Long Focus Capital Management LLC Purchases 2,250,000 Shares of New Fortress Energy LLC $NFE

Key Points

• Long Focus Capital raised its stake in New Fortress Energy by 43.7%, buying 2,250,000 shares to hold 7,400,000 shares (about 2.60% of the company) valued at roughly $16.35 million.
• New Fortress reported weak results—quarterly EPS of ($1.07) vs. ($0.67) estimate and revenue of $327.4M (down 42.3% YoY)—and trades around $1.09 with a market cap near $310M, a negative net margin and negative ROE.
• Institutional ownership is about 58.61%, with several firms (Geode, Tejara, Norges Bank) adding positions recently, while analysts show a consensus "Hold" rating and an average price target of $7.86.

Long Focus Capital Management LLC grew its holdings in shares of New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 43.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,400,000 shares of the company's stock after purchasing an additional 2,250,000 shares during the quarter. Long Focus Capital Management LLC owned approximately 2.60% of New Fortress Energy worth $16,354,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in New Fortress Energy by 71.2% during the second quarter. Geode Capital Management LLC now owns 3,661,857 shares of the company's stock valued at $12,159,000 after buying an additional 1,522,324 shares during the period. Tejara Capital Ltd raised its position in New Fortress Energy by 98.4% in the second quarter. Tejara Capital Ltd now owns 1,032,773 shares of the company's stock worth $3,429,000 after acquiring an additional 512,173 shares during the period. Norges Bank purchased a new position in shares of New Fortress Energy during the 2nd quarter worth $5,278,000. Citizens Financial Group Inc. RI boosted its stake in shares of New Fortress Energy by 539.6% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 201,779 shares of the company's stock worth $670,000 after acquiring an additional 170,231 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of New Fortress Energy during the 2nd quarter valued at $268,000. Institutional investors own 58.61% of the company's stock.

New Fortress Energy Stock Performance

NFE opened at $1.09 on Tuesday. The firm has a market cap of $310.16 million, a P/E ratio of -0.28 and a beta of 1.05. New Fortress Energy LLC has a 1-year low of $0.98 and a 1-year high of $12.59. The company has a 50 day simple moving average of $1.27 and a two-hundred day simple moving average of $1.49. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.17 and a quick ratio of 0.15.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its quarterly earnings data on Thursday, January 1st. The company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.40). The firm had revenue of $327.37 million for the quarter, compared to the consensus estimate of $716.89 million. New Fortress Energy had a negative net margin of 72.92% and a negative return on equity of 43.91%. The firm's revenue for the quarter was down 42.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. Equities analysts forecast that New Fortress Energy LLC will post 0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NFE shares. Zacks Research raised New Fortress Energy from a "strong sell" rating to a "hold" rating in a report on Friday, January 23rd. Weiss Ratings reissued a "sell (d)" rating on shares of New Fortress Energy in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, New Fortress Energy presently has an average rating of "Hold" and an average price target of $7.86.

New Fortress Energy Company Profile

New Fortress Energy is an integrated global energy infrastructure company focused on the development, construction and operation of natural gas-to-power projects and liquefied natural gas (LNG) terminals. The company sources LNG and delivers it via a network of floating storage and regasification units (FSRUs), onshore regasification terminals, and small-scale LNG carriers. By providing reliable natural gas supply solutions, New Fortress Energy aims to displace higher-carbon fuels in power generation, industrial and marine sectors.

The company's core activities include the design, development and operation of FSRUs and onshore regasification terminals that convert cryogenic LNG back to gas for delivery into domestic transmission networks.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.