Wealthfront Advisers LLC purchased a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 65,324 shares of the company's stock, valued at approximately $988,000.
Several other large investors also recently made changes to their positions in NFE. Allworth Financial LP lifted its position in shares of New Fortress Energy by 2,156.0% during the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company's stock worth $32,000 after purchasing an additional 1,962 shares during the last quarter. KBC Group NV lifted its position in shares of New Fortress Energy by 116.9% during the 3rd quarter. KBC Group NV now owns 3,436 shares of the company's stock worth $31,000 after purchasing an additional 1,852 shares during the last quarter. US Bancorp DE lifted its position in shares of New Fortress Energy by 344.6% during the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company's stock worth $32,000 after purchasing an additional 2,767 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of New Fortress Energy by 148.5% during the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock worth $60,000 after purchasing an additional 2,370 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of New Fortress Energy during the 4th quarter worth about $118,000. Institutional investors own 58.61% of the company's stock.
New Fortress Energy Price Performance
Shares of NASDAQ:NFE traded up $0.41 during trading on Wednesday, reaching $10.26. The stock had a trading volume of 3,767,434 shares, compared to its average volume of 4,002,098. New Fortress Energy Inc. has a 52 week low of $7.58 and a 52 week high of $31.14. The stock has a market capitalization of $2.80 billion, a PE ratio of 11.27 and a beta of 1.58. 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 business's 50-day moving average price is $12.52 and its 200 day moving average price is $11.37.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last posted its quarterly earnings data 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. 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 analysts' expectations of $613.24 million. As a group, equities analysts predict that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research firms have commented on NFE. Morgan Stanley cut their price target 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 New Fortress Energy in a report on Wednesday, March 12th. Finally, Stifel Nicolaus cut their price target on New Fortress Energy from $23.00 to $19.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. Three research 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 has a consensus rating of "Hold" and a consensus target price of $15.00.
Get Our Latest Stock Report on NFE
Insider Buying and Selling at New Fortress Energy
In other New Fortress Energy news, CFO Christopher S. Guinta purchased 5,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the transaction, the chief financial officer now directly owns 206,653 shares in the company, valued at $1,771,016.21. This trade represents a 2.48 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 37.10% of the company's stock.
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.
Further Reading
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