Gotham Asset Management LLC Takes Position in New Fortress Energy Inc. (NASDAQ:NFE)

Gotham Asset Management LLC acquired a new position in New Fortress Energy Inc. (NASDAQ:NFE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 42,351 shares of the company’s stock, valued at approximately $640,000.

A number of other hedge funds have also bought and sold shares of the business. Allworth Financial LP boosted its stake in shares of New Fortress Energy by 2,156.0% in the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock worth $32,000 after buying an additional 1,962 shares during the last quarter. Quarry LP bought a new position in New Fortress Energy in the fourth quarter valued at about $64,000. US Bancorp DE boosted its position in New Fortress Energy by 31.5% in the fourth quarter. US Bancorp DE now owns 4,696 shares of the company’s stock worth $71,000 after purchasing an additional 1,126 shares during the last quarter. Ancora Advisors LLC bought a new stake in shares of New Fortress Energy during the 4th quarter valued at about $91,000. Finally, KBC Group NV increased its position in shares of New Fortress Energy by 121.1% during the 4th quarter. KBC Group NV now owns 7,596 shares of the company’s stock valued at $115,000 after purchasing an additional 4,160 shares during the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on NFE. Stifel Nicolaus dropped their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a research report on Wednesday, March 12th. Morgan Stanley decreased their target price on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 4th. Finally, Citigroup cut their price target on New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Insider Buying and Selling

In related news, CFO Christopher S. Guinta bought 5,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the acquisition, the chief financial officer now owns 206,653 shares of the company’s stock, valued at $1,771,016.21. This represents a 2.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 29.40% of the stock is currently owned by company insiders.

New Fortress Energy Stock Performance

Shares of NASDAQ NFE opened at $2.66 on Monday. The stock has a market cap of $728.23 million, a PE ratio of 2.92 and a beta of 1.45. New Fortress Energy Inc. has a 1 year low of $2.26 and a 1 year high of $27.65. The firm has a fifty day moving average price of $6.97 and a 200-day moving average price of $10.39. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. The business had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. Equities analysts anticipate that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.

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.