Redwood Wealth Management Group LLC Buys New Position in New Fortress Energy Inc. (NASDAQ:NFE)

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

Other hedge funds have also modified their holdings of the company. nVerses Capital LLC bought a new position in shares of New Fortress Energy in the third quarter worth approximately $25,000. KBC Group NV boosted its position in shares of 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 acquiring an additional 1,852 shares during the last quarter. US Bancorp DE boosted its position in shares of New Fortress Energy by 344.6% during the third quarter. US Bancorp DE now owns 3,570 shares of the company’s stock worth $32,000 after acquiring an additional 2,767 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of New Fortress Energy by 148.5% during the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after acquiring an additional 2,370 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of New Fortress Energy by 409.1% during the third quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock worth $37,000 after acquiring an additional 3,314 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages 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 target price for the company in a research report on Wednesday, December 4th. Stifel Nicolaus upped their target price on shares of New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, New Fortress Energy presently has a consensus rating of “Hold” and a consensus price target of $15.40.

New Fortress Energy Price Performance

New Fortress Energy stock opened at $14.03 on Wednesday. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 15.42 and a beta of 1.49. The firm’s fifty day moving average is $13.89 and its 200 day moving average is $12.45. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. New Fortress Energy Inc. has a 52-week low of $7.82 and a 52-week high of $35.58.

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.