Marshall Wace LLP Acquires New Position in New Fortress Energy Inc. (NASDAQ:NFE)

Marshall Wace LLP bought a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 242,290 shares of the company's stock, valued at approximately $3,663,000. Marshall Wace LLP owned approximately 0.10% of New Fortress Energy as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in NFE. Allworth Financial LP raised its stake in shares of New Fortress Energy by 2,156.0% during the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company's stock worth $32,000 after buying an additional 1,962 shares during the last quarter. GAMMA Investing LLC raised its position in New Fortress Energy by 148.5% during the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock worth $60,000 after acquiring an additional 2,370 shares during the last quarter. US Bancorp DE lifted its holdings in shares of New Fortress Energy by 31.5% in the fourth quarter. US Bancorp DE now owns 4,696 shares of the company's stock valued at $71,000 after purchasing an additional 1,126 shares in the last quarter. KBC Group NV grew its position in shares of New Fortress Energy by 121.1% in the fourth quarter. KBC Group NV now owns 7,596 shares of the company's stock valued at $115,000 after purchasing an additional 4,160 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of New Fortress Energy during the 4th quarter worth approximately $118,000. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

New Fortress Energy Trading Up 10.4 %

Shares of NFE stock traded up $0.57 on Thursday, reaching $6.00. 1,380,430 shares of the stock were exchanged, compared to its average volume of 4,915,384. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The stock has a market cap of $1.64 billion, a P/E ratio of 6.57 and a beta of 1.52. The firm has a 50 day moving average of $7.99 and a two-hundred day moving average of $10.64. New Fortress Energy Inc. has a 1-year low of $4.72 and a 1-year high of $29.11.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Morgan Stanley cut 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. Citigroup decreased their target price on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a research note on Wednesday, March 12th. Finally, Stifel Nicolaus lowered their price objective on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

Insiders Place Their Bets

In other New Fortress Energy news, CFO Christopher S. Guinta bought 5,000 shares of New Fortress Energy stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the acquisition, the chief financial officer now owns 206,653 shares of the company's stock, valued at $1,771,016.21. The trade was a 2.48 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 37.10% of the stock is owned by insiders.

New Fortress Energy Company 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.