Short Interest in New Fortress Energy Inc. (NASDAQ:NFE) Grows By 20.2%

New Fortress Energy Inc. (NASDAQ:NFE) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 25,770,000 shares, an increase of 20.2% from the August 31st total of 21,440,000 shares. Based on an average daily trading volume, of 3,640,000 shares, the short-interest ratio is currently 7.1 days. Currently, 22.3% of the company’s shares are sold short.

Institutional Trading of New Fortress Energy

A number of large investors have recently bought and sold shares of NFE. American National Bank purchased a new position in shares of New Fortress Energy in the second quarter valued at $26,000. Benjamin F. Edwards & Company Inc. grew its position in shares of New Fortress Energy by 563.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock valued at $42,000 after purchasing an additional 1,178 shares in the last quarter. Quarry LP grew its position in shares of New Fortress Energy by 125.7% in the second quarter. Quarry LP now owns 2,250 shares of the company’s stock valued at $49,000 after purchasing an additional 1,253 shares in the last quarter. ORG Partners LLC grew its position in shares of New Fortress Energy by 987.8% in the second quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock valued at $77,000 after purchasing an additional 3,408 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in New Fortress Energy during the first quarter valued at $95,000. 58.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays decreased their price target on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Stifel Nicolaus decreased their target price on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, August 12th. BTIG Research decreased their target price on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $23.40.

New Fortress Energy Stock Down 7.0 %

Shares of NFE stock traded down $0.68 during trading hours on Monday, reaching $9.09. The company had a trading volume of 269,624 shares, compared to its average volume of 2,294,087. The business has a fifty day simple moving average of $13.83 and a 200-day simple moving average of $21.55. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 4.13 and a beta of 1.53. New Fortress Energy has a 12 month low of $8.85 and a 12 month high of $40.04. The company has a debt-to-equity ratio of 4.38, a current ratio of 0.72 and a quick ratio of 0.63.

New Fortress Energy (NASDAQ:NFE) last released its earnings results on Friday, August 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The firm had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $465.52 million. During the same period in the prior year, the business earned $0.58 earnings per share. The business’s quarterly revenue was down 23.7% compared to the same quarter last year. On average, research analysts expect that New Fortress Energy will post 0.54 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date was Friday, September 13th. New Fortress Energy’s dividend payout ratio is currently 18.18%.

New Fortress Energy Company 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.