New Fortress Energy LLC (NASDAQ:NFE) Sees Significant Decrease in Short Interest

New Fortress Energy LLC (NASDAQ:NFE) saw a large decrease in short interest in September. As of September 15th, there was short interest totaling 770,814 shares, a decrease of 97.4% from the August 31st total of 29,344,221 shares. Approximately 19.1% of the company’s shares are short sold. Based on an average daily volume of 188,590 shares, the short-interest ratio is currently 4.1 days.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NFE. Wealthfront Advisers LLC boosted its position in shares of New Fortress Energy by 7.3% in the first quarter. Wealthfront Advisers LLC now owns 195,946 shares of the company’s stock worth $116,000 after acquiring an additional 13,343 shares during the last quarter. Bank of New York Mellon Corp increased its position in New Fortress Energy by 3.1% during the first quarter. Bank of New York Mellon Corp now owns 556,407 shares of the company’s stock worth $328,000 after purchasing an additional 16,991 shares during the last quarter. J. Derek Lewis & Associates Inc. purchased a new position in New Fortress Energy during the fourth quarter worth approximately $29,000. Leonteq Securities AG purchased a new position in New Fortress Energy during the fourth quarter worth approximately $37,000. Finally, Fortitude Advisory Group L.L.C. acquired a new position in shares of New Fortress Energy in the 4th quarter valued at $57,000. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of New Fortress Energy in a report on Friday, July 17th. Wall Street Zen raised shares of New Fortress Energy to a “hold” rating in a research note on Saturday, September 19th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

New Fortress Energy Trading Up 11.8%

Shares of NASDAQ:NFE traded up $0.72 during midday trading on Friday, reaching $6.82. The company’s stock had a trading volume of 553,621 shares, compared to its average volume of 453,743. The firm has a market cap of $38.96 million, a price-to-earnings ratio of -0.05 and a beta of 1.35. The company has a quick ratio of 0.15, a current ratio of 0.16 and a debt-to-equity ratio of 3.57. New Fortress Energy has a 1 year low of $5.81 and a 1 year high of $133.00. The business has a 50 day moving average price of $14.21 and a 200 day moving average price of $24.81.

New Fortress Energy (NASDAQ:NFE) last released its earnings results on Thursday, August 6th. The company reported ($1.30) earnings per share for the quarter, topping the consensus estimate of ($10.50) by $9.20. New Fortress Energy had a negative return on equity of 795.34% and a negative net margin of 149.40%.The firm had revenue of $312.50 million for the quarter, compared to the consensus estimate of $511.60 million. Research analysts forecast that New Fortress Energy will post -4.19 EPS for the current year.

New Fortress Energy Company Profile

New Fortress Energy Inc (NASDAQ:NFE) is an energy infrastructure company that develops, owns and operates natural gas and liquefied natural gas (LNG) facilities. Its activities span the LNG value chain, including natural gas procurement, liquefaction, transportation, storage, regasification and delivery to customers.

The company provides LNG and natural gas through a network of terminals, pipelines, floating storage and regasification units, and related infrastructure. It also develops and operates gas-fired power generation facilities, supplying electricity and fuel to utilities, commercial and industrial customers, and other users seeking alternatives to more carbon-intensive energy sources.

Founded in 2014, New Fortress Energy has developed projects in the United States, the Caribbean and Latin America, including infrastructure serving markets such as Puerto Rico, Jamaica, Mexico and Brazil.