R Squared Ltd Buys New Stake in New Fortress Energy LLC $NFE

R Squared Ltd bought a new stake in New Fortress Energy LLC (NASDAQ:NFE) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 31,620 shares of the company’s stock, valued at approximately $105,000.

Several other large investors have also recently made changes to their positions in NFE. Golden State Wealth Management LLC raised its position in New Fortress Energy by 101.9% during the first quarter. Golden State Wealth Management LLC now owns 15,751 shares of the company’s stock worth $131,000 after acquiring an additional 7,951 shares during the period. Western Wealth Management LLC raised its position in New Fortress Energy by 19.6% during the first quarter. Western Wealth Management LLC now owns 45,351 shares of the company’s stock worth $377,000 after acquiring an additional 7,446 shares during the period. Teacher Retirement System of Texas acquired a new position in New Fortress Energy during the first quarter worth $130,000. Catalyst Capital Advisors LLC raised its position in New Fortress Energy by 65.2% during the first quarter. Catalyst Capital Advisors LLC now owns 908,485 shares of the company’s stock worth $7,550,000 after acquiring an additional 358,485 shares during the period. Finally, SL Advisors LLC raised its position in New Fortress Energy by 150.7% during the first quarter. SL Advisors LLC now owns 165,799 shares of the company’s stock worth $1,378,000 after acquiring an additional 99,656 shares during the period. 58.61% of the stock is currently owned by institutional investors and hedge funds.

New Fortress Energy Price Performance

Shares of NASDAQ NFE opened at $1.72 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 5.77. New Fortress Energy LLC has a 52 week low of $1.26 and a 52 week high of $16.66. The firm has a 50-day simple moving average of $2.13 and a 200-day simple moving average of $3.25. The stock has a market capitalization of $489.43 million, a price-to-earnings ratio of -0.45 and a beta of 1.26.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Wednesday, June 18th. The company reported $0.13 earnings per share (EPS) for the quarter. New Fortress Energy had a negative net margin of 48.94% and a negative return on equity of 22.72%. The firm had revenue of $679.00 million during the quarter. On average, equities analysts predict that New Fortress Energy LLC will post 0.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NFE shares. Capital One Financial restated an “underweight” rating on shares of New Fortress Energy in a research report on Monday, September 8th. Compass Point started coverage on shares of New Fortress Energy in a research report on Tuesday, July 1st. They set a “buy” rating and a $8.50 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of New Fortress Energy in a research report on Tuesday, October 14th. New Street Research set a $8.50 target price on shares of New Fortress Energy in a research report on Monday, June 30th. Finally, Johnson Rice cut shares of New Fortress Energy from a “buy” rating to a “hold” rating and reduced their target price for the company from $7.00 to $4.00 in a research report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.88.

New Fortress Energy Company 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.