New Fortress Energy Inc. (NASDAQ:NFE) Short Interest Up 22.7% in March

New Fortress Energy Inc. (NASDAQ:NFE) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 38,830,000 shares, a growth of 22.7% from the February 28th total of 31,650,000 shares. Approximately 21.8% of the company’s shares are sold short. Based on an average trading volume of 5,090,000 shares, the short-interest ratio is presently 7.6 days.

Insider Buying and Selling at New Fortress Energy

In related news, CFO Christopher S. Guinta bought 5,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On New Fortress Energy

Several institutional investors have recently bought and sold shares of NFE. Allworth Financial LP raised its holdings in shares of New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after purchasing an additional 1,962 shares during the last quarter. GAMMA Investing LLC increased its stake in New Fortress Energy by 148.5% in the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $60,000 after buying an additional 2,370 shares during the last quarter. Quarry LP bought a new stake in New Fortress Energy during the 4th quarter worth about $64,000. US Bancorp DE lifted its position in New Fortress Energy by 31.5% during the 4th quarter. US Bancorp DE now owns 4,696 shares of the company’s stock worth $71,000 after buying an additional 1,126 shares in the last quarter. Finally, Ancora Advisors LLC acquired a new position in shares of New Fortress Energy during the 4th quarter worth about $91,000. Institutional investors own 58.61% of the company’s stock.

New Fortress Energy Stock Down 8.8 %

Shares of NFE stock traded down $0.73 during trading hours on Tuesday, hitting $7.58. 13,937,708 shares of the company were exchanged, compared to its average volume of 4,283,442. New Fortress Energy has a 52 week low of $7.21 and a 52 week high of $30.71. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The business has a 50 day moving average of $11.52 and a two-hundred day moving average of $11.30. The company has a market capitalization of $2.08 billion, a PE ratio of 8.33 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE) last released 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 firm had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. Analysts anticipate that New Fortress Energy will post 0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NFE. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a report on Wednesday, March 12th. Morgan Stanley lowered their price objective on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus reduced their target price on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, New Fortress Energy presently has an average rating of “Hold” and a consensus target price of $15.00.

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.