American Assets Investment Management LLC Has $2.84 Million Stake in New Fortress Energy Inc. (NASDAQ:NFE)

American Assets Investment Management LLC boosted its holdings in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 64.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 188,012 shares of the company’s stock after buying an additional 73,947 shares during the period. American Assets Investment Management LLC’s holdings in New Fortress Energy were worth $2,843,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Allworth Financial LP grew its position in shares of New Fortress Energy by 2,156.0% in 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 during the last quarter. KBC Group NV increased its stake in shares of New Fortress Energy by 116.9% in the third 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 period. US Bancorp DE increased its stake in shares of New Fortress Energy by 344.6% in the third 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 period. GAMMA Investing LLC increased its stake in shares of New Fortress Energy by 148.5% in the fourth 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 period. Finally, Golden State Wealth Management LLC bought a new position in shares of New Fortress Energy in the fourth quarter worth about $118,000. 58.61% of the stock is owned by institutional investors and hedge funds.

New Fortress Energy Trading Up 7.9 %

Shares of NFE opened at $9.99 on Tuesday. New Fortress Energy Inc. has a 12-month low of $7.58 and a 12-month high of $31.89. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 10.98 and a beta of 1.58. The stock’s 50-day moving average price is $12.62 and its 200 day moving average price is $11.39.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.07. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. The firm had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. As a group, research analysts predict that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Stifel Nicolaus dropped their price objective on 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. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price objective on the stock in a research note on Wednesday, December 4th. Finally, Morgan Stanley dropped their price objective on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, New Fortress Energy has a consensus rating of “Hold” and an average price target of $15.60.

Insider Buying and Selling at New Fortress Energy

In related news, CFO Christopher S. Guinta acquired 5,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of the acquisition, the chief financial officer now owns 206,653 shares of the company’s stock, valued at $1,771,016.21. This trade represents a 2.48 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 37.10% of the company’s stock.

New Fortress Energy Profile

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.