Redwood Wealth Management Group LLC Takes Position in New Fortress Energy Inc. (NASDAQ:NFE)

Redwood Wealth Management Group LLC bought a new stake in New Fortress Energy Inc. (NASDAQ:NFE) during the 4th quarter, HoldingsChannel reports. The fund bought 49,750 shares of the company’s stock, valued at approximately $749,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. nVerses Capital LLC purchased a new stake in shares of New Fortress Energy in the third quarter valued at $25,000. KBC Group NV increased its stake in New Fortress Energy by 116.9% in the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after buying an additional 1,852 shares during the period. US Bancorp DE increased its stake in New Fortress Energy by 344.6% in the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company’s stock worth $32,000 after buying an additional 2,767 shares during the period. GAMMA Investing LLC increased its stake 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 increased 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 worth $37,000 after buying an additional 3,314 shares during the period. Hedge funds and other institutional investors own 58.61% of the company’s stock.

New Fortress Energy Stock Down 5.7 %

Shares of New Fortress Energy stock opened at $14.03 on Wednesday. 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 1 year low of $7.82 and a 1 year high of $35.58. The firm’s 50-day moving average is $13.89 and its two-hundred day moving average is $12.45. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 15.42 and a beta of 1.49.

Wall Street Analysts Forecast Growth

NFE has been the topic of several recent analyst reports. Stifel Nicolaus raised their price target on shares of New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target on the stock in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.