Insider Buying: New Fortress Energy Inc. (NASDAQ:NFE) CFO Buys 5,000 Shares of Stock

New Fortress Energy Inc. (NASDAQ:NFE) CFO Christopher S. Guinta bought 5,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the purchase, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

New Fortress Energy Price Performance

New Fortress Energy stock opened at $9.26 on Friday. The business’s 50-day simple moving average is $12.73 and its 200 day simple moving average is $11.42. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 10.18 and a beta of 1.58. New Fortress Energy Inc. has a 12-month low of $7.58 and a 12-month high of $31.89. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06.

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

Hedge Funds Weigh In On New Fortress Energy

Several hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in New Fortress Energy by 2.0% during the fourth quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company’s stock worth $730,000 after buying an additional 935 shares during the last quarter. US Bancorp DE boosted its holdings in New Fortress Energy by 31.5% during the fourth quarter. US Bancorp DE now owns 4,696 shares of the company’s stock worth $71,000 after buying an additional 1,126 shares during the last quarter. KBC Group NV boosted its holdings in New Fortress Energy by 116.9% during the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after buying an additional 1,852 shares during the last quarter. Allworth Financial LP boosted its holdings in New Fortress Energy by 2,156.0% during the fourth 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. Finally, GAMMA Investing LLC boosted its holdings in New Fortress Energy by 148.5% during the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after buying an additional 2,370 shares during the last quarter. Institutional investors own 58.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NFE shares. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price for the company in a research note on Wednesday, December 4th. Morgan Stanley lowered their target price on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus lowered their target price on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price 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.