New Fortress Energy LLC (NASDAQ:NFE) Short Interest Down 17.1% in January

New Fortress Energy LLC (NASDAQ:NFE) saw a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 55,672,662 shares, a decrease of 17.1% from the January 15th total of 67,184,041 shares. Based on an average daily trading volume, of 17,289,027 shares, the days-to-cover ratio is presently 3.2 days. Approximately 27.7% of the company’s shares are short sold. Approximately 27.7% of the company’s shares are short sold. Based on an average daily trading volume, of 17,289,027 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Investors Weigh In On New Fortress Energy

A number of institutional investors and hedge funds have recently made changes to their positions in NFE. Wealth Enhancement Advisory Services LLC bought a new stake in New Fortress Energy during the 4th quarter worth approximately $26,000. Savant Capital LLC bought a new position in New Fortress Energy during the 3rd quarter valued at $28,000. Vanguard Personalized Indexing Management LLC purchased a new position in New Fortress Energy during the 3rd quarter worth $29,000. IFP Advisors Inc grew its stake in shares of New Fortress Energy by 166.3% in the 2nd quarter. IFP Advisors Inc now owns 9,072 shares of the company’s stock worth $30,000 after acquiring an additional 5,665 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of New Fortress Energy by 85.1% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Stock Up 1.7%

New Fortress Energy stock traded up $0.02 during midday trading on Monday, reaching $1.22. The stock had a trading volume of 4,035,568 shares, compared to its average volume of 11,151,184. The company has a fifty day moving average price of $1.28 and a two-hundred day moving average price of $1.70. New Fortress Energy has a 12 month low of $0.98 and a 12 month high of $12.79. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.08. The company has a market capitalization of $347.15 million, a P/E ratio of -0.32 and a beta of 1.03.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Thursday, January 1st. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.40). New Fortress Energy had a negative net margin of 72.92% and a negative return on equity of 43.91%. The firm had revenue of $327.37 million during the quarter, compared to analyst estimates of $716.89 million. During the same period last year, the business posted $0.03 EPS. The company’s revenue was down 42.3% on a year-over-year basis. As a group, equities analysts expect that New Fortress Energy will post 0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on NFE. Weiss Ratings reiterated a “sell (d)” rating on shares of New Fortress Energy in a report on Monday, December 29th. Zacks Research upgraded New Fortress Energy from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.88.

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.