AXQ Capital LP Cuts Stock Position in New Fortress Energy Inc. (NASDAQ:NFE)

AXQ Capital LP lessened its position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 60.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,853 shares of the company's stock after selling 85,198 shares during the quarter. AXQ Capital LP's holdings in New Fortress Energy were worth $860,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NFE. William Blair Investment Management LLC boosted its position in shares of New Fortress Energy by 40.8% during the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock worth $235,374,000 after buying an additional 4,509,177 shares during the period. Primecap Management Co. CA lifted its stake in New Fortress Energy by 43.7% during the 3rd quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company's stock worth $104,827,000 after acquiring an additional 3,505,975 shares in the last quarter. King Luther Capital Management Corp purchased a new position in New Fortress Energy during the 4th quarter valued at about $15,120,000. American Assets Capital Advisers LLC grew its position in New Fortress Energy by 56.2% in the 4th quarter. American Assets Capital Advisers LLC now owns 2,430,812 shares of the company's stock valued at $36,754,000 after acquiring an additional 875,045 shares in the last quarter. Finally, Kailix Advisors LLC increased its stake in New Fortress Energy by 73.9% during the fourth quarter. Kailix Advisors LLC now owns 1,480,321 shares of the company's stock worth $22,382,000 after purchasing an additional 628,882 shares during the period. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

NFE has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a research note on Wednesday, March 12th. Morgan Stanley dropped their price target on shares of New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus reduced their price objective on New Fortress Energy from $23.00 to $19.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $15.00.

Insider Activity at New Fortress Energy

In other news, CFO Christopher S. Guinta bought 5,000 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the transaction, the chief financial officer now owns 206,653 shares of the company's stock, valued at approximately $1,771,016.21. This trade represents a 2.48 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 37.10% of the stock is currently owned by corporate insiders.

New Fortress Energy Stock Down 7.0 %

Shares of New Fortress Energy stock traded down $0.83 during trading on Wednesday, hitting $11.07. 5,383,554 shares of the stock were exchanged, compared to its average volume of 4,088,066. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The firm's 50-day moving average price is $12.20 and its 200 day moving average price is $11.36. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 12.16 and a beta of 1.58. New Fortress Energy Inc. has a 12-month low of $7.58 and a 12-month high of $30.80.

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 the consensus estimate of $0.06 by $0.07. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. The business had revenue of $679.00 million during the quarter, compared to analysts' expectations of $613.24 million. As a group, analysts forecast that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.

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.