Long Focus Capital Management LLC Buys 2,250,000 Shares of New Fortress Energy LLC $NFE

Long Focus Capital Management LLC lifted its stake in New Fortress Energy LLC (NASDAQ:NFE) by 43.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,400,000 shares of the company’s stock after buying an additional 2,250,000 shares during the quarter. Long Focus Capital Management LLC’s holdings in New Fortress Energy were worth $16,354,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Brevan Howard Capital Management LP increased its holdings in New Fortress Energy by 666.1% in the 3rd quarter. Brevan Howard Capital Management LP now owns 178,127 shares of the company’s stock valued at $394,000 after acquiring an additional 154,877 shares during the last quarter. Clough Capital Partners L P bought a new stake in shares of New Fortress Energy in the third quarter worth about $611,000. Rubric Capital Management LP boosted its stake in New Fortress Energy by 1.5% during the third quarter. Rubric Capital Management LP now owns 24,767,087 shares of the company’s stock valued at $54,735,000 after buying an additional 367,087 shares during the last quarter. Masters Capital Management LLC purchased a new position in New Fortress Energy during the 3rd quarter valued at approximately $2,210,000. Finally, Shay Capital LLC increased its stake in New Fortress Energy by 272.1% in the 3rd quarter. Shay Capital LLC now owns 5,675,000 shares of the company’s stock worth $12,542,000 after acquiring an additional 4,150,000 shares during the last quarter. 58.61% of the stock is owned by hedge funds and other institutional investors.

New Fortress Energy Stock Up 0.9%

NASDAQ NFE opened at $1.09 on Tuesday. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.08. The company has a fifty day moving average of $1.27 and a two-hundred day moving average of $1.49. The firm has a market capitalization of $310.16 million, a price-to-earnings ratio of -0.28 and a beta of 1.05. New Fortress Energy LLC has a 52 week low of $0.98 and a 52 week high of $12.59.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Thursday, January 1st. The company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.40). The firm had revenue of $327.37 million during the quarter, compared to analysts’ expectations of $716.89 million. New Fortress Energy had a negative net margin of 72.92% and a negative return on equity of 43.91%. The company’s revenue was down 42.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. On average, analysts predict that New Fortress Energy LLC will post 0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Zacks Research raised shares of New Fortress Energy from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings restated a “sell (d)” rating on shares of New Fortress Energy in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, New Fortress Energy presently has a consensus rating of “Hold” and a consensus price target of $7.86.

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.