New Fortress Energy Inc. (NASDAQ:NFE) CFO Acquires $42,850.00 in Stock

New Fortress Energy Inc. (NASDAQ:NFE) CFO Christopher S. Guinta acquired 5,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the acquisition, the chief financial officer now owns 206,653 shares in the company, valued at $1,771,016.21. The trade was a 2.48 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

New Fortress Energy Price Performance

Shares of New Fortress Energy stock traded down $0.49 during trading on Thursday, hitting $8.31. 11,948,629 shares of the stock traded hands, compared to its average volume of 4,880,742. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. New Fortress Energy Inc. has a 52 week low of $7.58 and a 52 week high of $32.65. The firm’s fifty day moving average is $13.02 and its 200-day moving average is $11.47. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 9.14 and a beta of 1.58.

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

Institutional Investors Weigh In On New Fortress Energy

Large investors have recently added to or reduced their stakes in the stock. KBC Group NV lifted its position 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 valued at $31,000 after acquiring an additional 1,852 shares in the last quarter. US Bancorp DE increased its position in shares of New Fortress Energy by 344.6% during 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 in the last quarter. Allworth Financial LP increased 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 buying an additional 1,962 shares in the last quarter. GAMMA Investing LLC increased its position in shares of New Fortress Energy by 148.5% during 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 in the last quarter. Finally, Quarry LP acquired a new stake in New Fortress Energy during the fourth quarter worth about $64,000. Institutional investors own 58.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NFE shares. Deutsche Bank Aktiengesellschaft upgraded shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price for the company in a research note on Wednesday, December 4th. Morgan Stanley cut 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. Finally, Stifel Nicolaus reduced their target price on shares of 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. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.60.

New Fortress Energy Company 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.