AXQ Capital LP Has $860,000 Stake in New Fortress Energy Inc. (NASDAQ:NFE)

AXQ Capital LP decreased its position in New Fortress Energy Inc. (NASDAQ:NFE) by 60.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,853 shares of the company’s stock after selling 85,198 shares during the period. AXQ Capital LP’s holdings in New Fortress Energy were worth $860,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of NFE. KBC Group NV lifted its holdings in New Fortress Energy by 116.9% during the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after acquiring an additional 1,852 shares during the period. Allworth Financial LP lifted its holdings in New Fortress Energy by 2,156.0% during the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock worth $32,000 after acquiring an additional 1,962 shares during the period. GAMMA Investing LLC lifted its holdings in 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 acquiring an additional 2,370 shares during the period. US Bancorp DE lifted its holdings in New Fortress Energy by 31.5% during the fourth quarter. US Bancorp DE now owns 4,696 shares of the company’s stock worth $71,000 after acquiring an additional 1,126 shares during the period. Finally, Captrust Financial Advisors bought a new stake in New Fortress Energy during the third quarter worth $101,000. Institutional investors and hedge funds own 58.61% of the company’s stock.

Insider Transactions at New Fortress Energy

In related news, CFO Christopher S. Guinta bought 5,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought 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 in the company, valued at approximately $1,771,016.21. The trade was a 2.48 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 37.10% of the company’s stock.

New Fortress Energy Price Performance

New Fortress Energy stock opened at $11.17 on Friday. New Fortress Energy Inc. has a 52 week low of $7.58 and a 52 week high of $30.80. The business has a 50-day simple moving average of $12.29 and a 200 day simple moving average of $11.35. 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 stock has a market cap of $3.06 billion, a price-to-earnings ratio of 12.27 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. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. The firm had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $613.24 million. On average, research analysts forecast that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NFE. Morgan Stanley lowered their target price 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. Stifel Nicolaus lowered their target price on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a research note on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.00.

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.