JPMorgan Chase & Co. Sells 153,682 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

JPMorgan Chase & Co. lessened its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 76.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,315 shares of the company’s stock after selling 153,682 shares during the quarter. JPMorgan Chase & Co.’s holdings in New Fortress Energy were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP lifted its position in New Fortress Energy by 125.7% during the 2nd quarter. Quarry LP now owns 2,250 shares of the company’s stock valued at $49,000 after purchasing an additional 1,253 shares during the period. nVerses Capital LLC bought a new stake in shares of New Fortress Energy during the 3rd quarter valued at $25,000. KBC Group NV lifted its stake in shares of New Fortress Energy by 116.9% in the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after purchasing an additional 1,852 shares during the period. US Bancorp DE grew its stake 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 purchasing an additional 2,767 shares during the period. Finally, Signaturefd LLC grew its stake 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 purchasing an additional 3,314 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NFE shares. Stifel Nicolaus boosted their target price on New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Morgan Stanley lowered New Fortress Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $35.00 to $15.00 in a report on Thursday, October 3rd. Finally, 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 report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.40.

New Fortress Energy Stock Up 1.3 %

NFE opened at $15.07 on Thursday. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The stock’s fifty day simple moving average is $13.48 and its 200 day simple moving average is $12.77. New Fortress Energy Inc. has a 1-year low of $7.82 and a 1-year high of $35.58. The stock has a market cap of $3.79 billion, a PE ratio of 16.56 and a beta of 1.50.

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.