Federated Hermes Inc. Sells 7,361 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

Federated Hermes Inc. decreased its position in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,077,143 shares of the company’s stock after selling 7,361 shares during the quarter. Federated Hermes Inc. owned about 0.83% of New Fortress Energy worth $31,406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. raised its holdings in shares of New Fortress Energy by 8,438.5% in the 4th quarter. Russell Investments Group Ltd. now owns 40,814 shares of the company’s stock worth $617,000 after acquiring an additional 40,336 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in New Fortress Energy during the 4th quarter worth approximately $155,000. Huber Capital Management LLC raised its stake in shares of New Fortress Energy by 44.9% in the fourth quarter. Huber Capital Management LLC now owns 1,231,644 shares of the company’s stock worth $18,622,000 after purchasing an additional 381,758 shares during the last quarter. Pitcairn Co. bought a new position in shares of New Fortress Energy in the fourth quarter valued at approximately $215,000. Finally, Trexquant Investment LP purchased a new position in shares of New Fortress Energy during the fourth quarter valued at approximately $2,478,000. 58.61% of the stock is owned by institutional investors and hedge funds.

New Fortress Energy Trading Down 5.6 %

NASDAQ NFE opened at $5.42 on Wednesday. The business’s fifty day moving average is $10.44 and its 200-day moving average is $11.10. 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 stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 5.96 and a beta of 1.52. New Fortress Energy Inc. has a one year low of $4.80 and a one year high of $30.19.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Monday, March 3rd. The company reported $0.13 EPS 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. Equities research analysts predict that New Fortress Energy Inc. will post 0.36 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NFE shares. Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a research report on Wednesday, March 12th. Morgan Stanley lowered their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, March 4th. Finally, Stifel Nicolaus cut 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 report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, New Fortress Energy has an average rating of “Hold” and an average price target of $15.00.

Insider Activity at New Fortress Energy

In other news, CFO Christopher S. Guinta acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $8.57 per share, with a total value of $42,850.00. Following the acquisition, the chief financial officer now owns 206,653 shares in the company, valued at $1,771,016.21. The trade was a 2.48 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 37.10% of the stock is owned by company insiders.

New Fortress Energy Profile

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.