J. Goldman & Co LP Increases Stake in New Fortress Energy Inc. (NASDAQ:NFE)

J. Goldman & Co LP raised its position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 239.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 468,222 shares of the company's stock after purchasing an additional 330,255 shares during the quarter. J. Goldman & Co LP owned 0.19% of New Fortress Energy worth $7,080,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Capital World Investors increased its holdings in New Fortress Energy by 87.9% in the 4th quarter. Capital World Investors now owns 19,925,022 shares of the company's stock worth $301,266,000 after buying an additional 9,319,985 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of New Fortress Energy by 40.8% during the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock valued at $235,374,000 after acquiring an additional 4,509,177 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of New Fortress Energy by 13.6% in the fourth quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company's stock worth $198,027,000 after acquiring an additional 1,564,893 shares during the period. Vanguard Group Inc. raised its holdings in shares of New Fortress Energy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company's stock valued at $171,147,000 after purchasing an additional 2,728,191 shares during the last quarter. Finally, Hood River Capital Management LLC bought a new position in New Fortress Energy during the fourth quarter valued at approximately $155,023,000. 58.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Stifel Nicolaus cut their target price on shares of 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. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a report on Wednesday, March 12th. Citigroup reduced their price objective on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Morgan Stanley dropped their target price on New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $13.00.

New Fortress Energy Stock Performance

Shares of NFE stock traded down $0.27 during mid-day trading on Wednesday, reaching $6.78. 9,674,969 shares of the company's stock traded hands, compared to its average volume of 5,074,703. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The firm has a market capitalization of $1.86 billion, a PE ratio of 7.45 and a beta of 1.45. New Fortress Energy Inc. has a 12 month low of $4.72 and a 12 month high of $29.05. The firm has a 50 day moving average price of $7.23 and a two-hundred day moving average price of $10.45.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.52). New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. During the same period in the previous year, the company earned $0.67 EPS. New Fortress Energy's revenue was down 31.8% on a year-over-year basis. On average, research analysts forecast that New Fortress Energy Inc. will post 0.36 EPS for the current year.

Insider Activity at New Fortress Energy

In other New Fortress Energy news, CFO Christopher S. Guinta purchased 5,000 shares of the business's stock in a transaction on 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 29.40% of the stock is currently owned by corporate 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.