American Assets Investment Management LLC Buys 1,671,094 Shares of New Fortress Energy LLC (NASDAQ:NFE)

Key Points

• American Assets Investment Management LLC significantly increased its holdings in New Fortress Energy, acquiring an additional 1,671,094 shares and lifting its ownership by 888.8% in the first quarter.
• Despite interest from institutional investors, including Quarry LP and US Bancorp DE, analysts have mixed opinions on New Fortress Energy, with price targets ranging from $4.00 to $34.00.
• As of its latest share price of $2.99, New Fortress Energy has a market cap of $819.86 million and a 52-week range between $2.01 and $17.21.

American Assets Investment Management LLC lifted its holdings in shares of New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 888.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,859,106 shares of the company's stock after purchasing an additional 1,671,094 shares during the period. New Fortress Energy accounts for about 1.1% of American Assets Investment Management LLC's portfolio, making the stock its 19th biggest position. American Assets Investment Management LLC owned 0.68% of New Fortress Energy worth $15,449,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NFE. Quarry LP bought a new stake in shares of New Fortress Energy during the 4th quarter valued at about $64,000. US Bancorp DE boosted its position in shares of New Fortress Energy by 81.7% during the 1st quarter. US Bancorp DE now owns 8,534 shares of the company's stock valued at $71,000 after purchasing an additional 3,838 shares in the last quarter. CWM LLC boosted its position in shares of New Fortress Energy by 46.9% during the 1st quarter. CWM LLC now owns 9,065 shares of the company's stock valued at $75,000 after purchasing an additional 2,895 shares in the last quarter. Hardin Capital Partners LLC bought a new stake in shares of New Fortress Energy during the 1st quarter valued at about $83,000. Finally, Forum Financial Management LP bought a new stake in shares of New Fortress Energy during the 1st quarter valued at about $87,000. Institutional investors own 58.61% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NFE shares. Morgan Stanley set a $4.00 target price on New Fortress Energy and gave the company an "equal weight" rating in a research report on Tuesday, May 27th. Citigroup cut their price target on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Stifel Nicolaus cut their price target 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. BTIG Research lowered New Fortress Energy from a "buy" rating to a "neutral" rating in a report on Thursday, June 26th. Finally, New Street Research set a $8.50 price target on New Fortress Energy in a report on Monday, June 30th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, New Fortress Energy currently has a consensus rating of "Hold" and a consensus target price of $9.75.

New Fortress Energy Stock Performance

Shares of New Fortress Energy stock opened at $2.99 on Tuesday. The company has a market cap of $819.86 million, a PE ratio of -1.33 and a beta of 1.08. New Fortress Energy LLC has a 52 week low of $2.01 and a 52 week high of $17.21. The business has a 50 day moving average price of $3.20 and a 200-day moving average price of $6.90. 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 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.

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