Fmr LLC Sells 211,593 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

FMR LLC lowered its holdings in New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 89.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,488 shares of the company's stock after selling 211,593 shares during the quarter. FMR LLC's holdings in New Fortress Energy were worth $232,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. 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 lifted its position in New Fortress Energy by 116.9% during the 3rd quarter. KBC Group NV now owns 3,436 shares of the company's stock valued at $31,000 after purchasing an additional 1,852 shares during the period. US Bancorp DE boosted its stake in shares of 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 purchasing an additional 2,767 shares during the last quarter. Signaturefd LLC grew its position in shares of New Fortress Energy by 409.1% during 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. Finally, Quarry LP raised its stake in shares of New Fortress Energy by 125.7% during the second quarter. Quarry LP now owns 2,250 shares of the company's stock worth $49,000 after buying an additional 1,253 shares during the last quarter. Institutional investors own 58.61% of the company's stock.

New Fortress Energy Trading Up 5.4 %

Shares of NFE stock traded up $0.61 on Friday, hitting $11.96. The stock had a trading volume of 5,776,770 shares, compared to its average volume of 3,219,267. 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 Inc. has a twelve month low of $7.82 and a twelve month high of $39.26. The company has a fifty day moving average price of $10.03 and a two-hundred day moving average price of $13.92. The firm has a market cap of $3.01 billion, a P/E ratio of 13.14 and a beta of 1.60.

Insiders Place Their Bets

In related news, CEO Wesley R. Edens bought 5,793,742 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were purchased at an average cost of $8.63 per share, for a total transaction of $49,999,993.46. Following the acquisition, the chief executive officer now owns 35,721,915 shares of the company's stock, valued at approximately $308,280,126.45. This represents a 19.36 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 37.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NFE. Deutsche Bank Aktiengesellschaft raised shares of 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. Morgan Stanley lowered New Fortress Energy from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $35.00 to $15.00 in a research report on Thursday, October 3rd. Finally, BTIG Research dropped their price objective on New Fortress Energy from $35.00 to $15.00 and set a "buy" rating for the company in a report on Friday, September 13th. Three 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 company presently has a consensus rating of "Hold" and a consensus price target of $15.40.

New Fortress Energy 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.