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

New Fortress Energy Inc. (NASDAQ:NFE) saw a significant increase in short interest in 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. Approximately 15.3% of the company’s shares are sold short. Based on an average daily trading volume, of 1,760,000 shares, the short-interest ratio is currently 10.0 days.

Analysts Set New Price Targets

A number of brokerages have weighed in on NFE. Stifel Nicolaus cut their price objective on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Barclays decreased their price target on shares of New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of New Fortress Energy from $35.00 to $33.00 and set a “hold” rating on the stock in a research report on Thursday, May 9th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.17.

Hedge Funds Weigh In On New Fortress Energy

Several institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its stake in New Fortress Energy by 5.0% during the third quarter. PNC Financial Services Group Inc. now owns 6,730 shares of the company’s stock valued at $221,000 after acquiring an additional 319 shares in the last quarter. Hohimer Wealth Management LLC grew its stake in shares of New Fortress Energy by 1.3% in the 3rd quarter. Hohimer Wealth Management LLC now owns 46,651 shares of the company’s stock worth $1,529,000 after buying an additional 589 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of New Fortress Energy by 5.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,081 shares of the company’s stock worth $531,000 after buying an additional 716 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in shares of New Fortress Energy by 1.3% in the 4th quarter. Maryland State Retirement & Pension System now owns 58,877 shares of the company’s stock worth $2,221,000 after buying an additional 736 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in shares of New Fortress Energy by 10.9% in the 1st quarter. Tidal Investments LLC now owns 10,297 shares of the company’s stock worth $315,000 after buying an additional 1,009 shares in the last quarter. 58.61% of the stock is owned by hedge funds and other institutional investors.

New Fortress Energy Price Performance

Shares of NFE stock traded down $0.42 on Tuesday, hitting $19.98. 2,803,674 shares of the stock traded hands, compared to its average volume of 1,596,614. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 9.08 and a beta of 1.49. New Fortress Energy has a 52 week low of $19.77 and a 52 week high of $40.04. The firm has a 50 day simple moving average of $24.46 and a two-hundred day simple moving average of $29.80. The company has a debt-to-equity ratio of 3.74, a current ratio of 0.66 and a quick ratio of 0.54.

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

New Fortress Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Saturday, June 15th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.40 annualized dividend and a yield of 2.00%. New Fortress Energy’s payout ratio is 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.