William Blair Investment Management LLC Has $186,000 Holdings in New Fortress Energy LLC $NFE

William Blair Investment Management LLC lessened its holdings in shares of New Fortress Energy LLC (NASDAQ:NFE) by 99.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,090 shares of the company’s stock after selling 14,452,536 shares during the period. William Blair Investment Management LLC’s holdings in New Fortress Energy were worth $186,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in New Fortress Energy by 343.8% in the first quarter. GAMMA Investing LLC now owns 17,601 shares of the company’s stock valued at $146,000 after acquiring an additional 13,635 shares during the last quarter. Golden State Wealth Management LLC increased its stake in New Fortress Energy by 101.9% in the first quarter. Golden State Wealth Management LLC now owns 15,751 shares of the company’s stock valued at $131,000 after acquiring an additional 7,951 shares during the last quarter. Western Wealth Management LLC increased its stake in New Fortress Energy by 19.6% in the first quarter. Western Wealth Management LLC now owns 45,351 shares of the company’s stock valued at $377,000 after acquiring an additional 7,446 shares during the last quarter. Teacher Retirement System of Texas bought a new position in New Fortress Energy in the first quarter valued at approximately $130,000. Finally, Catalyst Capital Advisors LLC increased its stake in New Fortress Energy by 65.2% in the first quarter. Catalyst Capital Advisors LLC now owns 908,485 shares of the company’s stock valued at $7,550,000 after acquiring an additional 358,485 shares during the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Stock Performance

NASDAQ NFE opened at $1.97 on Tuesday. The firm’s fifty day moving average price is $2.18 and its two-hundred day moving average price is $3.37. The stock has a market cap of $560.56 million, a PE ratio of -0.51 and a beta of 1.26. 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 0.64 and a current ratio of 0.67.

New Fortress Energy (NASDAQ:NFE) last posted its earnings results on Wednesday, June 18th. The company reported $0.13 earnings per share for the quarter. New Fortress Energy had a negative net margin of 48.94% and a negative return on equity of 22.72%. The firm had revenue of $679.00 million for the quarter. On average, equities analysts expect that New Fortress Energy LLC will post 0.36 EPS for the current fiscal year.

Analyst Ratings Changes

NFE has been the topic of a number of recent analyst reports. Johnson Rice cut shares of New Fortress Energy from a “buy” rating to a “hold” rating and decreased their price objective for the company from $7.00 to $4.00 in a research note on Wednesday, August 13th. Capital One Financial reissued an “underweight” rating on shares of New Fortress Energy in a research note on Monday, September 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of New Fortress Energy in a research note on Tuesday, October 14th. New Street Research set a $8.50 price objective on shares of New Fortress Energy in a research note on Monday, June 30th. Finally, Compass Point started coverage on shares of New Fortress Energy in a research report on Tuesday, July 1st. They issued a “buy” rating and a $8.50 target price on the stock. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, New Fortress Energy presently has a consensus rating of “Hold” and a consensus target price of $7.88.

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.