Nicolet Advisory Services LLC Buys New Position in New Fortress Energy Inc. (NASDAQ:NFE)

by · The Markets Daily

Nicolet Advisory Services LLC purchased a new stake in New Fortress Energy Inc. (NASDAQ:NFE – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,565 shares of the company’s stock, valued at approximately $104,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Gamco Investors INC. ET AL boosted its stake in New Fortress Energy by 135.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 24,293 shares of the company’s stock worth $743,000 after purchasing an additional 13,993 shares during the period. Price T Rowe Associates Inc. MD raised its position in New Fortress Energy by 6.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 33,824 shares of the company’s stock valued at $1,035,000 after buying an additional 2,039 shares during the period. Bayesian Capital Management LP lifted its stake in New Fortress Energy by 42.1% in the 1st quarter. Bayesian Capital Management LP now owns 32,422 shares of the company’s stock worth $992,000 after acquiring an additional 9,600 shares in the last quarter. Janus Henderson Group PLC boosted its position in New Fortress Energy by 187.5% during the 1st quarter. Janus Henderson Group PLC now owns 88,668 shares of the company’s stock worth $2,712,000 after acquiring an additional 57,823 shares during the period. Finally, Tidal Investments LLC grew its stake in New Fortress Energy by 10.9% during the 1st quarter. Tidal Investments LLC now owns 10,297 shares of the company’s stock valued at $315,000 after acquiring an additional 1,009 shares in the last quarter. 58.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Stifel Nicolaus lowered their price objective on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft restated a “sell” rating and set a $7.60 price target (down from $21.00) on shares of New Fortress Energy in a report on Tuesday, October 1st. Morgan Stanley lowered New Fortress Energy from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $35.00 to $15.00 in a report on Thursday, October 3rd. BTIG Research lowered their target price on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Finally, Barclays cut their price target on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.77.

Check Out Our Latest Stock Analysis on New Fortress Energy

New Fortress Energy Price Performance

NASDAQ NFE opened at $9.75 on Monday. New Fortress Energy Inc. has a fifty-two week low of $7.82 and a fifty-two week high of $40.04. The stock’s 50-day moving average is $9.30 and its two-hundred day moving average is $16.01. The firm has a market cap of $2.45 billion, a P/E ratio of 10.71 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.

Insider Activity

In other New Fortress Energy news, CEO Wesley R. Edens acquired 5,793,742 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was acquired at an average price of $8.63 per share, with a total value of $49,999,993.46. Following the transaction, the chief executive officer now owns 35,721,915 shares of the company’s stock, valued at approximately $308,280,126.45. This trade represents a 19.36 % increase in their ownership of the stock. The acquisition 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 insiders.

New Fortress Energy Profile

(Free Report)

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.

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