Nfe Smrs Holdings Llc Sells 281,423 Shares of New Fortress Energy Inc. (NASDAQ:NFE) Stock

New Fortress Energy Inc. (NASDAQ:NFE) major shareholder Nfe Smrs Holdings Llc sold 281,423 shares of New Fortress Energy stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $41.19, for a total transaction of $11,591,813.37. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Nfe Smrs Holdings Llc also recently made the following trade(s):

  • On Friday, June 4th, Nfe Smrs Holdings Llc sold 108,871 shares of New Fortress Energy stock. The shares were sold at an average price of $40.30, for a total transaction of $4,387,501.30.
  • On Wednesday, June 2nd, Nfe Smrs Holdings Llc sold 70,329 shares of New Fortress Energy stock. The stock was sold at an average price of $42.59, for a total transaction of $2,995,312.11.
  • On Thursday, May 27th, Nfe Smrs Holdings Llc sold 242,671 shares of New Fortress Energy stock. The stock was sold at an average price of $42.93, for a total transaction of $10,417,866.03.

NASDAQ NFE traded up $0.60 during trading on Thursday, reaching $40.53. 495,579 shares of the company’s stock traded hands, compared to its average volume of 523,039. New Fortress Energy Inc. has a 12-month low of $11.48 and a 12-month high of $65.90. The company has a debt-to-equity ratio of 4.26, a quick ratio of 2.66 and a current ratio of 2.80. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of -14.37 and a beta of 1.65. The company has a 50 day simple moving average of $43.53.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Friday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.26). The business had revenue of $145.70 million for the quarter, compared to analysts’ expectations of $189.44 million. New Fortress Energy had a negative net margin of 40.46% and a negative return on equity of 28.02%. New Fortress Energy’s revenue for the quarter was up 95.6% compared to the same quarter last year. As a group, analysts predict that New Fortress Energy Inc. will post 1.15 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 11th. Stockholders of record on Tuesday, June 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, May 28th. New Fortress Energy’s payout ratio is -72.73%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NFE. Tuttle Tactical Management bought a new position in shares of New Fortress Energy during the 1st quarter worth approximately $465,000. Citigroup Inc. increased its position in shares of New Fortress Energy by 300.0% during the fourth quarter. Citigroup Inc. now owns 1,396 shares of the company’s stock worth $75,000 after purchasing an additional 1,047 shares in the last quarter. Federated Hermes Inc. increased its position in shares of New Fortress Energy by 26.2% during the fourth quarter. Federated Hermes Inc. now owns 4,157,871 shares of the company’s stock worth $222,820,000 after purchasing an additional 863,871 shares in the last quarter. Norges Bank acquired a new stake in shares of New Fortress Energy in the 4th quarter worth $804,000. Finally, Endurance Wealth Management Inc. acquired a new stake in shares of New Fortress Energy in the 1st quarter worth $321,000. 41.44% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have issued reports on NFE. Stifel Nicolaus raised shares of New Fortress Energy from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, March 16th. Morgan Stanley restated an “overweight” rating and set a $55.00 price objective on shares of New Fortress Energy in a report on Thursday, May 13th. Zacks Investment Research upgraded New Fortress Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 21st. TheStreet cut shares of New Fortress Energy from a “c” rating to a “d+” rating in a report on Monday, May 10th. Finally, Credit Suisse Group decreased their price objective on shares of New Fortress Energy from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, June 2nd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $43.85.

New Fortress Energy Company Profile

New Fortress Energy Inc operates as an integrated gas-to-power infrastructure company, provides energy and development services to end-users worldwide. The company engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.

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Insider Buying and Selling by Quarter for New Fortress Energy (NASDAQ:NFE)

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