New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 38,830,000 shares, an increase of 22.7% from the February 28th total of 31,650,000 shares. Approximately 21.8% of the company's shares are short sold. Based on an average daily volume of 5,090,000 shares, the days-to-cover ratio is presently 7.6 days.
New Fortress Energy Stock Down 20.8 %
Shares of NFE traded down $1.43 during trading hours on Friday, hitting $5.46. The company had a trading volume of 20,779,146 shares, compared to its average volume of 4,458,443. New Fortress Energy has a 52-week low of $4.94 and a 52-week high of $30.19. The firm has a fifty day moving average price of $11.00 and a 200-day moving average price of $11.20. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 6.00 and a beta of 1.52. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last issued its earnings results 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 net margin of 7.84% and a return on equity of 15.60%. The business had revenue of $679.00 million during the quarter, compared to analysts' expectations of $613.24 million. On average, equities research analysts forecast that New Fortress Energy will post 0.36 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Morgan Stanley decreased their price objective on 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. Deutsche Bank Aktiengesellschaft set a $8.00 price target 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 $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 issued a buy rating to the stock. Based on data from MarketBeat.com, New Fortress Energy currently has a consensus rating of "Hold" and a consensus target price of $15.00.
Check Out Our Latest Analysis on NFE
Insider Buying and Selling at New Fortress Energy
In related news, CFO Christopher S. Guinta acquired 5,000 shares of the stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the acquisition, the chief financial officer now directly owns 206,653 shares of the company's stock, valued at approximately $1,771,016.21. This represents a 2.48 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 37.10% of the company's stock.
Institutional Trading of New Fortress Energy
Institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its holdings in shares of New Fortress Energy by 2,156.0% during the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company's stock valued at $32,000 after purchasing an additional 1,962 shares in the last quarter. GAMMA Investing LLC lifted its stake in New Fortress Energy by 148.5% during the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock valued at $60,000 after acquiring an additional 2,370 shares during the period. Quarry LP bought a new position in New Fortress Energy during the 4th quarter valued at about $64,000. US Bancorp DE boosted its holdings in shares of New Fortress Energy by 31.5% during the 4th quarter. US Bancorp DE now owns 4,696 shares of the company's stock valued at $71,000 after acquiring an additional 1,126 shares during the last quarter. Finally, Ancora Advisors LLC bought a new stake in shares of New Fortress Energy in the fourth quarter worth approximately $91,000. 58.61% of the stock is currently owned by hedge funds and other institutional investors.
New Fortress Energy Company Profile
(
Get Free Report)
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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