Quantessence Capital LLC Purchases Shares of 66,000 New Fortress Energy Inc. (NASDAQ:NFE)

Quantessence Capital LLC purchased a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 66,000 shares of the company's stock, valued at approximately $998,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Stifel Financial Corp acquired a new position in New Fortress Energy during the third quarter worth about $990,000. State Street Corp grew its holdings in shares of New Fortress Energy by 4.9% during the 3rd quarter. State Street Corp now owns 1,205,046 shares of the company's stock valued at $10,954,000 after purchasing an additional 56,153 shares during the last quarter. Franklin Resources Inc. increased its position in New Fortress Energy by 8.5% during the 3rd quarter. Franklin Resources Inc. now owns 161,095 shares of the company's stock worth $1,555,000 after purchasing an additional 12,587 shares in the last quarter. GAMMA Investing LLC lifted its stake in New Fortress Energy by 148.5% in the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock valued at $60,000 after purchasing an additional 2,370 shares during the last quarter. Finally, SL Advisors LLC acquired a new stake in New Fortress Energy in the fourth quarter valued at approximately $1,000,000. 58.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NFE shares. Stifel Nicolaus dropped their price target on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday. Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a research note on Wednesday, March 12th. Morgan Stanley lowered their price objective on 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, Citigroup cut their target price on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.00.

Insider Activity at New Fortress Energy

In other New Fortress Energy news, CFO Christopher S. Guinta bought 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 owns 206,653 shares in the company, valued at $1,771,016.21. This trade represents a 2.48 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 37.10% of the stock is owned by company insiders.

New Fortress Energy Trading Down 6.0 %

Shares of NFE stock traded down $0.35 on Friday, hitting $5.52. The company had a trading volume of 5,058,905 shares, compared to its average volume of 4,890,341. The stock's 50-day moving average is $8.36 and its two-hundred day moving average is $10.71. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The firm has a market cap of $1.51 billion, a P/E ratio of 6.07 and a beta of 1.52. New Fortress Energy Inc. has a twelve month low of $4.72 and a twelve month high of $29.11.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its earnings results 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. The business had revenue of $679.00 million during 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, equities research analysts anticipate 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.