New Fortress Energy LLC (NASDAQ:NFE) Short Interest Update

New Fortress Energy LLC (NASDAQ:NFE) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 770,814 shares, a drop of 97.4% from the August 31st total of 29,344,221 shares. Based on an average trading volume of 188,590 shares, the short-interest ratio is presently 4.1 days. Currently, 19.1% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

NFE has been the topic of several analyst reports. Wall Street Zen raised New Fortress Energy to a “hold” rating in a research note on Saturday, September 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of New Fortress Energy in a research note on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. NINE MASTS CAPITAL Ltd bought a new stake in shares of New Fortress Energy during the 2nd quarter worth approximately $304,000. Primecap Management Co. CA bought a new position in New Fortress Energy in the 2nd quarter valued at $33,000. X Square Capital LLC purchased a new stake in New Fortress Energy in the second quarter worth $33,000. Bank of New York Mellon Corp purchased a new stake in New Fortress Energy in the second quarter worth $59,000. Finally, Lazard Asset Management LLC lifted its position in shares of New Fortress Energy by 1,765.5% during the first quarter. Lazard Asset Management LLC now owns 1,614,029 shares of the company’s stock worth $952,000 after purchasing an additional 1,527,509 shares during the last quarter. Institutional investors own 58.61% of the company’s stock.

New Fortress Energy Trading Up 2.5%

Shares of NFE traded up $0.15 during midday trading on Friday, hitting $6.25. The stock had a trading volume of 187,980 shares, compared to its average volume of 196,512. The stock’s 50 day moving average is $14.43 and its 200 day moving average is $24.94. The firm has a market cap of $35.69 million, a PE ratio of -0.05 and a beta of 1.35. The company has a debt-to-equity ratio of 3.57, a current ratio of 0.16 and a quick ratio of 0.15. New Fortress Energy has a 1 year low of $5.81 and a 1 year high of $133.00.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Thursday, August 6th. The company reported ($1.30) EPS for the quarter, topping analysts’ consensus estimates of ($10.50) by $9.20. New Fortress Energy had a negative net margin of 149.40% and a negative return on equity of 795.34%. The firm had revenue of $312.50 million during the quarter, compared to analysts’ expectations of $511.60 million. As a group, analysts forecast that New Fortress Energy will post -4.19 EPS for the current fiscal year.

About New Fortress Energy

New Fortress Energy Inc (NASDAQ:NFE) is an energy infrastructure company that develops, owns and operates natural gas and liquefied natural gas (LNG) facilities. Its activities span the LNG value chain, including natural gas procurement, liquefaction, transportation, storage, regasification and delivery to customers.

The company provides LNG and natural gas through a network of terminals, pipelines, floating storage and regasification units, and related infrastructure. It also develops and operates gas-fired power generation facilities, supplying electricity and fuel to utilities, commercial and industrial customers, and other users seeking alternatives to more carbon-intensive energy sources.

Founded in 2014, New Fortress Energy has developed projects in the United States, the Caribbean and Latin America, including infrastructure serving markets such as Puerto Rico, Jamaica, Mexico and Brazil.