Arkadios Wealth Advisors bought a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,000 shares of the company’s stock, valued at approximately $151,000.
Other hedge funds have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new position in New Fortress Energy during the third quarter worth about $25,000. KBC Group NV grew its holdings in New Fortress Energy by 116.9% during the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after acquiring an additional 1,852 shares during the period. US Bancorp DE boosted its position in shares of New Fortress Energy by 344.6% in the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after purchasing an additional 2,767 shares during the period. Signaturefd LLC boosted its position in shares of 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 boosted its position in shares of New Fortress Energy by 125.7% in the 2nd quarter. Quarry LP now owns 2,250 shares of the company’s stock valued at $49,000 after purchasing an additional 1,253 shares during the period. 58.61% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
NFE has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their price target on New Fortress Energy from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Morgan Stanley lowered New Fortress Energy from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $35.00 to $15.00 in a research report on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.40.
New Fortress Energy Trading Down 3.5 %
Shares of NASDAQ NFE opened at $15.36 on Friday. New Fortress Energy Inc. has a one year low of $7.82 and a one year high of $35.58. The firm has a market capitalization of $3.86 billion, a PE ratio of 16.88 and a beta of 1.50. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The business has a 50-day moving average price of $13.13 and a two-hundred day moving average price of $12.93.
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.
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