Quantessence Capital LLC Takes Position in New Fortress Energy Inc. (NASDAQ:NFE)

Quantessence Capital LLC purchased a new stake in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 66,000 shares of the company's stock, valued at approximately $998,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFE. JPMorgan Chase & Co. grew its holdings in New Fortress Energy by 2.0% in the 4th quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company's stock valued at $730,000 after buying an additional 935 shares in the last quarter. US Bancorp DE boosted its position 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 acquiring an additional 1,126 shares during the period. Allworth Financial LP grew its stake in shares of New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company's stock valued at $32,000 after acquiring an additional 1,962 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock valued at $60,000 after acquiring an additional 2,370 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in New Fortress Energy by 21.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 16,438 shares of the company's stock worth $249,000 after acquiring an additional 2,951 shares during the period. 58.61% of the stock is owned by institutional investors.

New Fortress Energy Price Performance

New Fortress Energy stock traded down $0.35 during midday trading on Friday, reaching $5.52. The company's stock had a trading volume of 5,058,905 shares, compared to its average volume of 4,904,848. The stock has a market cap of $1.51 billion, a PE ratio of 6.07 and a beta of 1.52. 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 52 week low of $4.72 and a 52 week high of $29.11. The business has a 50-day moving average price of $8.36 and a 200-day moving average price of $10.72.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share (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 business had revenue of $679.00 million during the quarter, compared to analysts' expectations of $613.24 million. On average, sell-side analysts predict that New Fortress Energy Inc. will post 0.36 EPS for the current year.

Insider Transactions at New Fortress Energy

In other New Fortress Energy news, CFO Christopher S. Guinta acquired 5,000 shares of the company's stock in a transaction that occurred 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 acquisition, the chief financial officer now directly owns 206,653 shares in the company, valued at $1,771,016.21. This represents a 2.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 37.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NFE shares. Stifel Nicolaus cut their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Citigroup cut their price target on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a research note on Wednesday, March 12th. Finally, Morgan Stanley cut their target price on New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $13.00.

New Fortress Energy 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.