Analysts Set New Fortress Energy Inc. (NASDAQ:NFE) PT at $19.77

New Fortress Energy Inc. (NASDAQ:NFE) has been given a consensus rating of “Hold” by the six brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $19.77.

Several equities research analysts recently issued reports on the company. BTIG Research dropped 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. Barclays reduced their price target on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Stifel Nicolaus lowered 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. Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $35.00 to $15.00 in a report on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and set a $7.60 target price (down from $21.00) on shares of New Fortress Energy in a report on Tuesday, October 1st.

New Fortress Energy Trading Up 1.8 %

NASDAQ NFE opened at $10.67 on Wednesday. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 11.73 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. New Fortress Energy has a 12 month low of $7.82 and a 12 month high of $40.04. The company’s fifty day moving average price is $9.24 and its two-hundred day moving average price is $15.51.

Insider Buying and Selling at New Fortress Energy

In other New Fortress Energy news, CEO Wesley R. Edens purchased 5,793,742 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was bought at an average price of $8.63 per share, with a total value of $49,999,993.46. Following the completion of the purchase, the chief executive officer now owns 35,721,915 shares in the company, valued at $308,280,126.45. This trade represents a 19.36 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 37.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On New Fortress Energy

A number of hedge funds and other institutional investors have recently modified their holdings of NFE. X Square Capital LLC raised its holdings in New Fortress Energy by 0.6% during the second quarter. X Square Capital LLC now owns 137,396 shares of the company’s stock worth $3,020,000 after purchasing an additional 781 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of New Fortress Energy by 4.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company’s stock valued at $477,000 after purchasing an additional 999 shares during the period. Tidal Investments LLC raised its stake in shares of New Fortress Energy by 10.9% in the 1st quarter. Tidal Investments LLC now owns 10,297 shares of the company’s stock worth $315,000 after buying an additional 1,009 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of New Fortress Energy by 4.9% in the second quarter. The Manufacturers Life Insurance Company now owns 21,784 shares of the company’s stock valued at $479,000 after buying an additional 1,024 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in New Fortress Energy by 7.7% during the second quarter. Victory Capital Management Inc. now owns 14,933 shares of the company’s stock valued at $328,000 after buying an additional 1,062 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors.

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.