Golden State Wealth Management LLC Purchases New Stake 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, HoldingsChannel reports. The fund acquired 7,800 shares of the company’s stock, valued at approximately $118,000.

Other institutional investors have also bought and sold shares of the company. nVerses Capital LLC purchased a new stake in New Fortress Energy during the third quarter valued at about $25,000. KBC Group NV raised its position 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 lifted its stake in shares of New Fortress Energy by 344.6% during the 3rd 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 in the last quarter. GAMMA Investing LLC boosted its holdings in New Fortress Energy by 148.5% in the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after buying an additional 2,370 shares during the period. Finally, Signaturefd LLC grew its stake in New Fortress Energy by 409.1% in the 3rd quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock valued at $37,000 after buying an additional 3,314 shares in the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

Wall Street Analysts Forecast Growth

NFE has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price on the stock in a research report on Wednesday, December 4th. Stifel Nicolaus increased their price objective on New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.40.

New Fortress Energy Stock Down 2.5 %

Shares of NASDAQ:NFE opened at $12.26 on Monday. The firm has a fifty day moving average price of $14.03 and a two-hundred day moving average price of $12.24. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 13.47 and a beta of 1.49. 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 Inc. has a one year low of $7.82 and a one year high of $35.58.

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.