New Fortress Energy Inc. (NASDAQ:NFE) Director John J. Mack bought 24,000 shares of the company’s stock in a transaction on Monday, May 10th. The stock was purchased at an average cost of $39.88 per share, for a total transaction of $957,120.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
NFE traded down $1.55 during midday trading on Wednesday, reaching $37.20. The company’s stock had a trading volume of 602,622 shares, compared to its average volume of 528,852. The stock has a market cap of $6.55 billion, a P/E ratio of -11.73 and a beta of 1.72. The company has a fifty day simple moving average of $45.83 and a 200 day simple moving average of $47.00. The company has a current ratio of 1.26, a quick ratio of 1.17 and a debt-to-equity ratio of 9.93. New Fortress Energy Inc. has a twelve month low of $11.48 and a twelve month high of $65.90.
New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Friday, May 7th. The company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.26). New Fortress Energy had a negative return on equity of 17.68% and a negative net margin of 50.42%. The firm had revenue of $145.70 million during the quarter, compared to the consensus estimate of $189.44 million. The company’s quarterly revenue was up 95.6% on a year-over-year basis. Sell-side analysts expect that New Fortress Energy Inc. will post -0.55 earnings per share for the current year.
A number of research analysts have recently commented on the company. Zacks Investment Research lowered New Fortress Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 24th. Stifel Nicolaus raised New Fortress Energy from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Monday, March 22nd. Credit Suisse Group increased their price objective on New Fortress Energy from $37.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, January 26th. Evercore ISI increased their price objective on New Fortress Energy from $53.00 to $67.00 in a report on Friday, January 15th. Finally, TheStreet lowered New Fortress Energy from a “c” rating to a “d+” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. New Fortress Energy has an average rating of “Buy” and an average price target of $43.15.
Hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. bought a new stake in shares of New Fortress Energy in the 1st quarter worth approximately $47,000. Citigroup Inc. lifted its position in shares of New Fortress Energy by 300.0% during the 4th quarter. Citigroup Inc. now owns 1,396 shares of the company’s stock worth $75,000 after buying an additional 1,047 shares during the period. Rational Advisors LLC bought a new position in shares of New Fortress Energy during the 1st quarter worth approximately $156,000. Price T Rowe Associates Inc. MD bought a new position in shares of New Fortress Energy during the 4th quarter worth approximately $236,000. Finally, Illinois Municipal Retirement Fund bought a new position in shares of New Fortress Energy during the 4th quarter worth approximately $359,000. Institutional investors own 38.50% of the company’s stock.
About New Fortress Energy
New Fortress Energy Inc operates as an integrated gas-to-power infrastructure company, provides energy and development services to end-users worldwide. The company engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.
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