New Fortress Energy Inc. (NASDAQ:NFE) Receives Consensus Rating of “Hold” from Analysts

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

NFE has been the topic of a number of research analyst reports. Stifel Nicolaus dropped their price target on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. BTIG Research dropped their target price on shares of 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. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and issued a $7.60 price target (down previously from $21.00) on shares of New Fortress Energy in a report on Tuesday, October 1st. Finally, Morgan Stanley lowered shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $35.00 to $15.00 in a report on Thursday, October 3rd.

Insiders Place Their Bets

In other New Fortress Energy news, CEO Wesley R. Edens purchased 5,793,742 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was purchased at an average price of $8.63 per share, for a total transaction of $49,999,993.46. Following the purchase, the chief executive officer now directly owns 35,721,915 shares in the company, valued at approximately $308,280,126.45. This trade represents a 19.36 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vontobel Holding Ltd. purchased a new position in New Fortress Energy during the third quarter valued at $511,000. Pinnacle Associates Ltd. purchased a new position in New Fortress Energy in the 3rd quarter valued at about $890,000. American Assets Investment Management LLC boosted its holdings in New Fortress Energy by 101.6% in the 3rd quarter. American Assets Investment Management LLC now owns 114,065 shares of the company’s stock worth $1,037,000 after buying an additional 57,479 shares during the last quarter. M&G Plc increased its stake in New Fortress Energy by 52.6% during the 2nd quarter. M&G Plc now owns 2,537,712 shares of the company’s stock worth $55,830,000 after buying an additional 874,210 shares in the last quarter. Finally, Primecap Management Co. CA increased its stake in New Fortress Energy by 43.7% during the 3rd quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company’s stock worth $104,827,000 after buying an additional 3,505,975 shares in the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

New Fortress Energy Stock Up 2.2 %

Shares of NFE stock opened at $10.55 on Wednesday. The stock’s fifty day moving average price is $9.26 and its 200 day moving average price is $15.11. New Fortress Energy has a 1-year low of $7.82 and a 1-year high of $40.04. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 11.59 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.

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.