Proficio Capital Partners LLC lessened its holdings in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 59.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,349 shares of the company's stock after selling 31,427 shares during the quarter. Proficio Capital Partners LLC's holdings in New Fortress Energy were worth $323,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Stifel Financial Corp purchased a new stake in shares of New Fortress Energy in the 3rd quarter worth approximately $990,000. Redwood Wealth Management Group LLC bought a new position in shares of New Fortress Energy during the fourth quarter valued at $749,000. Y Intercept Hong Kong Ltd purchased a new position in shares of New Fortress Energy in the 4th quarter worth about $1,252,000. GSG Advisors LLC bought a new position in New Fortress Energy in the 4th quarter worth about $605,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in New Fortress Energy during the 4th quarter valued at about $8,316,000. Hedge funds and other institutional investors own 58.61% of the company's stock.
New Fortress Energy Stock Performance
Shares of NASDAQ:NFE traded down $0.43 during trading on Friday, hitting $8.85. The company's stock had a trading volume of 9,686,955 shares, compared to its average volume of 4,218,439. 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 has a market cap of $2.42 billion, a price-to-earnings ratio of 9.73 and a beta of 1.58. The company has a 50-day moving average of $11.84 and a 200-day moving average of $11.34. 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 results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.07. The business had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. On average, sell-side analysts expect that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.
Insider Buying and Selling at New Fortress Energy
In other New Fortress Energy news, CFO Christopher S. Guinta acquired 5,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the purchase, 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 this hyperlink. 37.10% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on NFE. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a research note on Wednesday, March 12th. Morgan Stanley decreased 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. Finally, Stifel Nicolaus dropped their target price 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, New Fortress Energy presently has an average rating of "Hold" and an average price target of $15.00.
Check Out Our Latest Stock Report on NFE
New Fortress Energy Profile
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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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