MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 32.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,470,832 shares of the company's stock after purchasing an additional 359,421 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.59% of New Fortress Energy worth $22,239,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of NFE. Allworth Financial LP lifted its holdings in 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. Quarry LP acquired a new stake in shares of New Fortress Energy during the 4th quarter worth about $64,000. US Bancorp DE lifted its stake in New Fortress Energy by 31.5% during the fourth quarter. US Bancorp DE now owns 4,696 shares of the company's stock worth $71,000 after purchasing an additional 1,126 shares during the last quarter. Ancora Advisors LLC purchased a new stake in New Fortress Energy during the fourth quarter worth approximately $91,000. Finally, KBC Group NV boosted its holdings in 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 in the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.
New Fortress Energy Stock Performance
Shares of New Fortress Energy stock traded up $0.15 during trading on Friday, reaching $2.66. The company's stock had a trading volume of 40,456,939 shares, compared to its average volume of 5,599,109. The firm has a market cap of $728.23 million, a PE ratio of 2.92 and a beta of 1.45. The company has a 50-day moving average price of $6.97 and a two-hundred day moving average price of $10.38. 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 fifty-two week low of $2.26 and a fifty-two week high of $27.65.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its earnings results 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. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The business had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. On average, analysts forecast that New Fortress Energy Inc. will post 0.36 EPS for the current year.
Analyst Ratings Changes
A number of research firms have weighed in on NFE. Stifel Nicolaus cut their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Citigroup cut their price target on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley decreased their price objective 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. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $13.00.
Check Out Our Latest Stock Report on NFE
Insider Transactions at New Fortress Energy
In other New Fortress Energy news, CFO Christopher S. Guinta bought 5,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the purchase, the chief financial officer now owns 206,653 shares of the company's stock, valued at approximately $1,771,016.21. This represents a 2.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 29.40% of the company's stock.
New Fortress Energy Company Profile
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Free Report)
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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