GSG Advisors LLC Purchases New Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

GSG Advisors LLC acquired a new position in New Fortress Energy Inc. (NASDAQ:NFE) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 40,000 shares of the company’s stock, valued at approximately $605,000.

Other hedge funds also recently modified their holdings of the company. nVerses Capital LLC acquired a new position in New Fortress Energy in the third quarter worth about $25,000. KBC Group NV grew its stake in shares of New Fortress Energy by 116.9% in the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after purchasing an additional 1,852 shares during the period. US Bancorp DE raised its holdings in shares of New Fortress Energy by 344.6% in the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company’s stock worth $32,000 after buying an additional 2,767 shares in the last quarter. Signaturefd LLC lifted its position in shares of New Fortress Energy by 409.1% during the 3rd quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock worth $37,000 after buying an additional 3,314 shares during the period. Finally, Quarry LP boosted its stake in New Fortress Energy by 125.7% in the 2nd quarter. Quarry LP now owns 2,250 shares of the company’s stock valued at $49,000 after buying an additional 1,253 shares in the last quarter. Institutional investors own 58.61% of the company’s stock.

New Fortress Energy Trading Down 1.4 %

NFE opened at $14.29 on Tuesday. New Fortress Energy Inc. has a 1-year low of $7.82 and a 1-year high of $35.71. The stock has a market capitalization of $3.59 billion, a PE ratio of 15.70 and a beta of 1.50. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The firm has a 50-day moving average price of $11.98 and a two-hundred day moving average price of $13.13.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NFE shares. Stifel Nicolaus increased their price objective on New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a report on Wednesday, December 4th. Finally, Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $35.00 to $15.00 in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.40.

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.