Short Interest in New Fortress Energy Inc. (NASDAQ:NFE) Rises By 18.9%

New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 17,650,000 shares, an increase of 18.9% from the May 31st total of 14,850,000 shares. Based on an average daily volume of 1,760,000 shares, the days-to-cover ratio is currently 10.0 days. Approximately 15.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NFE. Primecap Management Co. CA lifted its stake in New Fortress Energy by 553.0% in the 4th quarter. Primecap Management Co. CA now owns 3,438,300 shares of the company's stock worth $129,727,000 after purchasing an additional 2,911,800 shares in the last quarter. Vanguard Group Inc. lifted its stake in New Fortress Energy by 41.4% in the 3rd quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company's stock worth $278,035,000 after purchasing an additional 2,482,627 shares in the last quarter. William Blair Investment Management LLC lifted its stake in New Fortress Energy by 31.0% in the 1st quarter. William Blair Investment Management LLC now owns 8,916,242 shares of the company's stock worth $272,748,000 after purchasing an additional 2,111,360 shares in the last quarter. M&G Plc purchased a new stake in shares of New Fortress Energy during the 1st quarter valued at approximately $51,569,000. Finally, Capital World Investors raised its position in shares of New Fortress Energy by 8.3% during the 4th quarter. Capital World Investors now owns 14,964,622 shares of the company's stock valued at $564,615,000 after buying an additional 1,152,125 shares during the period. 58.61% of the stock is owned by hedge funds and other institutional investors.

New Fortress Energy Price Performance

New Fortress Energy stock traded down $0.42 during midday trading on Tuesday, reaching $19.98. The company had a trading volume of 2,803,674 shares, compared to its average volume of 1,596,614. The company has a market capitalization of $4.10 billion, a P/E ratio of 9.08 and a beta of 1.49. New Fortress Energy has a 12-month low of $19.77 and a 12-month high of $40.04. The firm's fifty day simple moving average is $24.46 and its 200-day simple moving average is $29.80. The company has a debt-to-equity ratio of 3.74, a current ratio of 0.66 and a quick ratio of 0.54.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.07. The firm had revenue of $690.30 million for the quarter, compared to analyst estimates of $602.41 million. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. New Fortress Energy's quarterly revenue was up 19.2% compared to the same quarter last year. During the same period last year, the company posted $0.90 EPS. As a group, equities analysts anticipate that New Fortress Energy will post 1.99 EPS for the current year.

New Fortress Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Saturday, June 15th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Friday, June 14th. New Fortress Energy's dividend payout ratio is presently 18.18%.

Wall Street Analysts Forecast Growth

Several research firms have commented on NFE. Stifel Nicolaus lowered their price target on shares of New Fortress Energy from $45.00 to $43.00 and set a "buy" rating on the stock in a report on Thursday, May 9th. Barclays decreased their price objective on shares of New Fortress Energy from $32.00 to $27.00 and set an "equal weight" rating for the company in a research report on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of New Fortress Energy from $35.00 to $33.00 and set a "hold" rating for the company in a research report on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, New Fortress Energy presently has an average rating of "Moderate Buy" and a consensus target price of $39.17.

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.