New Fortress Energy Inc. (NASDAQ:NFE) Given Average Rating of “Hold” by Analysts

Shares of New Fortress Energy Inc. (NASDAQ:NFE) have earned an average rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $19.77.

A number of equities research analysts have recently issued reports on the stock. BTIG Research reduced their price target on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Deutsche Bank Aktiengesellschaft restated a “sell” rating and set a $7.60 price target (down from $21.00) on shares of New Fortress Energy in a research note on Tuesday, October 1st. Morgan Stanley downgraded New Fortress Energy from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $35.00 to $15.00 in a report on Thursday, October 3rd. Barclays lowered their target price on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Finally, Stifel Nicolaus reduced their price target on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, August 12th.

Insider Buying and Selling at New Fortress Energy

In other news, CEO Wesley R. Edens bought 5,793,742 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were acquired at an average price of $8.63 per share, for a total transaction of $49,999,993.46. Following the completion of the transaction, the chief executive officer now owns 35,721,915 shares of the company’s stock, valued at approximately $308,280,126.45. This trade represents a 19.36 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 37.10% of the stock is owned by insiders.

Institutional Trading of New Fortress Energy

Large investors have recently bought and sold shares of the business. X Square Capital LLC increased its position in New Fortress Energy by 0.6% during the 2nd quarter. X Square Capital LLC now owns 137,396 shares of the company’s stock worth $3,020,000 after purchasing an additional 781 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of New Fortress Energy by 4.8% during the second quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company’s stock worth $477,000 after purchasing an additional 999 shares during the last quarter. Tidal Investments LLC grew its position in shares of New Fortress Energy by 10.9% in the first quarter. Tidal Investments LLC now owns 10,297 shares of the company’s stock valued at $315,000 after purchasing an additional 1,009 shares during the period. The Manufacturers Life Insurance Company boosted its stake in New Fortress Energy by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,784 shares of the company’s stock worth $479,000 after buying an additional 1,024 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in New Fortress Energy by 7.7% in the 2nd quarter. Victory Capital Management Inc. now owns 14,933 shares of the company’s stock valued at $328,000 after buying an additional 1,062 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Stock Performance

NASDAQ:NFE opened at $10.04 on Wednesday. The company has a market cap of $2.52 billion, a P/E ratio of 11.03 and a beta of 1.53. New Fortress Energy has a twelve month low of $7.82 and a twelve month high of $40.04. The company’s 50-day moving average price is $9.25 and its 200-day moving average price is $15.81. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06.

New Fortress Energy Company Profile

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.