Capital World Investors Sells 3,172,931 Shares of New Fortress Energy LLC $NFE

Capital World Investors lessened its position in New Fortress Energy LLC (NASDAQ:NFE) by 47.8% in the third quarter, HoldingsChannel reports. The fund owned 3,465,765 shares of the company’s stock after selling 3,172,931 shares during the quarter. Capital World Investors’ holdings in New Fortress Energy were worth $7,659,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. lifted its holdings in shares of New Fortress Energy by 11.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 37,121 shares of the company’s stock worth $123,000 after purchasing an additional 3,801 shares in the last quarter. California State Teachers Retirement System grew its position in New Fortress Energy by 5.0% in the 2nd quarter. California State Teachers Retirement System now owns 97,267 shares of the company’s stock valued at $323,000 after purchasing an additional 4,663 shares during the period. Osaic Holdings Inc. increased its stake in New Fortress Energy by 244.7% during the 2nd quarter. Osaic Holdings Inc. now owns 11,566 shares of the company’s stock valued at $39,000 after purchasing an additional 8,211 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in New Fortress Energy by 14.5% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 69,517 shares of the company’s stock worth $231,000 after buying an additional 8,818 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its holdings in New Fortress Energy by 100.2% during the third quarter. Apollon Wealth Management LLC now owns 20,021 shares of the company’s stock worth $44,000 after buying an additional 10,021 shares during the last quarter. 58.61% of the stock is owned by institutional investors and hedge funds.

New Fortress Energy Stock Up 2.3%

Shares of NASDAQ:NFE opened at $1.13 on Friday. The business’s 50 day moving average is $1.27 and its 200 day moving average is $1.53. New Fortress Energy LLC has a 12-month low of $0.98 and a 12-month high of $12.59. The stock has a market cap of $320.12 million, a price-to-earnings ratio of -0.29 and a beta of 1.04. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.08.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Thursday, January 1st. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.40). New Fortress Energy had a negative net margin of 72.92% and a negative return on equity of 43.91%. The company had revenue of $327.37 million during the quarter, compared to analysts’ expectations of $716.89 million. During the same period in the previous year, the company posted $0.03 earnings per share. The company’s quarterly revenue was down 42.3% compared to the same quarter last year. On average, sell-side analysts forecast that New Fortress Energy LLC will post 0.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of New Fortress Energy in a report on Monday, December 29th. Zacks Research upgraded shares of New Fortress Energy from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.86.

New Fortress Energy Company Profile

New Fortress Energy is an integrated global energy infrastructure company focused on the development, construction and operation of natural gas-to-power projects and liquefied natural gas (LNG) terminals. The company sources LNG and delivers it via a network of floating storage and regasification units (FSRUs), onshore regasification terminals, and small-scale LNG carriers. By providing reliable natural gas supply solutions, New Fortress Energy aims to displace higher-carbon fuels in power generation, industrial and marine sectors.

The company’s core activities include the design, development and operation of FSRUs and onshore regasification terminals that convert cryogenic LNG back to gas for delivery into domestic transmission networks.