Norges Bank Purchases New Stake in New Fortress Energy LLC $NFE

Key Points

• Norges Bank acquired 1,589,644 shares of New Fortress Energy in Q2, a new stake valued at about $5.28 million that represented roughly 0.58% ownership at the end of the period.
• Shares trade near $1.39 (50-day $1.55, 200-day $2.36) with a market cap of $395.5M, a 52‑week range of $0.98–$16.66, negative profitability (net margin -72.92%) and a debt-to-equity ratio of 2.08.
• Analysts are mixed — the consensus rating is Hold with an average target price of $7.88, alongside several recent downgrades from firms such as Weiss Ratings, Zacks and Johnson Rice.

Norges Bank acquired a new position in shares of New Fortress Energy LLC (NASDAQ:NFE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,589,644 shares of the company's stock, valued at approximately $5,278,000. Norges Bank owned about 0.58% of New Fortress Energy at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. IFP Advisors Inc raised its holdings in shares of New Fortress Energy by 166.3% during the second quarter. IFP Advisors Inc now owns 9,072 shares of the company's stock worth $30,000 after purchasing an additional 5,665 shares during the period. Apollon Wealth Management LLC bought a new stake in shares of New Fortress Energy during the 2nd quarter valued at about $33,000. MQS Management LLC bought a new stake in shares of New Fortress Energy during the 2nd quarter valued at about $33,000. Hardin Capital Partners LLC raised its stake in New Fortress Energy by 50.0% during the second quarter. Hardin Capital Partners LLC now owns 15,000 shares of the company's stock worth $54,000 after acquiring an additional 5,000 shares during the period. Finally, Baader Bank Aktiengesellschaft acquired a new stake in New Fortress Energy during the second quarter worth about $56,000. Institutional investors own 58.61% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of New Fortress Energy in a research note on Tuesday, October 14th. Capital One Financial reissued an "underweight" rating on shares of New Fortress Energy in a report on Monday, September 8th. Zacks Research lowered New Fortress Energy from a "hold" rating to a "strong sell" rating in a research report on Monday, October 6th. Finally, Johnson Rice downgraded New Fortress Energy from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $7.00 to $4.00 in a research note on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $7.88.

New Fortress Energy Price Performance

Shares of NASDAQ:NFE opened at $1.39 on Wednesday. The firm's 50 day moving average is $1.55 and its two-hundred day moving average is $2.36. The firm has a market capitalization of $395.53 million, a P/E ratio of -0.36 and a beta of 1.11. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.08. New Fortress Energy LLC has a 52 week low of $0.98 and a 52 week high of $16.66.

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

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