New Fortress Energy LLC (NASDAQ:NFE) Shares Acquired by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in New Fortress Energy by 88%, acquiring a total of 245,565 shares valued at approximately $2.04 million.
• New Fortress Energy's stock has declined by 11.1%, currently trading at $2.72, with a 12-month range between $2.01 and $16.66.
• Analyst ratings for the stock are mixed, with a consensus of "Moderate Buy" and an average price target of $8.43.

Cetera Investment Advisers lifted its stake in shares of New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 88.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 245,565 shares of the company's stock after acquiring an additional 114,915 shares during the period. Cetera Investment Advisers owned 0.09% of New Fortress Energy worth $2,041,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of NFE. Quarry LP acquired a new position in New Fortress Energy in the fourth quarter valued at about $64,000. CWM LLC lifted its position in New Fortress Energy by 46.9% in the first quarter. CWM LLC now owns 9,065 shares of the company's stock valued at $75,000 after buying an additional 2,895 shares during the last quarter. Hardin Capital Partners LLC acquired a new position in New Fortress Energy in the first quarter valued at about $83,000. Forum Financial Management LP acquired a new position in New Fortress Energy in the first quarter valued at about $87,000. Finally, Ancora Advisors LLC acquired a new position in New Fortress Energy in the fourth quarter valued at about $91,000. Hedge funds and other institutional investors own 58.61% of the company's stock.

New Fortress Energy Stock Down 10.5%

Shares of New Fortress Energy stock traded down $0.28 on Tuesday, reaching $2.35. 4,139,050 shares of the company were exchanged, compared to its average volume of 9,142,488. New Fortress Energy LLC has a 1-year low of $2.01 and a 1-year high of $16.66. The company has a market cap of $643.00 million, a P/E ratio of -1.04 and a beta of 1.08. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.00 and a quick ratio of 0.95. The stock's 50 day moving average price is $3.23 and its 200-day moving average price is $6.45.

Analyst Upgrades and Downgrades

A number of research firms have commented on NFE. New Street Research set a $8.50 target price on shares of New Fortress Energy in a research report on Monday, June 30th. Morgan Stanley set a $4.00 price target on shares of New Fortress Energy and gave the stock an "equal weight" rating in a research note on Tuesday, May 27th. Stifel Nicolaus cut their price target on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. BTIG Research lowered shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a research note on Thursday, June 26th. Finally, Compass Point initiated coverage on shares of New Fortress Energy in a research note on Tuesday, July 1st. They set a "buy" rating and a $8.50 price target on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, New Fortress Energy has an average rating of "Moderate Buy" and a consensus price target of $8.43.

New Fortress Energy 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.