PDT Partners LLC Purchases Shares of 161,199 New Fortress Energy LLC $NFE

Key Points

• PDT Partners LLC has acquired a new stake in New Fortress Energy, purchasing 161,199 shares valued at approximately $1.34 million, making up 0.06% of the company.
• Institutional ownership of New Fortress Energy has reached 58.61%, with other investors such as US Bancorp DE and CWM LLC significantly increasing their holdings in the first quarter.
• Current stock performance shows New Fortress Energy trading at $2.35, with a 12-month low of $2.01 and high of $16.66, reflecting volatility in its stock price.

PDT Partners LLC bought a new position in New Fortress Energy LLC (NASDAQ:NFE - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 161,199 shares of the company's stock, valued at approximately $1,340,000. PDT Partners LLC owned 0.06% of New Fortress Energy as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of NFE. Vanguard Group Inc. lifted its stake in shares of New Fortress Energy by 22.6% during the 1st quarter. Vanguard Group Inc. now owns 13,879,490 shares of the company's stock worth $115,339,000 after acquiring an additional 2,560,242 shares during the last quarter. American Assets Investment Management LLC lifted its stake in shares of New Fortress Energy by 888.8% during the 1st quarter. American Assets Investment Management LLC now owns 1,859,106 shares of the company's stock worth $15,449,000 after acquiring an additional 1,671,094 shares during the last quarter. Jump Financial LLC bought a new stake in shares of New Fortress Energy during the 1st quarter worth approximately $9,492,000. Shay Capital LLC bought a new stake in shares of New Fortress Energy during the 4th quarter worth approximately $16,866,000. Finally, Schonfeld Strategic Advisors LLC lifted its stake in shares of New Fortress Energy by 101.3% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 11,151 shares of the company's stock worth $169,000 after acquiring an additional 857,711 shares during the last quarter. 58.61% of the stock is owned by institutional investors.

New Fortress Energy Stock Up 4.3%

NFE stock traded up $0.10 on Friday, hitting $2.45. 4,256,056 shares of the company's stock were exchanged, compared to its average volume of 6,331,474. New Fortress Energy LLC has a 12-month low of $2.01 and a 12-month high of $16.66. The firm has a 50 day moving average price of $3.16 and a two-hundred day moving average price of $5.06. 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 stock has a market cap of $671.79 million, a P/E ratio of -1.09 and a beta of 0.99.

Wall Street Analyst Weigh In

NFE has been the subject of a number of research analyst reports. Compass Point initiated coverage on New Fortress Energy in a research note on Tuesday, July 1st. They set a "buy" rating and a $8.50 price target for the company. Morgan Stanley set a $4.00 price target on New Fortress Energy and gave the stock an "equal weight" rating in a research note on Tuesday, May 27th. BTIG Research lowered New Fortress Energy from a "buy" rating to a "neutral" rating in a research report on Thursday, June 26th. New Street Research set a $8.50 target price on New Fortress Energy in a research report on Monday, June 30th. Finally, Zacks Research raised New Fortress Energy to a "hold" rating in a research report on Monday, August 11th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $7.88.

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.