New Fortress Energy Inc. (NASDAQ:NFE) Short Interest Up 22.7% in March

New Fortress Energy Inc. (NASDAQ:NFE) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 38,830,000 shares, a growth of 22.7% from the February 28th total of 31,650,000 shares. Approximately 21.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,090,000 shares, the days-to-cover ratio is presently 7.6 days.

Insider Transactions at New Fortress Energy

In other news, CFO Christopher S. Guinta bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the transaction, the chief financial officer now owns 206,653 shares of the company’s stock, valued at approximately $1,771,016.21. This represents a 2.48 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. California State Teachers Retirement System boosted its holdings in New Fortress Energy by 58.4% during the 4th quarter. California State Teachers Retirement System now owns 92,604 shares of the company’s stock valued at $1,400,000 after acquiring an additional 34,142 shares during the period. American Assets Investment Management LLC lifted its position in shares of New Fortress Energy by 64.8% during the fourth quarter. American Assets Investment Management LLC now owns 188,012 shares of the company’s stock worth $2,843,000 after purchasing an additional 73,947 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of New Fortress Energy by 16.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 27,425 shares of the company’s stock valued at $415,000 after purchasing an additional 3,778 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of New Fortress Energy by 40.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 197,427 shares of the company’s stock worth $2,985,000 after purchasing an additional 56,760 shares during the last quarter. Finally, Waverly Advisors LLC purchased a new position in New Fortress Energy in the 4th quarter worth about $242,000. Institutional investors own 58.61% of the company’s stock.

New Fortress Energy Trading Up 13.1 %

NASDAQ NFE traded up $0.99 on Wednesday, hitting $8.57. 10,053,949 shares of the stock were exchanged, compared to its average volume of 4,306,357. New Fortress Energy has a 52-week low of $7.20 and a 52-week high of $30.71. The firm has a market capitalization of $2.35 billion, a P/E ratio of 9.42 and a beta of 1.58. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The stock has a fifty day moving average price of $11.52 and a two-hundred day moving average price of $11.30.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating the consensus estimate 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 company had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. Research analysts forecast that New Fortress Energy will post 0.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NFE has been the topic of several recent research reports. Stifel Nicolaus decreased their price objective on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a research note on Wednesday, March 12th. Finally, Morgan Stanley dropped their price objective on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $15.00.

About New Fortress Energy

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.