New Fortress Energy LLC $NFE Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in New Fortress Energy by 14.2%, acquiring an additional 208,225 shares, bringing its total ownership to 1,679,057 shares valued at approximately $13.95 million.
• Vanguard Group Inc. and American Assets Investment Management LLC also significantly boosted their holdings, with Vanguard increasing its position by 22.6% and American Assets by 888.8%, indicating strong institutional interest in New Fortress Energy.
• New Fortress Energy's stock has seen mixed reviews from analysts, with target prices ranging from $4.00 to $8.50; the average consensus rating is currently a Hold.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 14.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,679,057 shares of the company's stock after acquiring an additional 208,225 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.61% of New Fortress Energy worth $13,953,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. US Bancorp DE lifted its holdings in 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 during the period. CWM LLC lifted its position in shares of New Fortress Energy by 46.9% during the 1st quarter. CWM LLC now owns 9,065 shares of the company's stock valued at $75,000 after buying an additional 2,895 shares in the last quarter. Hardin Capital Partners LLC purchased a new position in shares of New Fortress Energy during the 1st quarter valued at approximately $83,000. Chicago Partners Investment Group LLC purchased a new position in shares of New Fortress Energy during the 1st quarter valued at approximately $84,000. Finally, Forum Financial Management LP purchased a new position in shares of New Fortress Energy during the 1st quarter valued at approximately $87,000. 58.61% of the stock is owned by institutional investors and hedge funds.

New Fortress Energy Trading Down 3.7%

Shares of NFE traded down $0.05 during midday trading on Friday, reaching $1.31. The company had a trading volume of 9,051,637 shares, compared to its average volume of 10,715,937. New Fortress Energy LLC has a 1-year low of $1.26 and a 1-year high of $16.66. The stock has a market cap of $372.76 million, a PE ratio of -0.34 and a beta of 0.99. The firm has a 50 day simple moving average of $2.92 and a 200-day simple moving average of $4.69. 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 released its quarterly earnings results on Saturday, September 13th. The company reported ($2.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.64) by ($1.38). New Fortress Energy had a negative return on equity of 22.72% and a negative net margin of 48.94%.The company's quarterly revenue was down 29.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.41) EPS. Research analysts forecast that New Fortress Energy LLC will post 0.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NFE shares. Capital One Financial reiterated an "underweight" rating on shares of New Fortress Energy in a research report on Monday, September 8th. Compass Point started coverage on New Fortress Energy in a research report on Tuesday, July 1st. They set a "buy" rating and a $8.50 target price on the stock. Johnson Rice lowered New Fortress Energy from a "buy" rating to a "hold" rating and decreased their target price for the company from $7.00 to $4.00 in a research report on Wednesday, August 13th. New Street Research set a $8.50 target price on New Fortress Energy in a research report on Monday, June 30th. Finally, Zacks Research upgraded New Fortress Energy to a "hold" rating in a research report on Monday, August 11th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $7.88.

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.