Ancora Advisors LLC Purchases Shares of 6,000 New Fortress Energy Inc. (NASDAQ:NFE)

Ancora Advisors LLC purchased a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,000 shares of the company’s stock, valued at approximately $91,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NFE. Aristeia Capital L.L.C. purchased a new stake in New Fortress Energy in the fourth quarter worth approximately $310,000. Widmann Financial Services Inc. purchased a new stake in shares of New Fortress Energy in the 4th quarter valued at $265,000. Schonfeld Strategic Advisors LLC grew its holdings in shares of New Fortress Energy by 101.3% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 11,151 shares of the company’s stock valued at $169,000 after purchasing an additional 857,711 shares during the last quarter. Northern Trust Corp raised its position in New Fortress Energy by 66.0% in the 4th quarter. Northern Trust Corp now owns 524,244 shares of the company’s stock worth $7,927,000 after purchasing an additional 208,497 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in New Fortress Energy by 58.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 33,742 shares of the company’s stock worth $510,000 after purchasing an additional 12,435 shares during the last quarter. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NFE. Citigroup reduced their price objective on New Fortress Energy from $34.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a research note on Wednesday, March 12th. Stifel Nicolaus cut their target price on shares of New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, Morgan Stanley lowered their price target on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company 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 stock. According to data from MarketBeat, New Fortress Energy currently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Insider Transactions at New Fortress Energy

In related news, CFO Christopher S. Guinta purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought 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 directly owns 206,653 shares of the company’s stock, valued at approximately $1,771,016.21. This represents a 2.48 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 37.10% of the company’s stock.

New Fortress Energy Stock Performance

Shares of NFE stock opened at $5.95 on Thursday. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 6.54 and a beta of 1.45. The stock has a fifty day moving average of $7.54 and a 200 day moving average of $10.52. New Fortress Energy Inc. has a 52 week low of $4.72 and a 52 week high of $29.11. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The firm had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. As a group, research analysts expect that New Fortress Energy Inc. will post 0.36 earnings per share for the current 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.