Tejara Capital Ltd Makes New Investment in 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 position in shares of New Fortress Energy LLC (NASDAQ:NFE - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 520,600 shares of the company's stock, valued at approximately $4,326,000. New Fortress Energy makes up 1.7% of Tejara Capital Ltd's holdings, making the stock its 15th biggest position. Tejara Capital Ltd owned 0.19% of New Fortress Energy as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its holdings in New Fortress Energy by 9.6% during the 1st quarter. Russell Investments Group Ltd. now owns 44,729 shares of the company's stock worth $372,000 after buying an additional 3,915 shares in the last quarter. Nuveen LLC acquired a new stake in New Fortress Energy during the 1st quarter worth approximately $2,692,000. King Luther Capital Management Corp lifted its holdings in New Fortress Energy by 2.1% during the 1st quarter. King Luther Capital Management Corp now owns 1,021,000 shares of the company's stock worth $8,485,000 after buying an additional 21,000 shares in the last quarter. Invesco Ltd. lifted its holdings in New Fortress Energy by 5.5% during the 1st quarter. Invesco Ltd. now owns 3,465,478 shares of the company's stock worth $28,798,000 after buying an additional 180,824 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in New Fortress Energy by 5.1% during the 1st quarter. Swiss National Bank now owns 208,300 shares of the company's stock worth $1,731,000 after buying an additional 10,100 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

New Fortress Energy Stock Down 2.8%

Shares of NASDAQ NFE traded down $0.0650 during mid-day trading on Wednesday, reaching $2.2250. The company had a trading volume of 1,584,237 shares, compared to its average volume of 9,065,660. The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of 4.77. The firm has a 50 day simple moving average of $3.16 and a two-hundred day simple moving average of $5.98. The stock has a market cap of $610.09 million, a P/E ratio of -0.99 and a beta of 1.08. New Fortress Energy LLC has a 52-week low of $2.01 and a 52-week high of $16.66.

Analyst Ratings Changes

A number of brokerages have commented on NFE. Johnson Rice downgraded shares of New Fortress Energy from a "buy" rating to a "hold" rating and dropped their price objective for the company from $7.00 to $4.00 in a research report on Wednesday, August 13th. Compass Point began coverage on shares of New Fortress Energy in a research report on Tuesday, July 1st. They issued 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 company an "equal weight" rating in a research report on Tuesday, May 27th. BTIG Research downgraded shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a research report on Thursday, June 26th. Finally, New Street Research set a $8.50 price objective on shares of New Fortress Energy in a research report on Monday, June 30th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $7.88.

About New Fortress Energy

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.