New Fortress Energy LLC (NASDAQ:NFE) Short Interest Down 17.1% in January

New Fortress Energy LLC (NASDAQ:NFE) was the target of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 55,672,662 shares, a drop of 17.1% from the January 15th total of 67,184,041 shares. Approximately 27.7% of the shares of the company are short sold. Based on an average daily volume of 17,289,027 shares, the short-interest ratio is currently 3.2 days. Based on an average daily volume of 17,289,027 shares, the short-interest ratio is currently 3.2 days. Approximately 27.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

NFE has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of New Fortress Energy in a research report on Monday, December 29th. Zacks Research raised shares of New Fortress Energy from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.88.

New Fortress Energy Stock Performance

Shares of NASDAQ NFE traded down $0.02 during midday trading on Wednesday, reaching $1.26. 4,494,364 shares of the company traded hands, compared to its average volume of 10,365,427. The company has a market cap of $358.54 million, a price-to-earnings ratio of -0.33 and a beta of 1.03. The stock has a 50-day moving average price of $1.28 and a 200 day moving average price of $1.68. New Fortress Energy has a 52 week low of $0.98 and a 52 week high of $12.74. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.17 and a quick ratio of 0.15.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Thursday, January 1st. The company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.40). New Fortress Energy had a negative net margin of 72.92% and a negative return on equity of 43.91%. The company had revenue of $327.37 million during the quarter, compared to the consensus estimate of $716.89 million. During the same quarter in the prior year, the company earned $0.03 EPS. The business’s quarterly revenue was down 42.3% on a year-over-year basis. Sell-side analysts anticipate that New Fortress Energy will post 0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New Fortress Energy

A number of institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new position in New Fortress Energy during the 4th quarter valued at $26,000. Savant Capital LLC acquired a new position in New Fortress Energy during the third quarter worth about $28,000. Vanguard Personalized Indexing Management LLC bought a new stake in New Fortress Energy in the third quarter worth about $29,000. IFP Advisors Inc lifted its holdings in New Fortress Energy by 166.3% in the 2nd quarter. IFP Advisors Inc now owns 9,072 shares of the company’s stock valued at $30,000 after acquiring an additional 5,665 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of New Fortress Energy by 85.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 26,086 shares of the company’s stock valued at $30,000 after purchasing an additional 11,992 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

New Fortress Energy Company Profile

New Fortress Energy is an integrated global energy infrastructure company focused on the development, construction and operation of natural gas-to-power projects and liquefied natural gas (LNG) terminals. The company sources LNG and delivers it via a network of floating storage and regasification units (FSRUs), onshore regasification terminals, and small-scale LNG carriers. By providing reliable natural gas supply solutions, New Fortress Energy aims to displace higher-carbon fuels in power generation, industrial and marine sectors.

The company’s core activities include the design, development and operation of FSRUs and onshore regasification terminals that convert cryogenic LNG back to gas for delivery into domestic transmission networks.