Intech Investment Management LLC Acquires New Stake in New Fortress Energy LLC $NFE

Intech Investment Management LLC acquired a new position in shares of New Fortress Energy LLC (NASDAQ:NFE) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 80,863 shares of the company’s stock, valued at approximately $268,000.

Other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in New Fortress Energy by 166.3% in the 2nd quarter. IFP Advisors Inc now owns 9,072 shares of the company’s stock valued at $30,000 after purchasing an additional 5,665 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in shares of New Fortress Energy in the second quarter valued at approximately $33,000. MQS Management LLC purchased a new position in shares of New Fortress Energy during the second quarter valued at approximately $33,000. Hardin Capital Partners LLC lifted its stake in shares of New Fortress Energy by 50.0% during the second quarter. Hardin Capital Partners LLC now owns 15,000 shares of the company’s stock valued at $54,000 after buying an additional 5,000 shares during the period. Finally, Baader Bank Aktiengesellschaft acquired a new stake in New Fortress Energy during the second quarter worth approximately $56,000. Institutional investors and hedge funds own 58.61% of the company’s stock.

Wall Street Analysts Forecast Growth

NFE has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of New Fortress Energy in a report on Tuesday, October 14th. Capital One Financial reiterated an “underweight” rating on shares of New Fortress Energy in a research note on Monday, September 8th. Johnson Rice downgraded New Fortress Energy from a “buy” rating to a “hold” rating and reduced their target price for the stock from $7.00 to $4.00 in a research report on Wednesday, August 13th. Finally, Zacks Research cut New Fortress Energy from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, New Fortress Energy currently has a consensus rating of “Hold” and an average price target of $7.88.

New Fortress Energy Trading Up 7.4%

NFE stock opened at $1.31 on Tuesday. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.08. The company has a market cap of $372.76 million, a price-to-earnings ratio of -0.34 and a beta of 1.11. The business has a fifty day simple moving average of $1.65 and a 200-day simple moving average of $2.42. New Fortress Energy LLC has a 52 week low of $0.98 and a 52 week high of $16.66.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings results on Wednesday, June 18th. The company reported $0.13 earnings per share (EPS) for the quarter. The firm had revenue of $679.00 million during the quarter. New Fortress Energy had a negative return on equity of 43.91% and a negative net margin of 72.92%. On average, equities research analysts expect that New Fortress Energy LLC will post 0.36 EPS for the current year.

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.