New Fortress Energy Inc. (NASDAQ:NFE) Short Interest Up 18.9% in June

New Fortress Energy Inc. (NASDAQ:NFE) saw a large growth in short interest in June. As of June 15th, there was short interest totalling 17,650,000 shares, a growth of 18.9% from the May 31st total of 14,850,000 shares. Based on an average daily volume of 1,760,000 shares, the short-interest ratio is currently 10.0 days. Approximately 15.3% of the company’s shares are short sold.

New Fortress Energy Stock Down 2.1 %

Shares of New Fortress Energy stock traded down $0.42 during trading on Tuesday, hitting $19.98. The company’s stock had a trading volume of 2,803,294 shares, compared to its average volume of 1,596,611. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.54 and a current ratio of 0.66. The company has a fifty day simple moving average of $24.62 and a two-hundred day simple moving average of $29.93. The company has a market capitalization of $4.10 billion, a PE ratio of 9.07 and a beta of 1.49. New Fortress Energy has a 52 week low of $19.77 and a 52 week high of $40.04.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The business had revenue of $690.30 million during the quarter, compared to analyst estimates of $602.41 million. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. New Fortress Energy’s revenue was up 19.2% compared to the same quarter last year. During the same period last year, the business earned $0.90 EPS. Equities research analysts predict that New Fortress Energy will post 1.99 earnings per share for the current year.

New Fortress Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Saturday, June 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Friday, June 14th. New Fortress Energy’s payout ratio is presently 18.18%.

Institutional Trading of New Fortress Energy

A number of institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its holdings in shares of New Fortress Energy by 5.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,730 shares of the company’s stock valued at $221,000 after acquiring an additional 319 shares during the last quarter. Hohimer Wealth Management LLC boosted its holdings in shares of New Fortress Energy by 1.3% during the 3rd quarter. Hohimer Wealth Management LLC now owns 46,651 shares of the company’s stock valued at $1,529,000 after acquiring an additional 589 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of New Fortress Energy by 5.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,081 shares of the company’s stock valued at $531,000 after acquiring an additional 716 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of New Fortress Energy by 1.3% during the 4th quarter. Maryland State Retirement & Pension System now owns 58,877 shares of the company’s stock valued at $2,221,000 after acquiring an additional 736 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of New Fortress Energy by 10.9% in the first quarter. Tidal Investments LLC now owns 10,297 shares of the company’s stock worth $315,000 after buying an additional 1,009 shares during the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of New Fortress Energy from $35.00 to $33.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. Barclays dropped their price target on shares of New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, May 6th. Finally, Stifel Nicolaus dropped their price target on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.17.

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.