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. lifted its holdings in shares of New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 14.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,679,057 shares of the company's stock after acquiring an additional 208,225 shares during the period. 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 quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC acquired a new stake in New Fortress Energy in the 1st quarter worth approximately $390,000. PDT Partners LLC purchased a new position in shares of New Fortress Energy in the first quarter worth $1,340,000. Vident Advisory LLC acquired a new stake in shares of New Fortress Energy during the first quarter worth $107,000. Huber Capital Management LLC grew its holdings in shares of New Fortress Energy by 23.5% during the first quarter. Huber Capital Management LLC now owns 1,520,603 shares of the company's stock valued at $12,636,000 after buying an additional 288,959 shares during the last quarter. Finally, Gabelli Funds LLC increased its position in shares of New Fortress Energy by 35.3% in the 1st quarter. Gabelli Funds LLC now owns 122,436 shares of the company's stock valued at $1,017,000 after acquiring an additional 31,936 shares during the period. 58.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NFE. Johnson Rice cut New Fortress Energy from a "buy" rating to a "hold" rating and lowered their price target for the stock from $7.00 to $4.00 in a research report on Wednesday, August 13th. Compass Point assumed coverage on New Fortress Energy in a research note on Tuesday, July 1st. They issued a "buy" rating and a $8.50 price objective for the company. Zacks Research upgraded New Fortress Energy to a "hold" rating in a research report on Monday, August 11th. BTIG Research downgraded shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a report on Thursday, June 26th. Finally, Morgan Stanley set a $4.00 price objective on shares of New Fortress Energy and gave the company an "equal weight" rating in a research note on Tuesday, May 27th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, New Fortress Energy presently has an average rating of "Hold" and an average target price of $7.88.

New Fortress Energy Stock Performance

New Fortress Energy stock traded down $0.05 during midday trading on Friday, hitting $1.31. 9,051,637 shares of the company were exchanged, compared to its average volume of 10,517,182. The business has a fifty day simple moving average of $2.92 and a two-hundred day simple moving average of $4.76. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.95 and a current ratio of 0.67. The firm has a market capitalization of $359.20 million, a PE ratio of -0.34 and a beta of 0.99. New Fortress Energy LLC has a fifty-two week low of $1.26 and a fifty-two week high of $16.66.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its quarterly earnings data on Saturday, September 13th. The company reported ($2.02) EPS for the quarter, missing the consensus estimate 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 business posted ($0.41) earnings per share. On average, sell-side analysts forecast that New Fortress Energy LLC will post 0.36 earnings per share for the current year.

About New Fortress Energy

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.