Golden State Wealth Management LLC Takes $118,000 Position in New Fortress Energy Inc. (NASDAQ:NFE)

Golden State Wealth Management LLC acquired a new position in New Fortress Energy Inc. (NASDAQ:NFE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,800 shares of the company’s stock, valued at approximately $118,000.

Several other institutional investors also recently modified their holdings of the business. Redwood Wealth Management Group LLC bought a new stake in New Fortress Energy in the fourth quarter valued at approximately $749,000. KBC Group NV boosted its stake in shares of New Fortress Energy by 121.1% in the 4th quarter. KBC Group NV now owns 7,596 shares of the company’s stock valued at $115,000 after purchasing an additional 4,160 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in shares of New Fortress Energy during the fourth quarter worth $2,268,000. Exchange Traded Concepts LLC raised its position in shares of New Fortress Energy by 59.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 227,512 shares of the company’s stock worth $3,440,000 after acquiring an additional 85,239 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in New Fortress Energy in the fourth quarter valued at approximately $533,000. Institutional investors own 58.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NFE. Stifel Nicolaus upped their price objective on shares of New Fortress Energy from $16.00 to $17.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.40.

New Fortress Energy Stock Performance

Shares of NFE stock opened at $12.26 on Monday. New Fortress Energy Inc. has a one year low of $7.82 and a one year high of $35.58. The company has a market cap of $3.08 billion, a P/E ratio of 13.47 and a beta of 1.49. The firm has a 50-day moving average of $14.03 and a 200-day moving average of $12.24. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35.

New Fortress Energy Company 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.