Exchange Traded Concepts LLC Grows Stock Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

Exchange Traded Concepts LLC increased its stake in New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 59.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 227,512 shares of the company's stock after buying an additional 85,239 shares during the quarter. Exchange Traded Concepts LLC owned 0.09% of New Fortress Energy worth $3,440,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in New Fortress Energy in the 3rd quarter worth about $25,000. KBC Group NV boosted its position in New Fortress Energy by 116.9% during the third quarter. KBC Group NV now owns 3,436 shares of the company's stock worth $31,000 after purchasing an additional 1,852 shares during the period. US Bancorp DE increased its stake in shares of New Fortress Energy by 344.6% in the third quarter. US Bancorp DE now owns 3,570 shares of the company's stock worth $32,000 after purchasing an additional 2,767 shares in the last quarter. Signaturefd LLC raised its position in shares of New Fortress Energy by 409.1% in the third quarter. Signaturefd LLC now owns 4,124 shares of the company's stock valued at $37,000 after purchasing an additional 3,314 shares during the period. Finally, Quarry LP lifted its stake in shares of New Fortress Energy by 125.7% during 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 Price Performance

Shares of NFE traded down $0.56 during mid-day trading on Friday, reaching $15.36. 2,741,193 shares of the stock traded hands, compared to its average volume of 3,880,275. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. New Fortress Energy Inc. has a 1 year low of $7.82 and a 1 year high of $35.58. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 16.88 and a beta of 1.50. The firm has a fifty day moving average price of $13.13 and a 200 day moving average price of $12.84.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NFE. Deutsche Bank Aktiengesellschaft upgraded shares of New Fortress Energy from a "sell" rating to a "hold" rating and set a $11.00 price objective for the company in a research note on Wednesday, December 4th. Morgan Stanley lowered New Fortress Energy from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $35.00 to $15.00 in a research note on Thursday, October 3rd. Finally, Stifel Nicolaus raised their target price 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $15.40.

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.