Vident Advisory LLC Purchases New Shares in New Fortress Energy LLC $NFE

Vident Advisory LLC purchased a new stake in New Fortress Energy LLC (NASDAQ:NFE) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 12,824 shares of the company’s stock, valued at approximately $107,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. US Bancorp DE grew its stake in shares of New Fortress Energy by 81.7% in the 1st quarter. US Bancorp DE now owns 8,534 shares of the company’s stock worth $71,000 after buying an additional 3,838 shares during the last quarter. CWM LLC boosted its stake in New Fortress Energy by 46.9% during the 1st quarter. CWM LLC now owns 9,065 shares of the company’s stock valued at $75,000 after purchasing an additional 2,895 shares during the last quarter. Hardin Capital Partners LLC bought a new position in shares of New Fortress Energy during the 1st quarter valued at $83,000. Chicago Partners Investment Group LLC bought a new position in shares of New Fortress Energy during the 1st quarter valued at $84,000. Finally, Forum Financial Management LP bought a new position in shares of New Fortress Energy during the 1st quarter valued at $87,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

Analyst Upgrades and Downgrades

NFE has been the topic of a number of recent research reports. Compass Point initiated coverage on New Fortress Energy in a report on Tuesday, July 1st. They issued a “buy” rating and a $8.50 target price on the stock. Zacks Research upgraded New Fortress Energy to a “hold” rating in a research report on Monday, August 11th. BTIG Research lowered New Fortress Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, June 26th. Johnson Rice downgraded shares of New Fortress Energy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $7.00 to $4.00 in a research note on Wednesday, August 13th. Finally, Capital One Financial reaffirmed an “underweight” rating on shares of New Fortress Energy in a research note on Monday. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, New Fortress Energy presently has a consensus rating of “Hold” and an average target price of $7.88.

New Fortress Energy Trading Down 5.7%

Shares of New Fortress Energy stock opened at $1.32 on Thursday. New Fortress Energy LLC has a fifty-two week low of $1.26 and a fifty-two week high of $16.66. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.95 and a current ratio of 0.67. The firm has a 50-day simple moving average of $3.03 and a two-hundred day simple moving average of $4.89. The company has a market cap of $361.94 million, a P/E ratio of -0.34 and a beta of 0.99.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Friday, September 5th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.55). New Fortress Energy had a negative return on equity of 22.72% and a negative net margin of 48.94%.The company had revenue of $432.29 million for the quarter, compared to analyst estimates of $480.47 million. During the same quarter last year, the company earned ($0.41) EPS. The firm’s revenue for the quarter was down 29.5% on a year-over-year basis. As a group, equities analysts predict that New Fortress Energy LLC will post 0.36 earnings per share for the current fiscal year.

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.