Cruiser Capital Advisors LLC Invests $3.55 Million in New Fortress Energy Inc. (NASDAQ:NFE)

Cruiser Capital Advisors LLC acquired a new stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 234,900 shares of the company’s stock, valued at approximately $3,552,000. New Fortress Energy makes up 2.0% of Cruiser Capital Advisors LLC’s investment portfolio, making the stock its 9th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC increased its position in New Fortress Energy by 40.8% during the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock valued at $235,374,000 after purchasing an additional 4,509,177 shares during the period. Vanguard Group Inc. grew its holdings in New Fortress Energy by 31.8% during the 4th quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock worth $171,147,000 after acquiring an additional 2,728,191 shares during the period. Primecap Management Co. CA raised its position in shares of New Fortress Energy by 13.6% in the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company’s stock worth $198,027,000 after acquiring an additional 1,564,893 shares in the last quarter. King Luther Capital Management Corp acquired a new position in shares of New Fortress Energy in the 4th quarter valued at about $15,120,000. Finally, American Assets Capital Advisers LLC boosted its position in shares of New Fortress Energy by 56.2% during the 4th quarter. American Assets Capital Advisers LLC now owns 2,430,812 shares of the company’s stock valued at $36,754,000 after purchasing an additional 875,045 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at New Fortress Energy

In other news, CFO Christopher S. Guinta acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the purchase, the chief financial officer now owns 206,653 shares in the company, valued at approximately $1,771,016.21. This trade represents a 2.48 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 37.10% of the company’s stock.

New Fortress Energy Stock Up 9.4 %

NFE opened at $12.22 on Tuesday. New Fortress Energy Inc. has a fifty-two week low of $7.58 and a fifty-two week high of $30.80. The firm has a market capitalization of $3.35 billion, a P/E ratio of 13.43 and a beta of 1.58. The company’s 50-day moving average is $12.25 and its 200 day moving average is $11.35. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35.

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 analysts’ consensus estimates of $0.06 by $0.07. The firm had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. Research analysts expect that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NFE. Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a research note on Wednesday, March 12th. Stifel Nicolaus decreased their target price on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Finally, Morgan Stanley cut their price target on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, New Fortress Energy presently has a consensus rating of “Hold” and a consensus price target of $15.00.

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.