New Fortress Energy Inc. (NASDAQ:NFE) Short Interest Up 22.7% in March

New Fortress Energy Inc. (NASDAQ:NFE) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 38,830,000 shares, an increase of 22.7% from the February 28th total of 31,650,000 shares. Based on an average trading volume of 5,090,000 shares, the short-interest ratio is currently 7.6 days. Approximately 21.8% of the company’s stock are sold short.

Analyst Ratings Changes

NFE has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their price objective on shares of 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. Morgan Stanley lowered their price target on 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. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, New Fortress Energy has an average rating of “Hold” and an average price target of $15.00.

Insider Buying and Selling

In related news, CFO Christopher S. Guinta bought 5,000 shares of the stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the purchase, the chief financial officer now owns 206,653 shares of the company’s stock, valued at approximately $1,771,016.21. The trade was a 2.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 37.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NFE. Capital World Investors lifted its holdings in New Fortress Energy by 87.9% during the fourth quarter. Capital World Investors now owns 19,925,022 shares of the company’s stock valued at $301,266,000 after purchasing an additional 9,319,985 shares in the last quarter. William Blair Investment Management LLC lifted its stake in shares of New Fortress Energy by 40.8% during the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock valued at $235,374,000 after buying an additional 4,509,177 shares in the last quarter. Primecap Management Co. CA boosted its holdings in New Fortress Energy by 13.6% in the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company’s stock worth $198,027,000 after buying an additional 1,564,893 shares during the period. Vanguard Group Inc. increased its stake in New Fortress Energy by 31.8% in the 4th quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock worth $171,147,000 after buying an additional 2,728,191 shares in the last quarter. Finally, Hood River Capital Management LLC bought a new stake in New Fortress Energy during the fourth quarter valued at about $155,023,000. 58.61% of the stock is currently owned by institutional investors.

New Fortress Energy Stock Performance

NFE traded up $0.99 during trading on Wednesday, hitting $8.57. The company’s stock had a trading volume of 10,053,949 shares, compared to its average volume of 4,306,357. New Fortress Energy has a one year low of $7.20 and a one year high of $30.71. The business’s 50 day simple moving average is $11.52 and its 200-day simple moving average is $11.30. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The firm has a market cap of $2.35 billion, a PE ratio of 9.42 and a beta of 1.58.

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, beating the consensus estimate of $0.06 by $0.07. The company had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. As a group, sell-side analysts predict that New Fortress Energy will post 0.36 EPS for the current fiscal year.

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.