Deltroit Asset Management UK LLP Takes $2.05 Million Position in New Fortress Energy LLC $NFE

Deltroit Asset Management UK LLP purchased a new stake in New Fortress Energy LLC (NASDAQ:NFE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,800,000 shares of the company’s stock, valued at approximately $2,052,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vise Technologies Inc. acquired a new stake in shares of New Fortress Energy in the fourth quarter valued at approximately $37,000. Daiwa Securities Group Inc. raised its position in shares of New Fortress Energy by 85.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 26,086 shares of the company’s stock valued at $30,000 after buying an additional 11,992 shares in the last quarter. Intech Investment Management LLC bought a new position in New Fortress Energy in the fourth quarter valued at approximately $70,000. Geode Capital Management LLC increased its stake in New Fortress Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 3,697,121 shares of the company’s stock valued at $4,215,000 after acquiring an additional 12,838 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in New Fortress Energy in the fourth quarter valued at approximately $37,000. 58.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of New Fortress Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, New Fortress Energy presently has an average rating of “Reduce” and an average target price of $7.00.

New Fortress Energy Stock Performance

Shares of NASDAQ:NFE opened at $0.50 on Friday. The company’s 50 day simple moving average is $0.64 and its 200 day simple moving average is $1.02. The stock has a market capitalization of $143.79 million, a price-to-earnings ratio of -0.22 and a beta of 1.28. The company has a debt-to-equity ratio of 3.57, a current ratio of 0.13 and a quick ratio of 0.11. New Fortress Energy LLC has a 1 year low of $0.50 and a 1 year high of $4.96.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.21). The firm had revenue of $226.95 million during the quarter, compared to the consensus estimate of $508.60 million. New Fortress Energy had a negative net margin of 164.16% and a negative return on equity of 253.73%. As a group, research analysts predict that New Fortress Energy LLC will post -1.25 EPS for the current fiscal year.

New Fortress Energy 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.