New Fortress Energy Inc. (NASDAQ:NFE) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 8,438.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,814 shares of the company’s stock after purchasing an additional 40,336 shares during the quarter. Russell Investments Group Ltd.’s holdings in New Fortress Energy were worth $617,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NFE. Allworth Financial LP raised its position in shares of New Fortress Energy by 2,156.0% during the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock worth $32,000 after buying an additional 1,962 shares in the last quarter. GAMMA Investing LLC raised 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 purchasing an additional 2,370 shares in the last quarter. US Bancorp DE lifted its position in New Fortress Energy by 31.5% in the fourth quarter. US Bancorp DE now owns 4,696 shares of the company’s stock worth $71,000 after purchasing an additional 1,126 shares during the period. KBC Group NV boosted its stake in New Fortress Energy by 121.1% during the 4th quarter. KBC Group NV now owns 7,596 shares of the company’s stock valued at $115,000 after purchasing an additional 4,160 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of New Fortress Energy during the 4th quarter valued at $118,000. Institutional investors own 58.61% of the company’s stock.

New Fortress Energy Trading Down 1.6 %

Shares of NFE opened at $4.89 on Wednesday. The business’s 50-day moving average price is $8.77 and its 200 day moving average price is $10.80. 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 stock has a market capitalization of $1.34 billion, a P/E ratio of 5.37 and a beta of 1.52. New Fortress Energy Inc. has a 1-year low of $4.72 and a 1-year high of $29.11.

New Fortress Energy (NASDAQ:NFE) last released its earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.07. The business 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%. Analysts expect that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

NFE has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a report on Wednesday, March 12th. Stifel Nicolaus dropped their price target on shares of New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday. Citigroup reduced their price objective on shares of New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Finally, Morgan Stanley dropped their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.00.

Insiders Place Their Bets

In other New Fortress Energy news, CFO Christopher S. Guinta acquired 5,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was purchased 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. The trade was a 2.48 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 37.10% of the company’s stock.

New Fortress Energy 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.