Proficio Capital Partners LLC Sells 31,427 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

Proficio Capital Partners LLC trimmed its holdings in New Fortress Energy Inc. (NASDAQ:NFE) by 59.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,349 shares of the company’s stock after selling 31,427 shares during the quarter. Proficio Capital Partners LLC’s holdings in New Fortress Energy were worth $323,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. grew its position in New Fortress Energy by 31.6% during the fourth quarter. Victory Capital Management Inc. now owns 19,317 shares of the company’s stock worth $292,000 after buying an additional 4,636 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of New Fortress Energy by 61.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 639,194 shares of the company’s stock worth $9,665,000 after acquiring an additional 242,459 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of New Fortress Energy during the 4th quarter worth approximately $521,000. US Bancorp DE increased its position in shares of New Fortress Energy by 31.5% during the fourth quarter. US Bancorp DE now owns 4,696 shares of the company’s stock valued at $71,000 after purchasing an additional 1,126 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of New Fortress Energy in the fourth quarter valued at $1,252,000. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Stock Performance

Shares of NASDAQ:NFE opened at $11.90 on Wednesday. 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 business’s fifty day moving average price is $12.20 and its two-hundred day moving average price is $11.36. New Fortress Energy Inc. has a fifty-two week low of $7.58 and a fifty-two week high of $30.80. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 13.08 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE) last posted 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. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The business had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. As a group, analysts predict that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus decreased their price target on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a research 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 on the stock in a research note on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $15.00.

Insider Activity at New Fortress Energy

In other news, CFO Christopher S. Guinta bought 5,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $8.57 per share, with a total value 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. This represents a 2.48 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 37.10% of the company’s stock.

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.