New Fortress Energy Inc. (NASDAQ:NFE) Stock Position Raised by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its position in New Fortress Energy Inc. (NASDAQ:NFE) by 59.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 227,512 shares of the company’s stock after buying an additional 85,239 shares during the quarter. Exchange Traded Concepts LLC owned about 0.09% of New Fortress Energy worth $3,440,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in shares of New Fortress Energy in the 3rd quarter valued at approximately $25,000. KBC Group NV increased its position in New Fortress Energy by 116.9% in the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after buying an additional 1,852 shares during the period. US Bancorp DE increased its position in New Fortress Energy by 344.6% during the third quarter. US Bancorp DE now owns 3,570 shares of the company’s stock worth $32,000 after acquiring an additional 2,767 shares during the period. Signaturefd LLC boosted its holdings in New Fortress Energy by 409.1% in the 3rd quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock valued at $37,000 after purchasing an additional 3,314 shares during the period. Finally, Quarry LP grew its position in New Fortress Energy by 125.7% in the 2nd quarter. Quarry LP now owns 2,250 shares of the company’s stock worth $49,000 after purchasing an additional 1,253 shares during the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Stifel Nicolaus upped their price objective on shares of New Fortress Energy from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a report on Wednesday, December 4th. Finally, Morgan Stanley downgraded shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $35.00 to $15.00 in a research note on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.40.

New Fortress Energy Stock Down 3.5 %

NFE opened at $15.36 on Friday. New Fortress Energy Inc. has a twelve month low of $7.82 and a twelve month high of $35.58. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 16.88 and a beta of 1.50. The firm’s 50-day simple moving average is $13.13 and its 200-day simple moving average is $12.89. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38.

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.