AlphaQuest LLC Lowers Stake in New Fortress Energy Inc. (NASDAQ:NFE)

AlphaQuest LLC cut its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 38.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,781 shares of the company’s stock after selling 13,640 shares during the period. AlphaQuest LLC’s holdings in New Fortress Energy were worth $329,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NFE. Primecap Management Co. CA lifted its stake in New Fortress Energy by 43.7% during the third quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company’s stock worth $104,827,000 after purchasing an additional 3,505,975 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in New Fortress Energy in the 4th quarter worth approximately $8,316,000. Charles Schwab Investment Management Inc. boosted its stake in New Fortress Energy by 61.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 639,194 shares of the company’s stock worth $9,665,000 after buying an additional 242,459 shares in the last quarter. Holocene Advisors LP grew its position in New Fortress Energy by 107.2% during the third quarter. Holocene Advisors LP now owns 389,698 shares of the company’s stock valued at $3,542,000 after acquiring an additional 201,649 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in New Fortress Energy during the fourth quarter valued at approximately $2,268,000. Institutional investors own 58.61% of the company’s stock.

Insider Buying and Selling at New Fortress Energy

In related news, CFO Christopher S. Guinta bought 5,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $8.57 per share, with a total value of $42,850.00. Following the transaction, the chief financial officer now owns 206,653 shares in the company, valued at approximately $1,771,016.21. This trade represents a 2.48 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 37.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NFE. Morgan Stanley lowered 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 report on Tuesday, March 4th. Stifel Nicolaus cut their price target on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price objective on the stock in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.60.

New Fortress Energy Trading Up 8.8 %

Shares of NFE opened at $9.26 on Friday. The stock has a market capitalization of $2.52 billion, a P/E ratio of 10.18 and a beta of 1.58. New Fortress Energy Inc. has a twelve month low of $7.58 and a twelve month high of $31.89. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The firm has a fifty day simple moving average of $12.73 and a two-hundred day simple moving average of $11.42.

New Fortress Energy (NASDAQ:NFE) last posted its earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The company had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. On average, research analysts anticipate that New Fortress Energy Inc. will post 0.36 EPS for the current year.

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.