Zurcher Kantonalbank Zurich Cantonalbank Buys 5,643 Shares of New Fortress Energy LLC (NASDAQ:NFE)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of New Fortress Energy LLC (NASDAQ:NFE) by 36.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,310 shares of the company’s stock after acquiring an additional 5,643 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in New Fortress Energy were worth $177,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NFE. Quarry LP acquired a new stake in shares of New Fortress Energy in the 4th quarter valued at $64,000. CWM LLC boosted its holdings in shares of New Fortress Energy by 46.9% in the 1st quarter. CWM LLC now owns 9,065 shares of the company’s stock valued at $75,000 after purchasing an additional 2,895 shares in the last quarter. Hardin Capital Partners LLC acquired a new stake in shares of New Fortress Energy in the 1st quarter valued at $83,000. Forum Financial Management LP acquired a new stake in shares of New Fortress Energy during the 1st quarter valued at $87,000. Finally, Ancora Advisors LLC acquired a new stake in shares of New Fortress Energy during the 4th quarter valued at $91,000. Institutional investors own 58.61% of the company’s stock.

Analysts Set New Price Targets

NFE has been the topic of several recent research reports. Compass Point initiated coverage on New Fortress Energy in a report on Tuesday, July 1st. They set a “buy” rating and a $8.50 price objective on the stock. Morgan Stanley set a $4.00 price objective on New Fortress Energy and gave the company an “equal weight” rating in a report on Tuesday, May 27th. BTIG Research downgraded New Fortress Energy from a “buy” rating to a “neutral” rating in a report on Thursday, June 26th. Stifel Nicolaus cut their price objective on New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, New Street Research set a $8.50 price objective on New Fortress Energy in a report on Monday, June 30th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.43.

New Fortress Energy Stock Down 11.1%

Shares of NFE opened at $2.72 on Monday. The company has a market capitalization of $745.82 million, a PE ratio of -1.21 and a beta of 1.08. New Fortress Energy LLC has a 12 month low of $2.01 and a 12 month high of $16.66. The stock’s 50-day moving average price is $3.23 and its two-hundred day moving average price is $6.54. The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of 4.77.

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.