Y Intercept Hong Kong Ltd Buys New Position in New Fortress Energy Inc. (NASDAQ:NFE)

Y Intercept Hong Kong Ltd bought a new stake in shares of New Fortress Energy Inc. (NASDAQ:NFE) during the 4th quarter, Holdings Channel reports. The institutional investor bought 82,830 shares of the company’s stock, valued at approximately $1,252,000.

Other hedge funds also recently added to or reduced their stakes in the company. KBC Group NV increased its holdings in shares of 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 purchasing an additional 1,852 shares during the period. US Bancorp DE increased its holdings in shares of 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 purchasing an additional 2,767 shares during the period. Allworth Financial LP increased its holdings in shares of New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after purchasing an additional 1,962 shares during the period. Signaturefd LLC increased its holdings in shares of New Fortress Energy by 409.1% in the third quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock valued at $37,000 after purchasing an additional 3,314 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $60,000 after purchasing an additional 2,370 shares during the period. 58.61% of the stock is owned by institutional investors and hedge funds.

New Fortress Energy Stock Down 3.0 %

Shares of NFE opened at $10.18 on Thursday. New Fortress Energy Inc. has a 52 week low of $7.82 and a 52 week high of $35.58. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 11.19 and a beta of 1.49. The stock’s 50-day moving average price is $13.95 and its 200-day moving average price is $11.74.

Analyst Upgrades and Downgrades

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

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.