New Fortress Energy LLC (NASDAQ:NFE – Get Free Report) shares saw an uptick in trading volume on Monday . Approximately 137,926 shares were traded during trading, a decline of 13% from the previous session’s volume of 158,029 shares.The stock last traded at $13.6050 and had previously closed at $16.48.
Analyst Ratings Changes
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of New Fortress Energy in a research report on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, New Fortress Energy has an average rating of “Reduce”.
Check Out Our Latest Stock Analysis on NFE
New Fortress Energy Price Performance
New Fortress Energy (NASDAQ:NFE – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($65.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.50) by ($54.50). The firm had revenue of $312.50 million for the quarter, compared to analyst estimates of $511.60 million. New Fortress Energy had a negative net margin of 149.40% and a negative return on equity of 795.34%. Analysts anticipate that New Fortress Energy LLC will post -1.19 EPS for the current fiscal year.
Institutional Investors Weigh In On New Fortress Energy
Hedge funds and other institutional investors have recently made changes to their positions in the company. Rubric Capital Management LP lifted its holdings in shares of New Fortress Energy by 1.5% during the 3rd quarter. Rubric Capital Management LP now owns 24,767,087 shares of the company’s stock valued at $54,735,000 after buying an additional 367,087 shares during the last quarter. Shay Capital LLC increased its holdings in New Fortress Energy by 272.1% in the third quarter. Shay Capital LLC now owns 5,675,000 shares of the company’s stock worth $12,542,000 after buying an additional 4,150,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in New Fortress Energy by 85.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,499,203 shares of the company’s stock worth $5,129,000 after buying an additional 2,072,477 shares during the last quarter. State Street Corp raised its position in New Fortress Energy by 11.3% during the fourth quarter. State Street Corp now owns 3,846,958 shares of the company’s stock valued at $4,386,000 after acquiring an additional 389,297 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in New Fortress Energy by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 3,697,121 shares of the company’s stock valued at $4,215,000 after acquiring an additional 12,838 shares in the last quarter. 58.61% of the stock is owned by hedge funds and other institutional investors.
New Fortress Energy Company Profile
New Fortress Energy Inc (NASDAQ:NFE) is an energy infrastructure company that develops, owns and operates natural gas and liquefied natural gas (LNG) facilities. Its activities span the LNG value chain, including natural gas procurement, liquefaction, transportation, storage, regasification and delivery to customers.
The company provides LNG and natural gas through a network of terminals, pipelines, floating storage and regasification units, and related infrastructure. It also develops and operates gas-fired power generation facilities, supplying electricity and fuel to utilities, commercial and industrial customers, and other users seeking alternatives to more carbon-intensive energy sources.
Founded in 2014, New Fortress Energy has developed projects in the United States, the Caribbean and Latin America, including infrastructure serving markets such as Puerto Rico, Jamaica, Mexico and Brazil.
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