New Fortress Energy (NASDAQ:NFE - Free Report) had its price objective raised by Stifel Nicolaus from $16.00 to $17.00 in a report published on Monday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.
Several other research analysts have also commented 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 for the company in a research note on Wednesday, December 4th. Morgan Stanley lowered New Fortress Energy from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $35.00 to $15.00 in a report on Thursday, October 3rd. Finally, BTIG Research reduced their price target on New Fortress Energy from $35.00 to $15.00 and set a "buy" rating on the stock in a research report on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $15.40.
Check Out Our Latest Report on NFE
New Fortress Energy Trading Up 21.7 %
Shares of New Fortress Energy stock traded up $2.60 during trading hours on Monday, hitting $14.56. The company's stock had a trading volume of 10,655,104 shares, compared to its average volume of 3,250,271. The firm has a fifty day moving average of $10.13 and a 200-day moving average of $13.86. New Fortress Energy has a twelve month low of $7.82 and a twelve month high of $39.26. 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 market cap of $3.66 billion, a price-to-earnings ratio of 16.00 and a beta of 1.60.
Insider Activity at New Fortress Energy
In related news, CEO Wesley R. Edens purchased 5,793,742 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were bought at an average cost of $8.63 per share, for a total transaction of $49,999,993.46. Following the completion of the purchase, 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 37.10% of the stock is currently owned by corporate insiders.
Institutional Trading of New Fortress Energy
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. nVerses Capital LLC acquired a new position in shares of New Fortress Energy in the 3rd quarter valued at $25,000. KBC Group NV increased its stake in New Fortress Energy by 116.9% in the third 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 increased its stake in New Fortress Energy by 344.6% in 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 period. Signaturefd LLC raised its holdings in shares of New Fortress Energy by 409.1% in the third quarter. Signaturefd LLC now owns 4,124 shares of the company's stock valued at $37,000 after buying an additional 3,314 shares during the last quarter. Finally, Quarry LP boosted 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 period. Institutional investors and hedge funds own 58.61% of the company's stock.
New Fortress Energy Company Profile
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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.
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