Trexquant Investment LP Takes $2.48 Million Position in New Fortress Energy Inc. (NASDAQ:NFE)

Trexquant Investment LP purchased a new stake in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 163,875 shares of the company's stock, valued at approximately $2,478,000. Trexquant Investment LP owned approximately 0.07% of New Fortress Energy at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. William Blair Investment Management LLC increased its position in shares of New Fortress Energy by 40.8% during the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock worth $235,374,000 after acquiring an additional 4,509,177 shares in the last quarter. Primecap Management Co. CA increased its holdings in New Fortress Energy by 13.6% during the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company's stock worth $198,027,000 after purchasing an additional 1,564,893 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of New Fortress Energy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company's stock worth $171,147,000 after purchasing an additional 2,728,191 shares during the last quarter. American Assets Capital Advisers LLC lifted its holdings in shares of New Fortress Energy by 56.2% in the fourth quarter. American Assets Capital Advisers LLC now owns 2,430,812 shares of the company's stock valued at $36,754,000 after purchasing an additional 875,045 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of New Fortress Energy by 62.4% during the fourth quarter. Geode Capital Management LLC now owns 1,718,521 shares of the company's stock valued at $25,993,000 after buying an additional 660,119 shares during the last quarter. Institutional investors and hedge funds own 58.61% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Citigroup lowered their price target on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday. Stifel Nicolaus lowered their target price on shares of New Fortress Energy from $23.00 to $19.00 and set a "buy" 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 report on Wednesday, March 12th. Finally, Morgan Stanley reduced 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 research report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, New Fortress Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.83.

Insider Buying and Selling

In other New Fortress Energy news, CFO Christopher S. Guinta acquired 5,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $8.57 per share, with a total value of $42,850.00. Following the acquisition, the chief financial officer now owns 206,653 shares in the company, valued at approximately $1,771,016.21. This represents a 2.48 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 37.10% of the stock is currently owned by insiders.

New Fortress Energy Stock Performance

Shares of NASDAQ:NFE traded up $0.09 during midday trading on Friday, reaching $5.90. The company had a trading volume of 8,665,429 shares, compared to its average volume of 4,639,060. The stock has a market cap of $1.62 billion, a P/E ratio of 6.48 and a beta of 1.52. The company's 50 day moving average price is $9.76 and its 200 day moving average price is $10.99. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. New Fortress Energy Inc. has a 52-week low of $4.80 and a 52-week high of $29.46.

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. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The firm had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. As a group, sell-side analysts anticipate that New Fortress Energy Inc. will post 0.36 EPS 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.