Kailix Advisors LLC lifted its stake in New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 28.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,908,791 shares of the company's stock after purchasing an additional 428,470 shares during the period. New Fortress Energy accounts for 17.8% of Kailix Advisors LLC's portfolio, making the stock its 2nd largest position. Kailix Advisors LLC owned 0.70% of New Fortress Energy worth $15,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also modified their holdings of NFE. Hood River Capital Management LLC bought a new position in shares of New Fortress Energy during the fourth quarter worth $155,023,000. Capital World Investors lifted its position in New Fortress Energy by 87.9% in the 4th quarter. Capital World Investors now owns 19,925,022 shares of the company's stock valued at $301,266,000 after acquiring an additional 9,319,985 shares in the last quarter. Vanguard Group Inc. lifted its position in New Fortress Energy by 31.8% in the 4th quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company's stock valued at $171,147,000 after acquiring an additional 2,728,191 shares in the last quarter. Brandywine Global Investment Management LLC bought a new stake in New Fortress Energy in the 4th quarter valued at $19,618,000. Finally, Voya Investment Management LLC lifted its position in New Fortress Energy by 6,417.1% in the 4th quarter. Voya Investment Management LLC now owns 1,307,455 shares of the company's stock valued at $19,769,000 after acquiring an additional 1,287,393 shares in the last quarter. Institutional investors and hedge funds own 58.61% of the company's stock.
New Fortress Energy Price Performance
Shares of NASDAQ:NFE opened at $4.57 on Friday. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -2.03 and a beta of 1.30. 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 firm has a 50 day simple moving average of $3.29 and a 200 day simple moving average of $7.84. New Fortress Energy LLC has a one year low of $2.01 and a one year high of $26.22.
Analyst Ratings Changes
NFE has been the topic of several recent analyst reports. Stifel Nicolaus lowered their price objective 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. 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 objective on the stock. Morgan Stanley set a $4.00 price objective on shares of New Fortress Energy and gave the stock an "equal weight" rating in a research note on Tuesday, May 27th. New Street Research set a $8.50 price objective on shares of New Fortress Energy in a research note on Monday, June 30th. Finally, BTIG Research lowered shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a research note on Thursday, June 26th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $9.75.
Check Out Our Latest Report on New Fortress Energy
About New Fortress Energy
(
Free Report)
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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