Exchange Traded Concepts LLC Has $3.44 Million Position in New Fortress Energy Inc. (NASDAQ:NFE)

Exchange Traded Concepts LLC grew its holdings in New Fortress Energy Inc. (NASDAQ:NFE) by 59.9% in the fourth quarter, according to the company in its most recent Form 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’s holdings in New Fortress Energy were worth $3,440,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Stifel Financial Corp acquired a new stake in shares of New Fortress Energy in the 3rd quarter valued at $990,000. Vontobel Holding Ltd. acquired a new stake in New Fortress Energy in the third quarter worth about $511,000. GSG Advisors LLC bought a new stake in New Fortress Energy during the 4th quarter worth about $605,000. Pinnacle Associates Ltd. acquired a new position in New Fortress Energy during the 3rd quarter valued at about $890,000. Finally, American Assets Investment Management LLC boosted its stake in shares of New Fortress Energy by 101.6% in the 3rd quarter. American Assets Investment Management LLC now owns 114,065 shares of the company’s stock valued at $1,037,000 after purchasing an additional 57,479 shares during the last quarter. 58.61% of the stock is owned by institutional investors.

New Fortress Energy Trading Down 3.5 %

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NFE shares. Stifel Nicolaus boosted their price target on shares of New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research note 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 on the stock in a research note on Wednesday, December 4th. Finally, Morgan Stanley downgraded New Fortress Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $35.00 to $15.00 in a report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $15.40.

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.