AlphaQuest LLC Sells 13,640 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

AlphaQuest LLC lowered its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 38.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,781 shares of the company’s stock after selling 13,640 shares during the quarter. AlphaQuest LLC’s holdings in New Fortress Energy were worth $329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Primecap Management Co. CA boosted its holdings in New Fortress Energy by 43.7% in the third quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company’s stock worth $104,827,000 after acquiring an additional 3,505,975 shares in the last quarter. State Street Corp raised its position in shares of New Fortress Energy by 4.9% in the 3rd quarter. State Street Corp now owns 1,205,046 shares of the company’s stock worth $10,954,000 after purchasing an additional 56,153 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in New Fortress Energy by 61.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 639,194 shares of the company’s stock worth $9,665,000 after purchasing an additional 242,459 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in New Fortress Energy during the 4th quarter valued at about $8,316,000. Finally, Holocene Advisors LP increased its stake in New Fortress Energy by 107.2% during the 3rd quarter. Holocene Advisors LP now owns 389,698 shares of the company’s stock valued at $3,542,000 after purchasing an additional 201,649 shares in the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

Wall Street Analyst Weigh In

NFE has been the topic of several analyst reports. Morgan Stanley dropped their target price on shares of 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. Stifel Nicolaus lowered their price objective on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price for the company in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, New Fortress Energy presently has a consensus rating of “Hold” and an average price target of $15.60.

Insider Buying and Selling at New Fortress Energy

In other New Fortress Energy news, CFO Christopher S. Guinta bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the transaction, the chief financial officer now owns 206,653 shares of the company’s stock, valued at $1,771,016.21. This represents a 2.48 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 37.10% of the stock is owned by corporate insiders.

New Fortress Energy Stock Up 8.8 %

Shares of New Fortress Energy stock opened at $9.26 on Friday. New Fortress Energy Inc. has a twelve month low of $7.58 and a twelve month high of $31.89. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The company’s 50 day moving average is $12.73 and its 200 day moving average is $11.42. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 10.18 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.07. The firm had revenue of $679.00 million for 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%. Research analysts anticipate that New Fortress Energy Inc. will post 0.36 EPS for the current year.

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.