New Fortress Energy LLC $NFE Shares Sold by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC trimmed its New Fortress Energy stake by 97.7% in Q3, selling 1,299,235 shares and leaving 30,750 shares worth $68,000.
• Other institutions were active: Goldman Sachs increased its position 133.4% to 865,826 shares (about $7.2M) and UBS added 42.2%, with hedge funds and institutional investors owning 58.61% of the company.
• New Fortress shares trade around $1.26 with a market cap of $358.5M and a 12‑month range of $0.98–$16.66, and the company shows negative profitability (net margin -72.92% and negative ROE ~43.9%); analysts' consensus is a "Hold" with a $7.88 price target.

Voya Investment Management LLC trimmed its holdings in shares of New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 97.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,750 shares of the company's stock after selling 1,299,235 shares during the quarter. Voya Investment Management LLC's holdings in New Fortress Energy were worth $68,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NFE. Vident Advisory LLC acquired a new stake in New Fortress Energy during the 1st quarter valued at approximately $107,000. AQR Capital Management LLC purchased a new position in shares of New Fortress Energy during the 1st quarter valued at approximately $390,000. Goldman Sachs Group Inc. grew its position in shares of New Fortress Energy by 133.4% during the first quarter. Goldman Sachs Group Inc. now owns 865,826 shares of the company's stock worth $7,195,000 after buying an additional 494,848 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of New Fortress Energy by 42.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 280,706 shares of the company's stock worth $2,333,000 after buying an additional 83,279 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of New Fortress Energy by 3.7% in the first quarter. Rhumbline Advisers now owns 101,283 shares of the company's stock worth $842,000 after buying an additional 3,653 shares during the last quarter. Hedge funds and other institutional investors own 58.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NFE shares. Weiss Ratings reiterated a "sell (d)" rating on shares of New Fortress Energy in a research note on Monday, December 29th. Zacks Research lowered shares of New Fortress Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, October 6th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, New Fortress Energy presently has an average rating of "Hold" and a consensus price target of $7.88.

New Fortress Energy Stock Performance

Shares of NFE opened at $1.26 on Friday. The stock has a market capitalization of $358.54 million, a PE ratio of -0.33 and a beta of 1.05. The business's fifty day moving average price is $1.24 and its 200 day moving average price is $2.13. 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 LLC has a 12-month low of $0.98 and a 12-month high of $16.66.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last issued its earnings results on Wednesday, June 18th. The company reported $0.13 earnings per share for the quarter. New Fortress Energy had a negative net margin of 72.92% and a negative return on equity of 43.91%. The company had revenue of $679.00 million for the quarter. Equities research analysts forecast that New Fortress Energy LLC will post 0.36 EPS for the current year.

New Fortress Energy 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.

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