Pictet Asset Management Holding SA Purchases Shares of 23,408 New Fortress Energy Inc. (NASDAQ:NFE)

Pictet Asset Management Holding SA acquired a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 23,408 shares of the company’s stock, valued at approximately $354,000.

Several other hedge funds have also modified their holdings of NFE. Raymond James Financial Inc. acquired a new stake in New Fortress Energy in the fourth quarter valued at approximately $787,000. Stifel Financial Corp acquired a new stake in shares of New Fortress Energy in the 3rd quarter valued at $990,000. Redwood Wealth Management Group LLC purchased a new stake in shares of New Fortress Energy during the 4th quarter worth $749,000. Y Intercept Hong Kong Ltd acquired a new position in shares of New Fortress Energy during the fourth quarter worth $1,252,000. Finally, Norges Bank purchased a new position in New Fortress Energy in the fourth quarter valued at $10,135,000. 58.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at New Fortress Energy

In other news, CFO Christopher S. Guinta bought 5,000 shares of New Fortress Energy stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the purchase, the chief financial officer now owns 206,653 shares of the company’s stock, valued at approximately $1,771,016.21. The trade was a 2.48 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 37.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on NFE shares. Citigroup lowered their price objective on New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday. Stifel Nicolaus lowered their price target on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a report on Wednesday, March 12th. Finally, Morgan Stanley lowered their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.83.

New Fortress Energy Stock Down 13.0 %

NFE stock opened at $5.81 on Friday. New Fortress Energy Inc. has a 12 month low of $4.80 and a 12 month high of $29.46. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 6.38 and a beta of 1.52. The company has a fifty day moving average price of $9.92 and a 200 day moving average price of $11.02.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.07. The business had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. Sell-side analysts expect that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.

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.