Jump Financial LLC Invests $9.49 Million in New Fortress Energy LLC $NFE

Key Points

• Jump Financial LLC has acquired a new stake in New Fortress Energy LLC, purchasing over 1.14 million shares valued at approximately $9.49 million, representing 0.42% ownership.
• Various hedge funds have recently adjusted their positions in New Fortress Energy, with notable increases in ownership by US Bancorp DE and CWM LLC, contributing to institutional investors holding over 58.61% of the stock.
• Analyst ratings for New Fortress Energy show three analysts with a "buy" rating and five with a "hold" rating, with a consensus price target of $7.88.

Jump Financial LLC bought a new stake in New Fortress Energy LLC (NASDAQ:NFE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,142,284 shares of the company's stock, valued at approximately $9,492,000. Jump Financial LLC owned about 0.42% of New Fortress Energy at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. AlphaQuest LLC raised its stake in shares of New Fortress Energy by 15.6% in the first quarter. AlphaQuest LLC now owns 25,185 shares of the company's stock valued at $209,000 after acquiring an additional 3,404 shares during the last quarter. CW Advisors LLC bought a new position in New Fortress Energy in the 1st quarter worth approximately $219,000. Ethos Financial Group LLC bought a new position in New Fortress Energy in the 1st quarter worth approximately $88,000. American Century Companies Inc. raised its position in New Fortress Energy by 620.1% in the 1st quarter. American Century Companies Inc. now owns 539,426 shares of the company's stock worth $4,483,000 after purchasing an additional 464,516 shares during the last quarter. Finally, Tejara Capital Ltd bought a new position in New Fortress Energy in the 1st quarter worth approximately $4,326,000. Institutional investors own 58.61% of the company's stock.

Analyst Ratings Changes

NFE has been the subject of several recent research reports. Johnson Rice cut shares of New Fortress Energy from a "buy" rating to a "hold" rating and dropped their target price for the company from $7.00 to $4.00 in a research report on Wednesday, August 13th. Morgan Stanley set a $4.00 target price on shares of New Fortress Energy and gave the stock an "equal weight" rating in a research note on Tuesday, May 27th. Compass Point assumed coverage on shares of New Fortress Energy in a research note on Tuesday, July 1st. They issued a "buy" rating and a $8.50 target price for the company. New Street Research set a $8.50 target price on shares of New Fortress Energy in a report on Monday, June 30th. Finally, Zacks Research raised shares of New Fortress Energy to a "hold" rating in a report on Monday, August 11th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $7.88.

New Fortress Energy Stock Performance

Shares of NFE traded up $0.03 during mid-day trading on Thursday, hitting $2.63. 5,192,855 shares of the company's stock were exchanged, compared to its average volume of 9,021,646. New Fortress Energy LLC has a 52 week low of $2.01 and a 52 week high of $16.66. The stock's 50-day simple moving average is $3.14 and its 200-day simple moving average is $5.58. The firm has a market cap of $721.15 million, a price-to-earnings ratio of -1.17 and a beta of 1.08. 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.