Hood River Capital Management LLC Purchases New Position in New Fortress Energy Inc. (NASDAQ:NFE)

Hood River Capital Management LLC bought a new stake in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,252,861 shares of the company's stock, valued at approximately $155,023,000. New Fortress Energy comprises 2.3% of Hood River Capital Management LLC's investment portfolio, making the stock its 5th largest holding. Hood River Capital Management LLC owned about 4.08% of New Fortress Energy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Stifel Financial Corp acquired a new stake in New Fortress Energy during the 3rd quarter valued at $990,000. State Street Corp boosted its position in New Fortress Energy by 4.9% during the 3rd quarter. State Street Corp now owns 1,205,046 shares of the company's stock worth $10,954,000 after acquiring an additional 56,153 shares during the period. Franklin Resources Inc. grew its stake in New Fortress Energy by 8.5% during the 3rd quarter. Franklin Resources Inc. now owns 161,095 shares of the company's stock valued at $1,555,000 after acquiring an additional 12,587 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of New Fortress Energy by 148.5% in the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock valued at $60,000 after purchasing an additional 2,370 shares during the period. Finally, SL Advisors LLC purchased a new stake in shares of New Fortress Energy in the fourth quarter worth approximately $1,000,000. Institutional investors and hedge funds own 58.61% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NFE shares. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a research note on Wednesday, March 12th. Citigroup cut their price objective on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Stifel Nicolaus lowered their price target on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Morgan Stanley reduced their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, New Fortress Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

New Fortress Energy Stock Performance

NFE traded up $0.22 during trading on Monday, hitting $5.74. The stock had a trading volume of 2,187,014 shares, compared to its average volume of 4,894,329. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. New Fortress Energy Inc. has a 12 month low of $4.72 and a 12 month high of $29.11. The company has a 50 day simple moving average of $8.36 and a 200-day simple moving average of $10.73. The firm has a market cap of $1.57 billion, a PE ratio of 6.29 and a beta of 1.52.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.07. The business had revenue of $679.00 million during the quarter, compared to analysts' expectations of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. Analysts expect that New Fortress Energy Inc. will post 0.36 EPS for the current year.

Insider Activity

In other news, CFO Christopher S. Guinta purchased 5,000 shares of the business's stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $8.57 per share, with a total value of $42,850.00. Following the acquisition, the chief financial officer now directly owns 206,653 shares in the company, valued at approximately $1,771,016.21. The trade was a 2.48 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 37.10% of the stock is owned by company insiders.

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.