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New York State Common Retirement Fund Raises Stock Holdings in New Fortress Energy LLC (NASDAQ:NFE)

New Fortress Energy logo with Energy background

New York State Common Retirement Fund boosted its position in shares of New Fortress Energy LLC (NASDAQ:NFE - Free Report) by 201.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 221,051 shares of the company's stock after buying an additional 147,800 shares during the quarter. New York State Common Retirement Fund owned approximately 0.08% of New Fortress Energy worth $1,837,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NFE. Quarry LP purchased a new stake in New Fortress Energy during the 4th quarter worth approximately $64,000. Ancora Advisors LLC acquired a new stake in shares of New Fortress Energy in the fourth quarter worth approximately $91,000. Hardin Capital Partners LLC acquired a new stake in shares of New Fortress Energy in the first quarter worth approximately $83,000. Envestnet Asset Management Inc. acquired a new stake in shares of New Fortress Energy in the fourth quarter worth approximately $155,000. Finally, Schonfeld Strategic Advisors LLC raised its holdings in New Fortress Energy by 101.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 11,151 shares of the company's stock valued at $169,000 after buying an additional 857,711 shares during the period. Institutional investors and hedge funds own 58.61% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Citigroup cut their price target on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Compass Point began coverage on New Fortress Energy in a research report on Tuesday, July 1st. They issued a "buy" rating and a $8.50 price objective for the company. Morgan Stanley set a $4.00 price objective on New Fortress Energy and gave the stock an "equal weight" rating in a research report on Tuesday, May 27th. New Street Research set a $8.50 price objective on New Fortress Energy in a report on Monday, June 30th. Finally, BTIG Research cut New Fortress Energy from a "buy" rating to a "neutral" rating in a research note on Thursday, June 26th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, New Fortress Energy has a consensus rating of "Hold" and an average target price of $9.75.

View Our Latest Stock Analysis on New Fortress Energy

New Fortress Energy Stock Down 8.7%

New Fortress Energy stock traded down $0.36 during mid-day trading on Friday, reaching $3.78. The stock had a trading volume of 9,345,685 shares, compared to its average volume of 12,822,818. The company has a debt-to-equity ratio of 4.77, a quick ratio of 0.95 and a current ratio of 1.00. New Fortress Energy LLC has a fifty-two week low of $2.01 and a fifty-two week high of $20.28. The stock's 50-day simple moving average is $3.17 and its 200-day simple moving average is $7.45. The firm has a market capitalization of $1.04 billion, a PE ratio of -1.68 and a beta of 1.30.

New Fortress Energy Profile

(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.

See Also

Institutional Ownership by Quarter for New Fortress Energy (NASDAQ:NFE)

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