A number of other research firms also recently commented on NFE. Zacks Investment Research downgraded shares of New Fortress Energy from a hold rating to a sell rating in a research report on Wednesday, August 7th. JMP Securities dropped their target price on shares of New Fortress Energy from $20.00 to $19.00 and set a market outperform rating on the stock in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $19.43.
Shares of NFE opened at $13.90 on Tuesday. New Fortress Energy has a fifty-two week low of $8.90 and a fifty-two week high of $16.11. The business’s 50 day simple moving average is $11.89.
In related news, Director David J. Grain purchased 10,000 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was acquired at an average price of $11.40 per share, for a total transaction of $114,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Katherine Wanner purchased 2,100 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was bought at an average price of $12.15 per share, with a total value of $25,515.00. The disclosure for this purchase can be found here. Insiders bought a total of 55,599 shares of company stock valued at $694,772 in the last 90 days.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Schroder Investment Management Group purchased a new position in New Fortress Energy during the 2nd quarter valued at about $18,789,000. Federated Investors Inc. PA purchased a new position in New Fortress Energy during the 1st quarter valued at about $13,194,000. Emerald Mutual Fund Advisers Trust purchased a new position in New Fortress Energy during the 1st quarter valued at about $9,129,000. State Treasurer State of Michigan purchased a new position in New Fortress Energy during the 2nd quarter valued at about $1,862,000. Finally, HighTower Advisors LLC increased its holdings in New Fortress Energy by 424.2% during the 2nd quarter. HighTower Advisors LLC now owns 52,416 shares of the company’s stock valued at $614,000 after acquiring an additional 42,416 shares in the last quarter. Institutional investors and hedge funds own 6.69% of the company’s stock.
About New Fortress Energy
New Fortress Energy LLC operates as an integrated gas-to-power company. The company's activities include natural gas procurement and liquefaction; provision of logistics and shipping services; development and operation of terminals; and conversion or development of natural gas-fired generation. It intends to serve power, transportation, and industrial users of natural gas and LNG.
Recommended Story: How does a security become overbought?
Receive News & Ratings for New Fortress Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Fortress Energy and related companies with MarketBeat.com's FREE daily email newsletter.