Geode Capital Management LLC Has $9.62 Million Position in New Fortress Energy Inc. (NASDAQ:NFE)

Geode Capital Management LLC cut its holdings in New Fortress Energy Inc. (NASDAQ:NFE) by 13.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,058,402 shares of the company’s stock after selling 164,633 shares during the quarter. Geode Capital Management LLC owned about 0.52% of New Fortress Energy worth $9,624,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NFE. nVerses Capital LLC bought a new position in shares of New Fortress Energy in the 3rd quarter worth $25,000. KBC Group NV lifted its stake in New Fortress Energy by 116.9% in the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after buying an additional 1,852 shares during the period. US Bancorp DE lifted its stake in New Fortress Energy by 344.6% in the third quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after buying an additional 2,767 shares during the period. Signaturefd LLC boosted its holdings in 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 buying an additional 3,314 shares during the last quarter. Finally, Quarry LP grew its position 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 worth $49,000 after buying an additional 1,253 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.

Wall Street Analysts Forecast Growth

NFE has been the topic of a number of analyst reports. Stifel Nicolaus increased their price target on shares of New Fortress Energy from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. 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 report on Wednesday, December 4th. Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $35.00 to $15.00 in a research report on Thursday, October 3rd. Finally, BTIG Research dropped their price objective on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, New Fortress Energy has a consensus rating of “Hold” and a consensus price target of $15.40.

New Fortress Energy Stock Performance

Shares of NFE opened at $15.12 on Thursday. The firm has a market cap of $3.80 billion, a P/E ratio of 16.62 and a beta of 1.60. New Fortress Energy Inc. has a twelve month low of $7.82 and a twelve month high of $38.29. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The firm’s 50 day moving average price is $10.94 and its two-hundred day moving average price is $13.54.

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.