New Fortress Energy (NASDAQ:NFE) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

New Fortress Energy (NASDAQ:NFE) had its price objective increased by equities researchers at Stifel Nicolaus from $16.00 to $17.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 42.14% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $35.00 to $15.00 in a research report on Thursday, October 3rd. BTIG Research lowered their target price on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a report on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target on the stock in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.40.

New Fortress Energy Price Performance

New Fortress Energy stock opened at $11.96 on Monday. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 13.14 and a beta of 1.60. New Fortress Energy has a 12-month low of $7.82 and a 12-month high of $39.26. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The business’s 50-day simple moving average is $10.03 and its 200 day simple moving average is $13.92.

Insider Activity at New Fortress Energy

In other New Fortress Energy news, CEO Wesley R. Edens bought 5,793,742 shares of New Fortress Energy stock in a transaction on Tuesday, October 1st. The shares were purchased at an average cost of $8.63 per share, for a total transaction of $49,999,993.46. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On New Fortress Energy

A number of hedge funds have recently modified their holdings of the business. nVerses Capital LLC acquired a new position in shares of New Fortress Energy in the 3rd quarter valued at approximately $25,000. KBC Group NV boosted its holdings in shares of New Fortress Energy by 116.9% in the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after buying an additional 1,852 shares during the period. US Bancorp DE boosted its holdings in shares of New Fortress Energy by 344.6% in the third quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after buying an additional 2,767 shares during the period. Signaturefd LLC lifted its position in New Fortress Energy by 409.1% in the 3rd quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock valued at $37,000 after acquiring an additional 3,314 shares in the last quarter. Finally, Quarry LP boosted its stake in New Fortress Energy by 125.7% in the 2nd quarter. Quarry LP now owns 2,250 shares of the company’s stock worth $49,000 after purchasing an additional 1,253 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.

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.