Christopher S. Guinta Buys 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 dated Thursday, March 13th. The stock was acquired at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of the transaction, the chief financial officer now directly owns 206,653 shares of the company’s stock, valued at $1,771,016.21. This trade represents a 2.48 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

New Fortress Energy Stock Performance

Shares of NASDAQ NFE opened at $9.26 on Friday. The business has a fifty day simple moving average of $12.73 and a 200 day simple moving average of $11.42. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 10.18 and a beta of 1.58. New Fortress Energy Inc. has a one year low of $7.58 and a one year high of $31.89.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results on Monday, March 3rd. The company reported $0.13 EPS 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 analyst estimates 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.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NFE. Hood River Capital Management LLC acquired a new position in New Fortress Energy during the fourth quarter worth $155,023,000. Capital World Investors raised its stake in New Fortress Energy by 87.9% during the fourth quarter. Capital World Investors now owns 19,925,022 shares of the company’s stock worth $301,266,000 after acquiring an additional 9,319,985 shares in the last quarter. William Blair Investment Management LLC raised its stake in New Fortress Energy by 40.8% during the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock worth $235,374,000 after acquiring an additional 4,509,177 shares in the last quarter. Primecap Management Co. CA raised its stake in New Fortress Energy by 43.7% during 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. Finally, Vanguard Group Inc. raised its stake in New Fortress Energy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock worth $171,147,000 after acquiring an additional 2,728,191 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Morgan Stanley reduced their price objective on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 4th. Stifel Nicolaus reduced their price objective on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company 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 price objective for the company in a research report on Wednesday, December 4th. Three 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.com, the stock currently has an average rating of “Hold” and an average price target of $15.60.

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.