Exchange Traded Concepts LLC Has $2.71 Million Stock Holdings in New Fortress Energy LLC (NASDAQ:NFE)

Exchange Traded Concepts LLC increased its stake in New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 43.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 325,760 shares of the company's stock after acquiring an additional 98,248 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.12% of New Fortress Energy worth $2,707,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allworth Financial LP boosted its position in shares of New Fortress Energy by 2,156.0% in the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company's stock valued at $32,000 after purchasing an additional 1,962 shares during the period. Quarry LP purchased a new stake in New Fortress Energy during the fourth quarter valued at about $64,000. US Bancorp DE boosted its holdings in shares of New Fortress Energy by 31.5% in the fourth quarter. US Bancorp DE now owns 4,696 shares of the company's stock worth $71,000 after buying an additional 1,126 shares during the period. Hardin Capital Partners LLC purchased a new position in shares of New Fortress Energy in the first quarter worth approximately $83,000. Finally, Ancora Advisors LLC purchased a new position in shares of New Fortress Energy in the fourth quarter worth approximately $91,000. 58.61% of the stock is owned by institutional investors and hedge funds.

New Fortress Energy Stock Up 3.5%

Shares of NASDAQ NFE traded up $0.08 during mid-day trading on Friday, reaching $2.23. The company had a trading volume of 18,888,942 shares, compared to its average volume of 6,442,803. The stock has a market capitalization of $609.14 million, a PE ratio of -1.00 and a beta of 1.21. New Fortress Energy LLC has a twelve month low of $2.01 and a twelve month high of $26.22. The company has a debt-to-equity ratio of 4.00, a quick ratio of 0.88 and a current ratio of 0.94. The stock's 50 day moving average is $4.22 and its 200-day moving average is $9.28.

Analyst Ratings Changes

Several brokerages recently commented on NFE. Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a research report on Wednesday, March 12th. BTIG Research set a $8.00 target price on New Fortress Energy and gave the company a "buy" rating in a report on Thursday, May 15th. Morgan Stanley set a $4.00 price target on New Fortress Energy and gave the company an "equal weight" rating in a report on Tuesday, May 27th. Stifel Nicolaus dropped their price target on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Citigroup decreased their price objective on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, New Fortress Energy currently has an average rating of "Moderate Buy" and an average target price of $10.17.

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.