Balyasny Asset Management L.P. Takes Position in New Fortress Energy Inc. (NASDAQ:NFE)

Balyasny Asset Management L.P. purchased a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 182,179 shares of the company’s stock, valued at approximately $2,755,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BNP Paribas Financial Markets boosted its stake in New Fortress Energy by 1,114.2% during the 4th quarter. BNP Paribas Financial Markets now owns 28,072 shares of the company’s stock valued at $424,000 after acquiring an additional 25,760 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of New Fortress Energy in the 4th quarter valued at about $3,024,000. Ancora Advisors LLC bought a new position in shares of New Fortress Energy during the fourth quarter worth about $91,000. Aristeia Capital L.L.C. bought a new position in shares of New Fortress Energy during the fourth quarter worth about $310,000. Finally, Widmann Financial Services Inc. acquired a new position in New Fortress Energy in the fourth quarter worth about $265,000. Institutional investors own 58.61% of the company’s stock.

Insider Activity

In other New Fortress Energy news, CFO Christopher S. Guinta purchased 5,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the acquisition, the chief financial officer now owns 206,653 shares in the company, 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 is accessible through the SEC website. Corporate insiders own 37.10% of the company’s stock.

New Fortress Energy Stock Up 3.8%

NASDAQ:NFE opened at $6.36 on Monday. 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 50 day moving average of $7.41 and a 200-day moving average of $10.51. The firm has a market capitalization of $1.74 billion, a PE ratio of 6.99 and a beta of 1.45. New Fortress Energy Inc. has a 52 week low of $4.72 and a 52 week high of $29.11.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Monday, March 3rd. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. The firm had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. Analysts predict that New Fortress Energy Inc. will post 0.36 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on NFE. Citigroup cut 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. Morgan Stanley dropped their price target on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 4th. Stifel Nicolaus decreased their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a research note on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, New Fortress Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

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.