King Luther Capital Management Corp Sells 1,042,000 Shares of New Fortress Energy LLC $NFE

King Luther Capital Management Corp trimmed its holdings in New Fortress Energy LLC (NASDAQ:NFE) by 51.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,000,000 shares of the company’s stock after selling 1,042,000 shares during the quarter. King Luther Capital Management Corp’s holdings in New Fortress Energy were worth $1,140,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Long Focus Capital Management LLC grew its position in New Fortress Energy by 43.7% in the third quarter. Long Focus Capital Management LLC now owns 7,400,000 shares of the company’s stock worth $16,354,000 after acquiring an additional 2,250,000 shares in the last quarter. UBS Group AG grew its position in New Fortress Energy by 131.9% in the fourth quarter. UBS Group AG now owns 2,220,203 shares of the company’s stock worth $2,531,000 after acquiring an additional 1,262,862 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of New Fortress Energy by 1,488.1% in the second quarter. BNP Paribas Financial Markets now owns 1,312,564 shares of the company’s stock worth $4,358,000 after buying an additional 1,229,913 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of New Fortress Energy by 3,088.3% in the second quarter. AQR Capital Management LLC now owns 1,496,579 shares of the company’s stock worth $4,692,000 after buying an additional 1,449,639 shares during the last quarter. Finally, PDT Partners LLC lifted its stake in shares of New Fortress Energy by 503.4% in the second quarter. PDT Partners LLC now owns 972,741 shares of the company’s stock worth $3,230,000 after buying an additional 811,542 shares during the last quarter. 58.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of New Fortress Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, New Fortress Energy has an average rating of “Reduce” and an average price target of $7.00.

New Fortress Energy Price Performance

Shares of New Fortress Energy stock opened at $0.56 on Friday. The firm has a fifty day simple moving average of $0.66 and a 200-day simple moving average of $1.04. The company has a current ratio of 0.13, a quick ratio of 0.11 and a debt-to-equity ratio of 3.57. New Fortress Energy LLC has a 1-year low of $0.55 and a 1-year high of $4.96. The stock has a market capitalization of $160.18 million, a price-to-earnings ratio of -0.25 and a beta of 1.34.

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

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.