Christopher S. Guinta Acquires 5,000 Shares of New Fortress Energy Inc. (NASDAQ:NFE) Stock

New Fortress Energy Inc. (NASDAQ:NFE) CFO Christopher S. Guinta acquired 5,000 shares of New Fortress Energy stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $8.57 per share, with a total value of $42,850.00. Following the purchase, the chief financial officer now owns 206,653 shares of the company’s stock, valued at $1,771,016.21. The trade was a 2.48 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

New Fortress Energy Price Performance

Shares of NFE traded down $0.49 on Thursday, reaching $8.31. The stock had a trading volume of 11,948,629 shares, compared to its average volume of 4,880,742. New Fortress Energy Inc. has a twelve month low of $7.58 and a twelve month high of $32.65. The firm has a market capitalization of $2.27 billion, a PE ratio of 9.14 and a beta of 1.58. The firm has a 50-day moving average of $13.02 and a 200 day moving average of $11.47. 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 (NASDAQ:NFE) last announced its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. The business had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. Sell-side analysts expect that New Fortress Energy Inc. will post 0.36 EPS for the current year.

Analyst Upgrades and Downgrades

NFE has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft upgraded shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a research note on Wednesday, December 4th. Stifel Nicolaus cut their price target on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Finally, Morgan Stanley decreased 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, New Fortress Energy presently has a consensus rating of “Hold” and a consensus target price of $15.60.

Hedge Funds Weigh In On New Fortress Energy

Several hedge funds and other institutional investors have recently bought and sold shares of NFE. KBC Group NV boosted its holdings in 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 purchasing an additional 1,852 shares during the last quarter. US Bancorp DE boosted its stake in shares of New Fortress Energy by 344.6% during the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after buying an additional 2,767 shares during the last quarter. Allworth Financial LP increased its stake 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 worth $32,000 after buying an additional 1,962 shares during the last quarter. GAMMA Investing LLC raised its holdings in New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $60,000 after acquiring an additional 2,370 shares in the last quarter. Finally, Quarry LP bought a new position in New Fortress Energy during the 4th quarter valued at $64,000. 58.61% of the stock is owned by institutional investors and hedge funds.

About New Fortress Energy

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.