Goldman Sachs Group Inc. Has $7.20 Million Holdings in New Fortress Energy LLC $NFE

Key Points

• Goldman Sachs Group Inc. increased its stake in New Fortress Energy LLC by 133.4% to approximately 865,826 shares, valued at $7.19 million.
• New Fortress Energy reported a quarterly loss of ($2.02) EPS, significantly missing analysts' estimates of ($0.64), while its revenue fell 29.5% year-over-year.
• Wall Street analysts have mixed views on New Fortress Energy, with three analysts rating the stock as "Buy", five as "Hold", and one as "Sell", resulting in a consensus target price of $7.88.

Goldman Sachs Group Inc. raised its position in New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 133.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 865,826 shares of the company's stock after purchasing an additional 494,848 shares during the quarter. Goldman Sachs Group Inc. owned about 0.32% of New Fortress Energy worth $7,195,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NFE. US Bancorp DE boosted its holdings in shares of New Fortress Energy by 81.7% in the first quarter. US Bancorp DE now owns 8,534 shares of the company's stock valued at $71,000 after acquiring an additional 3,838 shares in the last quarter. CWM LLC boosted its holdings in shares of New Fortress Energy by 46.9% in the first quarter. CWM LLC now owns 9,065 shares of the company's stock valued at $75,000 after acquiring an additional 2,895 shares in the last quarter. Hardin Capital Partners LLC bought a new position in shares of New Fortress Energy in the first quarter valued at approximately $83,000. Chicago Partners Investment Group LLC bought a new position in shares of New Fortress Energy in the first quarter valued at approximately $84,000. Finally, Forum Financial Management LP bought a new position in shares of New Fortress Energy in the first quarter valued at approximately $87,000. 58.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NFE shares. Morgan Stanley set a $4.00 target price on shares of New Fortress Energy and gave the stock an "equal weight" rating in a report on Tuesday, May 27th. Zacks Research upgraded shares of New Fortress Energy to a "hold" rating in a report on Monday, August 11th. Johnson Rice cut shares of New Fortress Energy from a "buy" rating to a "hold" rating and reduced their target price for the stock from $7.00 to $4.00 in a report on Wednesday, August 13th. BTIG Research cut shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a report on Thursday, June 26th. Finally, New Street Research set a $8.50 target price on shares of New Fortress Energy in a report on Monday, June 30th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $7.88.

New Fortress Energy Stock Down 1.8%

Shares of NASDAQ:NFE traded down $0.05 during trading on Friday, reaching $2.40. 11,711,677 shares of the company traded hands, compared to its average volume of 10,862,760. The firm has a fifty day simple moving average of $2.79 and a 200 day simple moving average of $4.55. The firm has a market cap of $681.50 million, a P/E ratio of -0.63 and a beta of 0.99. New Fortress Energy LLC has a 1-year low of $1.26 and a 1-year high of $16.66. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 5.77.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last issued its earnings results on Saturday, September 13th. The company reported ($2.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.64) by ($1.38). New Fortress Energy had a negative net margin of 48.94% and a negative return on equity of 22.72%. The business's revenue for the quarter was down 29.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.41) EPS. Analysts anticipate that New Fortress Energy LLC will post 0.36 earnings per share for the current fiscal year.

New Fortress Energy 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.