Redwood Wealth Management Group LLC Purchases Shares of 49,750 New Fortress Energy Inc. (NASDAQ:NFE)

Redwood Wealth Management Group LLC acquired a new position in New Fortress Energy Inc. (NASDAQ:NFE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 49,750 shares of the company's stock, valued at approximately $749,000.

Other hedge funds have also recently bought and sold shares of the company. nVerses Capital LLC bought a new stake in shares of New Fortress Energy during 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 grew its holdings in New Fortress Energy by 344.6% during the third quarter. US Bancorp DE now owns 3,570 shares of the company's stock valued at $32,000 after purchasing an additional 2,767 shares during 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, GAMMA Investing LLC raised its position in shares of New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock valued at $60,000 after purchasing an additional 2,370 shares during the period. 58.61% of the stock is owned by institutional investors and hedge funds.

New Fortress Energy Stock Performance

New Fortress Energy stock traded down $0.31 during mid-day trading on Friday, reaching $12.26. The company had a trading volume of 6,446,237 shares, compared to its average volume of 3,490,793. The company has a 50 day moving average of $14.03 and a 200-day moving average of $12.37. New Fortress Energy Inc. has a 52 week low of $7.82 and a 52 week high of $35.58. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 13.47 and a beta of 1.49.

Wall Street Analyst Weigh In

NFE has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of New Fortress Energy from a "sell" rating to a "hold" rating and set a $11.00 target price on the stock in a research note on Wednesday, December 4th. Stifel Nicolaus raised their price target on New Fortress Energy from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average 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.