Deltroit Asset Management UK LLP Makes New $2.05 Million Investment in New Fortress Energy LLC $NFE

Deltroit Asset Management UK LLP purchased a new position in shares of New Fortress Energy LLC (NASDAQ:NFE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,800,000 shares of the company’s stock, valued at approximately $2,052,000. Deltroit Asset Management UK LLP owned about 0.63% of New Fortress Energy as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC bought a new stake in shares of New Fortress Energy during the fourth quarter worth approximately $26,000. Savant Capital LLC bought a new stake in shares of New Fortress Energy during the third quarter worth approximately $28,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of New Fortress Energy during the third quarter worth approximately $29,000. Daiwa Securities Group Inc. boosted its holdings in shares of New Fortress Energy by 85.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 26,086 shares of the company’s stock worth $30,000 after acquiring an additional 11,992 shares during the period. Finally, Ballentine Partners LLC bought a new stake in shares of New Fortress Energy during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Trading Down 6.4%

NFE stock opened at $0.50 on Friday. The company has a debt-to-equity ratio of 3.57, a quick ratio of 0.11 and a current ratio of 0.13. The company’s 50-day simple moving average is $0.64 and its 200 day simple moving average is $1.02. New Fortress Energy LLC has a 52 week low of $0.50 and a 52 week high of $4.96. The company has a market capitalization of $143.79 million, a PE ratio of -0.22 and a beta of 1.28.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Thursday, May 14th. The company reported ($1.40) EPS for the quarter, missing the consensus estimate of ($0.19) by ($1.21). New Fortress Energy had a negative net margin of 164.16% and a negative return on equity of 253.73%. The business had revenue of $226.95 million during the quarter, compared to analyst estimates of $508.60 million. As a group, sell-side analysts anticipate that New Fortress Energy LLC will post -1.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut New Fortress Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, April 18th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $7.00.

New Fortress Energy Company Profile

New Fortress Energy is an integrated global energy infrastructure company focused on the development, construction and operation of natural gas-to-power projects and liquefied natural gas (LNG) terminals. The company sources LNG and delivers it via a network of floating storage and regasification units (FSRUs), onshore regasification terminals, and small-scale LNG carriers. By providing reliable natural gas supply solutions, New Fortress Energy aims to displace higher-carbon fuels in power generation, industrial and marine sectors.

The company’s core activities include the design, development and operation of FSRUs and onshore regasification terminals that convert cryogenic LNG back to gas for delivery into domestic transmission networks.