MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 32.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,470,832 shares of the company's stock after purchasing an additional 359,421 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.59% of New Fortress Energy worth $22,239,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Interval Partners LP acquired a new stake in shares of New Fortress Energy in the fourth quarter valued at about $1,453,000. J. Goldman & Co LP boosted its stake in New Fortress Energy by 239.4% during the 4th quarter. J. Goldman & Co LP now owns 468,222 shares of the company's stock valued at $7,080,000 after purchasing an additional 330,255 shares during the period. Gotham Asset Management LLC acquired a new stake in New Fortress Energy in the 4th quarter valued at approximately $640,000. Graham Capital Management L.P. bought a new position in New Fortress Energy in the 4th quarter worth approximately $524,000. Finally, Ethic Inc. increased its position in New Fortress Energy by 232.5% in the 4th quarter. Ethic Inc. now owns 54,871 shares of the company's stock worth $830,000 after buying an additional 38,368 shares during the period. Institutional investors and hedge funds own 58.61% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on NFE. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a research note on Wednesday, March 12th. BTIG Research set a $8.00 price objective on shares of New Fortress Energy and gave the stock a "buy" rating in a report on Thursday. 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. Citigroup lowered their price target on 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. Finally, Stifel Nicolaus cut their price target on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $11.83.
Check Out Our Latest Research Report on NFE
Insider Buying and Selling
In other news, CFO Christopher S. Guinta acquired 5,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the acquisition, the chief financial officer now owns 206,653 shares in the company, valued at approximately $1,771,016.21. This represents a 2.48% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 29.40% of the stock is owned by corporate insiders.
New Fortress Energy Price Performance
Shares of NASDAQ:NFE traded down $0.19 during midday trading on Tuesday, reaching $3.11. 6,258,417 shares of the company's stock were exchanged, compared to its average volume of 5,705,879. The firm has a market capitalization of $850.06 million, a PE ratio of 3.41 and a beta of 1.45. The company's 50 day simple moving average is $6.86 and its two-hundred day simple moving average is $10.36. New Fortress Energy Inc. has a 12 month low of $2.26 and a 12 month high of $27.65. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its quarterly earnings results 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 net margin of 7.84% and a return on equity of 15.60%. The firm had revenue of $679.00 million during the quarter, compared to analysts' expectations of $613.24 million. Equities research analysts expect that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.
About New Fortress Energy
(
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.
See Also
Before you consider New Fortress Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New Fortress Energy wasn't on the list.
While New Fortress Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
