150,000 Shares in New Fortress Energy Inc. (NASDAQ:NFE) Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. purchased a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 150,000 shares of the company’s stock, valued at approximately $2,268,000. Point72 Asset Management L.P. owned about 0.06% of New Fortress Energy as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Capital World Investors raised its holdings in New Fortress Energy by 87.9% in the 4th quarter. Capital World Investors now owns 19,925,022 shares of the company’s stock valued at $301,266,000 after acquiring an additional 9,319,985 shares during the last quarter. William Blair Investment Management LLC raised its holdings in New Fortress Energy by 40.8% in the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock valued at $235,374,000 after acquiring an additional 4,509,177 shares during the last quarter. Primecap Management Co. CA raised its holdings in New Fortress Energy by 13.6% in the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company’s stock valued at $198,027,000 after acquiring an additional 1,564,893 shares during the last quarter. Vanguard Group Inc. raised its holdings in New Fortress Energy by 31.8% in the 4th quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock valued at $171,147,000 after acquiring an additional 2,728,191 shares during the last quarter. Finally, Hood River Capital Management LLC acquired a new stake in New Fortress Energy in the 4th quarter valued at about $155,023,000. Institutional investors and hedge funds own 58.61% of the company’s stock.

Analyst Upgrades and Downgrades

NFE has been the subject of a number of recent research reports. BTIG Research set a $8.00 price objective on shares of New Fortress Energy and gave the company a “buy” rating in a report on Thursday, May 15th. Stifel Nicolaus dropped their price target on shares of New Fortress Energy from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a research note on Wednesday, March 12th. Morgan Stanley dropped their price target on shares of 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 dropped their price target on shares of New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.83.

New Fortress Energy Stock Performance

NASDAQ:NFE opened at $3.06 on Wednesday. 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 stock has a market capitalization of $837.74 million, a P/E ratio of 3.36 and a beta of 1.45. The company has a 50 day moving average price of $6.75 and a 200 day moving average price of $10.31. New Fortress Energy Inc. has a fifty-two week low of $2.26 and a fifty-two week high of $27.65.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The firm had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. Equities research analysts forecast that New Fortress Energy Inc. will post 0.36 EPS for the current year.

Insider Buying and Selling

In other New Fortress Energy news, CFO Christopher S. Guinta purchased 5,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $8.57 per share, for a total transaction 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 29.40% of the stock is currently owned by corporate insiders.

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.