Allianz Asset Management GmbH Makes New $5.17 Million Investment in New Fortress Energy LLC (NASDAQ:NFE)

Allianz Asset Management GmbH bought a new position in New Fortress Energy LLC (NASDAQ:NFE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 661,207 shares of the company's stock, valued at approximately $5,165,000. Allianz Asset Management GmbH owned 0.24% of New Fortress Energy at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in New Fortress Energy during the fourth quarter worth about $64,000. CWM LLC boosted its position in New Fortress Energy by 46.9% during the 1st quarter. CWM LLC now owns 9,065 shares of the company's stock worth $75,000 after acquiring an additional 2,895 shares during the period. Hardin Capital Partners LLC acquired a new stake in New Fortress Energy during the 1st quarter worth about $83,000. Forum Financial Management LP acquired a new stake in New Fortress Energy during the 1st quarter worth about $87,000. Finally, Ancora Advisors LLC acquired a new stake in shares of New Fortress Energy during the 4th quarter valued at about $91,000. 58.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NFE has been the topic of a number of recent analyst reports. Morgan Stanley set a $4.00 price objective on New Fortress Energy and gave the company an "equal weight" rating in a research note on Tuesday, May 27th. Stifel Nicolaus decreased their price objective on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Citigroup lowered their price target on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Compass Point started coverage on New Fortress Energy in a research report on Tuesday, July 1st. They issued a "buy" rating and a $8.50 price target on the stock. Finally, New Street Research set a $8.50 price target on New Fortress Energy in a research report on Monday, June 30th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, New Fortress Energy presently has a consensus rating of "Hold" and a consensus target price of $9.75.

New Fortress Energy Trading Up 5.3%

NASDAQ NFE traded up $0.15 on Friday, reaching $2.88. The company had a trading volume of 5,873,450 shares, compared to its average volume of 9,153,652. The stock's 50 day moving average is $3.20 and its 200-day moving average is $7.19. The stock has a market cap of $788.32 million, a price-to-earnings ratio of -1.28 and a beta of 1.30. The company has a quick ratio of 0.95, a current ratio of 1.00 and a debt-to-equity ratio of 4.77. New Fortress Energy LLC has a 52 week low of $2.01 and a 52 week high of $18.38.

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.