American Assets Investment Management LLC Acquires 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 by 888.8% in Q1, acquiring over 1.6 million shares.
• New Fortress Energy's stock has performed poorly, with a 10.7% drop recently, and it is currently priced at $3.02 compared to a 52-week high of $20.05.
• Analyst ratings for New Fortress Energy are mixed, with an average rating of "Hold" and target prices ranging widely, reflecting uncertainty in its future performance.

American Assets Investment Management LLC increased its holdings in shares of New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 888.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 6.5% of American Assets Investment Management LLC's holdings, making the stock its 4th biggest holding. American Assets Investment Management LLC owned approximately 0.68% of New Fortress Energy worth $15,449,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NFE. Quarry LP acquired a new stake in shares of New Fortress Energy in the 4th quarter valued at about $64,000. CWM LLC grew its position in New Fortress Energy by 46.9% in the 1st quarter. CWM LLC now owns 9,065 shares of the company's stock worth $75,000 after purchasing an additional 2,895 shares during the last quarter. Hardin Capital Partners LLC bought a new position in New Fortress Energy in the 1st quarter worth about $83,000. Forum Financial Management LP bought a new position in New Fortress Energy in the 1st quarter worth about $87,000. Finally, Ancora Advisors LLC bought a new position in New Fortress Energy in the 4th quarter worth about $91,000. 58.61% of the stock is owned by hedge funds and other institutional investors.

New Fortress Energy Trading Up 6.0%

Shares of NASDAQ:NFE traded up $0.17 during mid-day trading on Monday, hitting $2.99. The stock had a trading volume of 5,459,051 shares, compared to its average volume of 9,170,310. The company has a debt-to-equity ratio of 4.77, a quick ratio of 0.95 and a current ratio of 1.00. The company has a market cap of $819.85 million, a PE ratio of -1.33 and a beta of 1.08. New Fortress Energy LLC has a 12-month low of $2.01 and a 12-month high of $17.21. The company's 50 day moving average is $3.20 and its 200-day moving average is $7.05.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Compass Point initiated coverage on shares of New Fortress Energy in a research report on Tuesday, July 1st. They issued a "buy" rating and a $8.50 target price for the company. Morgan Stanley set a $4.00 price objective on shares of New Fortress Energy and gave the company an "equal weight" rating in a report on Tuesday, May 27th. BTIG Research cut shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a report on Thursday, June 26th. New Street Research set a $8.50 price objective on shares of New Fortress Energy in a report on Monday, June 30th. Finally, Stifel Nicolaus decreased their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. 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, New Fortress Energy presently has an average rating of "Hold" and a consensus target price of $9.75.

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.