MYDA Advisors LLC Purchases New Stake in New Fortress Energy Inc. (NASDAQ:NFE)

MYDA Advisors LLC acquired a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 34,700 shares of the company’s stock, valued at approximately $525,000.

Several other large investors also recently added to or reduced their stakes in NFE. Brandywine Global Investment Management LLC purchased a new stake in shares of New Fortress Energy in the fourth quarter valued at about $19,618,000. Raymond James Financial Inc. acquired a new stake in New Fortress Energy during the fourth quarter worth $787,000. Norges Bank purchased a new stake in New Fortress Energy in the fourth quarter valued at $10,135,000. Huber Capital Management LLC grew its holdings in shares of New Fortress Energy by 44.9% during the 4th quarter. Huber Capital Management LLC now owns 1,231,644 shares of the company’s stock worth $18,622,000 after purchasing an additional 381,758 shares during the period. Finally, Stifel Financial Corp acquired a new stake in shares of New Fortress Energy during the 3rd quarter worth about $990,000. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

New Fortress Energy Price Performance

Shares of NFE opened at $5.69 on Friday. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 6.25 and a beta of 1.52. The firm’s fifty day simple moving average is $9.04 and its 200-day simple moving average is $10.86. New Fortress Energy Inc. has a twelve month low of $4.72 and a twelve month high of $29.11. 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 (NASDAQ:NFE) last posted its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. The company had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. Equities analysts forecast that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on NFE shares. Stifel Nicolaus decreased their price objective on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Citigroup cut their price objective on New Fortress Energy from $34.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a research report on Wednesday, March 12th. Finally, Morgan Stanley cut their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.83.

Insider Buying and Selling

In related news, CFO Christopher S. Guinta acquired 5,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were 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 $1,771,016.21. This trade represents a 2.48 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 37.10% of the stock is owned by company insiders.

About New Fortress Energy

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.