JPMorgan Chase & Co. Has $430,000 Stock Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

JPMorgan Chase & Co. lowered its position in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 76.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,315 shares of the company’s stock after selling 153,682 shares during the quarter. JPMorgan Chase & Co.’s holdings in New Fortress Energy were worth $430,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP raised its stake in New Fortress Energy by 125.7% in the 2nd quarter. Quarry LP now owns 2,250 shares of the company’s stock worth $49,000 after purchasing an additional 1,253 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of New Fortress Energy in the third quarter valued at approximately $25,000. KBC Group NV increased its stake in New Fortress Energy by 116.9% during the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after acquiring an additional 1,852 shares during the period. US Bancorp DE raised its holdings in New Fortress Energy by 344.6% in the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after acquiring an additional 2,767 shares in the last quarter. Finally, Signaturefd LLC raised its holdings 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 acquiring an additional 3,314 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

New Fortress Energy Stock Up 1.3 %

Shares of NFE opened at $15.07 on Thursday. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 16.56 and a beta of 1.50. New Fortress Energy Inc. has a 52 week low of $7.82 and a 52 week high of $35.58. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The stock has a fifty day moving average of $13.48 and a 200-day moving average of $12.77.

Wall Street Analysts Forecast Growth

NFE has been the subject of several recent analyst reports. Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $35.00 to $15.00 in a research report on Thursday, October 3rd. Stifel Nicolaus boosted their price objective on shares of New Fortress Energy from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Finally, 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 research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.