Shares of New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) have received a consensus recommendation of "Hold" from the six analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $19.77.
A number of equities research analysts recently weighed in on NFE shares. Morgan Stanley lowered shares of New Fortress Energy from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $35.00 to $15.00 in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating and issued a $7.60 target price (down from $21.00) on shares of New Fortress Energy in a report on Tuesday, October 1st. Barclays dropped their target price on shares of New Fortress Energy from $27.00 to $19.00 and set an "equal weight" rating on the stock in a report on Monday, August 5th. Stifel Nicolaus lowered their price target 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, BTIG Research dropped their target price 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.
Check Out Our Latest Stock Analysis on NFE
In other New Fortress Energy news, CEO Wesley R. Edens acquired 5,793,742 shares of the firm's stock in a transaction on Tuesday, October 1st. The stock was acquired at an average cost of $8.63 per share, for a total transaction of $49,999,993.46. Following the purchase, the chief executive officer now owns 35,721,915 shares in the company, valued at approximately $308,280,126.45. The trade was a 19.36 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 37.10% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC acquired a new stake in shares of New Fortress Energy during the 3rd quarter valued at about $25,000. American National Bank purchased a new position in shares of New Fortress Energy during the 2nd quarter valued at approximately $26,000. KBC Group NV grew its stake in New Fortress Energy by 116.9% in the 3rd quarter. KBC Group NV now owns 3,436 shares of the company's stock valued at $31,000 after acquiring an additional 1,852 shares during the period. US Bancorp DE raised its position in New Fortress Energy by 344.6% during the third quarter. US Bancorp DE now owns 3,570 shares of the company's stock worth $32,000 after acquiring an additional 2,767 shares during the period. Finally, Signaturefd LLC lifted its holdings 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 in the last quarter. 58.61% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ NFE opened at $10.04 on Wednesday. The stock has a market capitalization of $2.52 billion, a P/E ratio of 11.03 and a beta of 1.53. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The business's 50 day moving average is $9.25 and its two-hundred day moving average is $15.81. New Fortress Energy has a 1-year low of $7.82 and a 1-year high of $40.04.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider New Fortress Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New Fortress Energy wasn't on the list.
While New Fortress Energy currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.