New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) CFO Christopher S. Guinta purchased 5,000 shares of the business's stock in a transaction on Thursday, March 13th. The stock was purchased 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 in the company, valued at approximately $1,771,016.21. This trade represents a 2.48 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
New Fortress Energy Trading Down 3.3 %
NFE stock opened at $8.51 on Friday. The firm has a fifty day moving average price of $12.86 and a 200 day moving average price of $11.45. New Fortress Energy Inc. has a fifty-two week low of $7.58 and a fifty-two week high of $32.65. The firm has a market cap of $2.32 billion, a PE ratio of 9.35 and a beta of 1.58. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its quarterly earnings results on Monday, March 3rd. The company reported $0.13 EPS 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. Sell-side analysts anticipate that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
NFE has been the topic of several analyst reports. 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 report on Wednesday, December 4th. Stifel Nicolaus decreased their price target on New Fortress Energy from $23.00 to $19.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Finally, Morgan Stanley dropped their price target 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, New Fortress Energy currently has a consensus rating of "Hold" and an average price target of $15.60.
Get Our Latest Report on NFE
Hedge Funds Weigh In On New Fortress Energy
Several hedge funds have recently added to or reduced their stakes in the company. Hood River Capital Management LLC bought a new stake in shares of New Fortress Energy during the 4th quarter worth approximately $155,023,000. Capital World Investors grew its holdings in shares of New Fortress Energy by 87.9% in the fourth quarter. Capital World Investors now owns 19,925,022 shares of the company's stock worth $301,266,000 after purchasing an additional 9,319,985 shares during the last quarter. William Blair Investment Management LLC increased its stake 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 worth $235,374,000 after buying an additional 4,509,177 shares during the period. Primecap Management Co. CA lifted its holdings in New Fortress Energy by 43.7% during the 3rd quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company's stock valued at $104,827,000 after buying an additional 3,505,975 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position 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 buying an additional 2,728,191 shares during the period. 58.61% of the stock is currently owned by institutional investors.
About New Fortress Energy
(
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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.
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