Signaturefd LLC Trims Stake in New Fortress Energy Inc. (NASDAQ:NFE)

Signaturefd LLC trimmed its position in New Fortress Energy Inc. (NASDAQ:NFE) by 34.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,707 shares of the company’s stock after selling 1,417 shares during the quarter. Signaturefd LLC’s holdings in New Fortress Energy were worth $41,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP boosted its stake in shares of New Fortress Energy by 2,156.0% during 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 in the last quarter. GAMMA Investing LLC lifted 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 period. US Bancorp DE boosted 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 valued at $71,000 after acquiring an additional 1,126 shares in the last quarter. Captrust Financial Advisors purchased a new position in shares of New Fortress Energy in the 3rd quarter valued at $101,000. Finally, KBC Group NV raised its position in shares of New Fortress Energy by 121.1% in the 4th quarter. KBC Group NV now owns 7,596 shares of the company’s stock worth $115,000 after acquiring an additional 4,160 shares in the last quarter. Institutional investors own 58.61% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Christopher S. Guinta acquired 5,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of the acquisition, the chief financial officer now directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 37.10% of the company’s stock.

New Fortress Energy Trading Down 2.6 %

Shares of NASDAQ:NFE opened at $11.90 on Wednesday. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The firm has a market capitalization of $3.26 billion, a P/E ratio of 13.08 and a beta of 1.58. The business’s 50-day moving average is $12.20 and its 200 day moving average is $11.36. New Fortress Energy Inc. has a 1 year low of $7.58 and a 1 year high of $30.80.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data 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 net margin of 7.84% and a return on equity of 15.60%. On average, research analysts predict that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.