King Luther Capital Management Corp reduced its position in New Fortress Energy LLC (NASDAQ:NFE – Free Report) by 51.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,000,000 shares of the company’s stock after selling 1,042,000 shares during the period. King Luther Capital Management Corp owned about 0.35% of New Fortress Energy worth $1,140,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in NFE. Wealth Enhancement Advisory Services LLC purchased a new position in shares of New Fortress Energy in the fourth quarter worth approximately $26,000. Savant Capital LLC purchased a new position in shares of New Fortress Energy in the third quarter worth approximately $28,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of New Fortress Energy in the third quarter worth approximately $29,000. one8zero8 LLC purchased a new position in shares of New Fortress Energy in the third quarter worth approximately $31,000. Finally, Ballentine Partners LLC purchased a new position in shares of New Fortress Energy in the fourth quarter worth approximately $33,000. 58.61% of the stock is owned by hedge funds and other institutional investors.
New Fortress Energy Stock Performance
Shares of NFE opened at $0.56 on Friday. The company’s 50 day moving average price is $0.66 and its 200 day moving average price is $1.04. New Fortress Energy LLC has a 52 week low of $0.55 and a 52 week high of $4.96. The company has a market capitalization of $160.18 million, a PE ratio of -0.25 and a beta of 1.34. The company has a debt-to-equity ratio of 3.57, a quick ratio of 0.11 and a current ratio of 0.13.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen downgraded shares of New Fortress Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, New Fortress Energy presently has a consensus rating of “Reduce” and an average price target of $7.00.
Get Our Latest Report on New Fortress Energy
New Fortress Energy Profile
New Fortress Energy is an integrated global energy infrastructure company focused on the development, construction and operation of natural gas-to-power projects and liquefied natural gas (LNG) terminals. The company sources LNG and delivers it via a network of floating storage and regasification units (FSRUs), onshore regasification terminals, and small-scale LNG carriers. By providing reliable natural gas supply solutions, New Fortress Energy aims to displace higher-carbon fuels in power generation, industrial and marine sectors.
The company’s core activities include the design, development and operation of FSRUs and onshore regasification terminals that convert cryogenic LNG back to gas for delivery into domestic transmission networks.
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