Tejara Capital Ltd Purchases Shares of 520,600 New Fortress Energy LLC $NFE

Key Points

• Tejara Capital Ltd invested approximately $4.33 million in New Fortress Energy LLC, acquiring 520,600 shares, representing about 1.7% of its investment portfolio.
• Analyst ratings vary, with Johnson Rice downgrading New Fortress Energy from "buy" to "hold" and setting a price target of $4.00, while others like Compass Point project a target of $8.50.
• New Fortress Energy's stock is currently trading at $2.39, and it has a market cap of about $655.34 million, reflecting a significant decline from its one-year high of $16.66.

Tejara Capital Ltd bought a new stake in New Fortress Energy LLC (NASDAQ:NFE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 520,600 shares of the company's stock, valued at approximately $4,326,000. New Fortress Energy comprises 1.7% of Tejara Capital Ltd's investment portfolio, making the stock its 15th biggest position. Tejara Capital Ltd owned 0.19% of New Fortress Energy at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers grew its stake in shares of New Fortress Energy by 552.2% in the 4th quarter. Cetera Investment Advisers now owns 130,650 shares of the company's stock valued at $1,975,000 after purchasing an additional 110,617 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in New Fortress Energy by 32.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,470,832 shares of the company's stock valued at $22,239,000 after buying an additional 359,421 shares during the last quarter. Two Sigma Investments LP grew its position in New Fortress Energy by 186.9% in the 4th quarter. Two Sigma Investments LP now owns 170,852 shares of the company's stock valued at $2,583,000 after buying an additional 111,300 shares during the last quarter. Mork Capital Management LLC purchased a new position in New Fortress Energy in the 4th quarter valued at $1,046,000. Finally, American Assets Investment Management LLC boosted its holdings in shares of New Fortress Energy by 888.8% in the first quarter. American Assets Investment Management LLC now owns 1,859,106 shares of the company's stock valued at $15,449,000 after acquiring an additional 1,671,094 shares in the last quarter. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

New Fortress Energy Price Performance

NFE traded down $0.04 during trading on Wednesday, reaching $2.25. 5,872,405 shares of the stock were exchanged, compared to its average volume of 9,730,518. The business's 50 day moving average price is $3.14 and its two-hundred day moving average price is $5.96. 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 company has a market capitalization of $616.95 million, a price-to-earnings ratio of -1.00 and a beta of 1.08. New Fortress Energy LLC has a 1 year low of $2.01 and a 1 year high of $16.66.

Analysts Set New Price Targets

NFE has been the topic of several analyst reports. Zacks Research raised shares of New Fortress Energy to a "hold" rating in a report on Monday, August 11th. Compass Point started coverage on New Fortress Energy in a report on Tuesday, July 1st. They issued a "buy" rating and a $8.50 price objective on the stock. Johnson Rice lowered New Fortress Energy from a "buy" rating to a "hold" rating and lowered their price objective for the company from $7.00 to $4.00 in a report on Wednesday, August 13th. Morgan Stanley set a $4.00 price target on New Fortress Energy and gave the company an "equal weight" rating in a research note on Tuesday, May 27th. Finally, BTIG Research downgraded New Fortress Energy from a "buy" rating to a "neutral" rating in a research note on Thursday, June 26th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $7.88.

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.