New Fortress Energy LLC (NASDAQ:NFE)’s stock price was up 2.2% on Wednesday . The company traded as high as $18.30 and last traded at $18.14, approximately 4,210 shares changed hands during mid-day trading. A decline of 96% from the average daily volume of 110,301 shares. The stock had previously closed at $17.75.
A number of analysts have weighed in on NFE shares. Zacks Investment Research cut New Fortress Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Barclays reissued a “hold” rating and issued a $15.00 price target on shares of New Fortress Energy in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $20.00.
The company has a 50 day moving average of $14.55 and a 200 day moving average of $12.45.
In related news, Director John J. Mack acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $14.20 per share, for a total transaction of $142,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director C. William Griffin purchased 10,665 shares of New Fortress Energy stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average price of $16.34 per share, with a total value of $174,266.10. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 35,000 shares of company stock valued at $548,206.
Institutional investors have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. bought a new position in New Fortress Energy during the second quarter worth about $30,000. Morgan Stanley grew its holdings in New Fortress Energy by 51.7% during the second quarter. Morgan Stanley now owns 3,754 shares of the company’s stock worth $44,000 after purchasing an additional 1,280 shares during the period. Wells Fargo & Company MN bought a new position in New Fortress Energy during the second quarter worth about $123,000. Tortoise Index Solutions LLC bought a new position in New Fortress Energy during the first quarter worth about $257,000. Finally, TD Asset Management Inc. bought a new position in New Fortress Energy during the second quarter worth about $275,000. Institutional investors and hedge funds own 7.16% of the company’s stock.
New Fortress Energy Company Profile (NASDAQ:NFE)
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.
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