Holocene Advisors LP Acquires 201,649 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

Holocene Advisors LP grew its stake in shares of New Fortress Energy Inc. (NASDAQ:NFE - Free Report) by 107.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 389,698 shares of the company's stock after acquiring an additional 201,649 shares during the quarter. Holocene Advisors LP owned about 0.19% of New Fortress Energy worth $3,542,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NFE. nVerses Capital LLC purchased a new stake in shares of New Fortress Energy during the third quarter valued at $25,000. American National Bank purchased a new stake in shares of New Fortress Energy during the 2nd quarter valued at about $26,000. KBC Group NV grew its stake in shares of New Fortress Energy by 116.9% in the third 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 shares of New Fortress Energy by 344.6% during the third 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. Finally, Signaturefd LLC lifted its position in New Fortress Energy by 409.1% during the third quarter. Signaturefd LLC now owns 4,124 shares of the company's stock valued at $37,000 after purchasing an additional 3,314 shares during the period. 58.61% of the stock is currently owned by institutional investors.

New Fortress Energy Price Performance

Shares of NFE stock traded up $0.45 on Friday, hitting $12.41. 6,685,389 shares of the stock traded hands, compared to its average volume of 3,134,733. The firm has a 50 day simple moving average of $9.36 and a two-hundred day simple moving average of $15.06. New Fortress Energy Inc. has a 52 week low of $7.82 and a 52 week high of $39.26. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 13.14 and a beta of 1.60. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NFE shares. BTIG Research cut their price target on New Fortress Energy from $35.00 to $15.00 and set a "buy" rating for the company in a research note on Friday, September 13th. Morgan Stanley cut shares of New Fortress Energy from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $35.00 to $15.00 in a report on Thursday, October 3rd. Stifel Nicolaus cut their price objective on shares of New Fortress Energy from $40.00 to $17.00 and set a "buy" rating for the company in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a "sell" rating to a "hold" rating and set a $11.00 target price on the stock in a report on Wednesday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $20.33.

Insider Buying and Selling

In related news, CEO Wesley R. Edens acquired 5,793,742 shares of the company's stock in a transaction on Tuesday, October 1st. The stock was acquired at an average price of $8.63 per share, with a total value of $49,999,993.46. Following the acquisition, the chief executive officer now directly 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 filing with the SEC, which is available through this link. 37.10% of the stock is currently owned by company insiders.

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.