New Fortress Energy Inc. (NASDAQ:NFE) Short Interest Up 18.9% in June

New Fortress Energy Inc. (NASDAQ:NFE) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 17,650,000 shares, an increase of 18.9% from the May 31st total of 14,850,000 shares. Based on an average daily trading volume, of 1,760,000 shares, the days-to-cover ratio is currently 10.0 days. Currently, 15.3% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price objective on New Fortress Energy from $35.00 to $33.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Stifel Nicolaus dropped their price target on New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Barclays dropped their price target on New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, May 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.17.

Institutional Investors Weigh In On New Fortress Energy

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in shares of New Fortress Energy by 5.0% in the third quarter. PNC Financial Services Group Inc. now owns 6,730 shares of the company’s stock worth $221,000 after purchasing an additional 319 shares during the last quarter. Hohimer Wealth Management LLC lifted its holdings in New Fortress Energy by 1.3% in the third quarter. Hohimer Wealth Management LLC now owns 46,651 shares of the company’s stock valued at $1,529,000 after acquiring an additional 589 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in New Fortress Energy by 5.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,081 shares of the company’s stock valued at $531,000 after acquiring an additional 716 shares during the period. Maryland State Retirement & Pension System lifted its holdings in New Fortress Energy by 1.3% in the fourth quarter. Maryland State Retirement & Pension System now owns 58,877 shares of the company’s stock valued at $2,221,000 after acquiring an additional 736 shares during the period. Finally, Tidal Investments LLC lifted its holdings in New Fortress Energy by 10.9% in the first quarter. Tidal Investments LLC now owns 10,297 shares of the company’s stock valued at $315,000 after acquiring an additional 1,009 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Trading Down 2.1 %

NFE stock traded down $0.42 during midday trading on Tuesday, reaching $19.98. The company’s stock had a trading volume of 2,803,674 shares, compared to its average volume of 1,596,614. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of 9.08 and a beta of 1.49. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.54 and a current ratio of 0.66. New Fortress Energy has a 1 year low of $19.77 and a 1 year high of $40.04. The stock has a fifty day simple moving average of $24.46 and a two-hundred day simple moving average of $29.80.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. The company had revenue of $690.30 million for the quarter, compared to the consensus estimate of $602.41 million. During the same quarter last year, the company earned $0.90 earnings per share. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. On average, equities research analysts predict that New Fortress Energy will post 1.99 EPS for the current year.

New Fortress Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Saturday, June 15th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.00%. The ex-dividend date was Friday, June 14th. New Fortress Energy’s dividend payout ratio is presently 18.18%.

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.