Ethic Inc. Purchases 38,368 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

Ethic Inc. boosted its position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 232.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,871 shares of the company's stock after buying an additional 38,368 shares during the period. Ethic Inc.'s holdings in New Fortress Energy were worth $830,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Brandywine Global Investment Management LLC purchased a new stake in shares of New Fortress Energy in the fourth quarter valued at approximately $19,618,000. Raymond James Financial Inc. purchased a new stake in shares of New Fortress Energy in the fourth quarter valued at approximately $787,000. Norges Bank purchased a new stake in shares of New Fortress Energy in the fourth quarter valued at approximately $10,135,000. Huber Capital Management LLC boosted its stake in shares of New Fortress Energy by 44.9% in the fourth quarter. Huber Capital Management LLC now owns 1,231,644 shares of the company's stock valued at $18,622,000 after buying an additional 381,758 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of New Fortress Energy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company's stock valued at $171,147,000 after buying an additional 2,728,191 shares in the last quarter. Institutional investors and hedge funds own 58.61% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on NFE. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a research report on Wednesday, March 12th. Citigroup decreased their price objective 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. Stifel Nicolaus decreased 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 research report on Tuesday, April 22nd. Morgan Stanley decreased their price objective on shares of 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. Finally, BTIG Research set a $8.00 price objective on shares of New Fortress Energy and gave the stock a "buy" rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, New Fortress Energy has a consensus rating of "Moderate Buy" and a consensus price target of $11.83.

Insiders Place Their Bets

In other news, CFO Christopher S. Guinta acquired 5,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the acquisition, 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 29.40% of the company's stock.

New Fortress Energy Stock Performance

New Fortress Energy stock traded up $0.59 during midday trading on Monday, reaching $3.25. 24,063,800 shares of the stock traded hands, compared to its average volume of 5,674,744. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The firm has a fifty day moving average price of $6.97 and a two-hundred day moving average price of $10.39. The firm has a market cap of $889.76 million, a price-to-earnings ratio of 3.57 and a beta of 1.45. 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 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 the consensus estimate of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. On average, equities research analysts forecast that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.

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.