Hood River Capital Management LLC Takes $155.02 Million Position in New Fortress Energy Inc. (NASDAQ:NFE)

Hood River Capital Management LLC acquired a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) 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 10,252,861 shares of the company's stock, valued at approximately $155,023,000. New Fortress Energy comprises approximately 2.3% of Hood River Capital Management LLC's holdings, making the stock its 5th largest holding. Hood River Capital Management LLC owned 4.08% of New Fortress Energy at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NFE. Capital World Investors raised its holdings in New Fortress Energy by 87.9% in the 4th quarter. Capital World Investors now owns 19,925,022 shares of the company's stock valued at $301,266,000 after buying an additional 9,319,985 shares during the period. William Blair Investment Management LLC raised its stake in shares of New Fortress Energy by 40.8% in the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock valued at $235,374,000 after acquiring an additional 4,509,177 shares during the period. Primecap Management Co. CA lifted its holdings in shares of New Fortress Energy by 13.6% in the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company's stock worth $198,027,000 after acquiring an additional 1,564,893 shares during the last quarter. Vanguard Group Inc. raised its position in 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 purchasing an additional 2,728,191 shares during the period. Finally, American Assets Capital Advisers LLC lifted its stake in New Fortress Energy by 56.2% during the fourth quarter. American Assets Capital Advisers LLC now owns 2,430,812 shares of the company's stock worth $36,754,000 after purchasing an additional 875,045 shares in the last quarter. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

New Fortress Energy Stock Performance

NASDAQ NFE opened at $4.89 on Wednesday. The firm has a market cap of $1.34 billion, a P/E ratio of 5.37 and a beta of 1.52. New Fortress Energy Inc. has a 52-week low of $4.72 and a 52-week high of $29.11. The business's 50-day moving average price is $8.77 and its 200 day moving average price is $10.80. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its quarterly earnings data 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. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. The company had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. On average, equities research analysts expect that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Morgan Stanley dropped 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. Citigroup cut their price target 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 shares of New Fortress Energy in a research note on Wednesday, March 12th. Finally, Stifel Nicolaus dropped 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $13.00.

Insiders Place Their Bets

In other news, CFO Christopher S. Guinta purchased 5,000 shares of the stock in a transaction that occurred on 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 acquisition, the chief financial officer now directly owns 206,653 shares in the company, valued at approximately $1,771,016.21. The trade was a 2.48 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 37.10% of the company's stock.

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.

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