Point72 Asset Management L.P. Invests $2.27 Million in New Fortress Energy Inc. (NASDAQ:NFE)

Point72 Asset Management L.P. purchased a new stake in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 150,000 shares of the company's stock, valued at approximately $2,268,000. Point72 Asset Management L.P. owned about 0.06% of New Fortress Energy as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Capital World Investors increased its holdings in New Fortress Energy by 87.9% in the fourth quarter. Capital World Investors now owns 19,925,022 shares of the company's stock valued at $301,266,000 after purchasing an additional 9,319,985 shares during the period. William Blair Investment Management LLC grew its position in shares of New Fortress Energy by 40.8% in the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock valued at $235,374,000 after buying an additional 4,509,177 shares during the last quarter. Primecap Management Co. CA grew its position in shares of New Fortress Energy by 13.6% in the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company's stock valued at $198,027,000 after buying an additional 1,564,893 shares during the last quarter. Vanguard Group Inc. raised its position in shares of New Fortress Energy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company's stock worth $171,147,000 after acquiring an additional 2,728,191 shares during the last quarter. Finally, Hood River Capital Management LLC bought a new position in shares of New Fortress Energy during the fourth quarter worth about $155,023,000. Institutional investors and hedge funds own 58.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BTIG Research set a $8.00 target price on shares of New Fortress Energy and gave the company a "buy" rating in a research report on Thursday, May 15th. Stifel Nicolaus decreased their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley dropped their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a research report on Wednesday, March 12th. Finally, Citigroup dropped their price objective on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, New Fortress Energy presently has a consensus rating of "Moderate Buy" and an average target price of $11.83.

Insider Transactions at New Fortress Energy

In other New Fortress Energy news, CFO Christopher S. Guinta bought 5,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of the transaction, the chief financial officer now directly owns 206,653 shares in the company, valued at approximately $1,771,016.21. The trade was a 2.48% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 29.40% of the stock is owned by insiders.

New Fortress Energy Stock Down 1.1%

NFE traded down $0.03 during midday trading on Monday, hitting $2.78. The company had a trading volume of 6,162,232 shares, compared to its average volume of 5,903,966. The stock's 50 day moving average price is $6.33 and its 200 day moving average price is $10.18. New Fortress Energy Inc. has a 52 week low of $2.26 and a 52 week high of $26.22. The company has a market capitalization of $761.09 million, a price-to-earnings ratio of 3.05 and a beta of 1.45. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last issued its earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.07. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. The business had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. On average, research analysts anticipate that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.

New Fortress Energy Company Profile

New Fortress Energy Inc operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide. The company operates in two segments, Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.