40,000 Shares in New Fortress Energy Inc. (NASDAQ:NFE) Purchased by GSG Advisors LLC

GSG Advisors LLC acquired a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 40,000 shares of the company’s stock, valued at approximately $605,000.

A number of other large investors also recently added to or reduced their stakes in the business. Primecap Management Co. CA increased its holdings in New Fortress Energy by 43.7% in the third quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company’s stock valued at $104,827,000 after purchasing an additional 3,505,975 shares during the last quarter. American Assets Capital Advisers LLC grew its position in shares of New Fortress Energy by 105.7% during the 3rd quarter. American Assets Capital Advisers LLC now owns 1,555,767 shares of the company’s stock worth $14,968,000 after buying an additional 799,280 shares during the period. HITE Hedge Asset Management LLC increased its stake in shares of New Fortress Energy by 24.1% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 3,192,129 shares of the company’s stock valued at $70,163,000 after acquiring an additional 619,621 shares during the last quarter. Encompass Capital Advisors LLC raised its position in shares of New Fortress Energy by 9.0% in the 2nd quarter. Encompass Capital Advisors LLC now owns 4,797,308 shares of the company’s stock valued at $105,445,000 after acquiring an additional 395,740 shares during the period. Finally, Holocene Advisors LP boosted its stake in New Fortress Energy by 107.2% during the 3rd quarter. Holocene Advisors LP now owns 389,698 shares of the company’s stock worth $3,542,000 after acquiring an additional 201,649 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NFE shares. Morgan Stanley downgraded shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $35.00 to $15.00 in a research note on Thursday, October 3rd. Stifel Nicolaus raised 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. Finally, Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price 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 MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.40.

New Fortress Energy Trading Down 1.4 %

Shares of NASDAQ:NFE opened at $14.29 on Tuesday. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 15.70 and a beta of 1.50. New Fortress Energy Inc. has a 12 month low of $7.82 and a 12 month high of $35.71. The company’s fifty day simple moving average is $11.98 and its 200 day simple moving average is $13.13. 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 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.