Atom Investors LP Lowers Stock Position in New Fortress Energy Inc. (NASDAQ:NFE)

Atom Investors LP cut its position in shares of New Fortress Energy Inc. (NASDAQ:NFE) by 20.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 122,484 shares of the company’s stock after selling 31,483 shares during the quarter. Atom Investors LP owned approximately 0.06% of New Fortress Energy worth $1,113,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NFE. nVerses Capital LLC purchased a new stake in shares of New Fortress Energy during the 3rd quarter worth approximately $25,000. American National Bank bought a new stake in shares of New Fortress Energy in the second quarter valued at $26,000. KBC Group NV lifted its position in shares of New Fortress Energy by 116.9% during the 3rd 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 last quarter. US Bancorp DE grew its stake in shares of New Fortress Energy by 344.6% during the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company’s stock worth $32,000 after acquiring an additional 2,767 shares during the period. Finally, Signaturefd LLC increased its holdings in New Fortress Energy by 409.1% in the 3rd quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock worth $37,000 after acquiring an additional 3,314 shares during the last quarter. 58.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on NFE. Morgan Stanley downgraded shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $35.00 to $15.00 in a report on Thursday, October 3rd. Stifel Nicolaus reduced 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 note on Monday, August 12th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating and set a $7.60 target price (down previously from $21.00) on shares of New Fortress Energy in a report on Tuesday, October 1st. Finally, BTIG Research decreased their price objective 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, New Fortress Energy has a consensus rating of “Hold” and an average price target of $19.77.

New Fortress Energy Trading Up 2.2 %

New Fortress Energy stock opened at $10.55 on Wednesday. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. New Fortress Energy Inc. has a fifty-two week low of $7.82 and a fifty-two week high of $40.04. The stock has a market cap of $2.65 billion, a P/E ratio of 11.59 and a beta of 1.60. The firm’s fifty day moving average price is $9.26 and its 200-day moving average price is $15.11.

Insiders Place Their Bets

In other news, CEO Wesley R. Edens bought 5,793,742 shares of New Fortress Energy stock in a transaction that occurred on Tuesday, October 1st. The shares were acquired 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 directly owns 35,721,915 shares in the company, valued at $308,280,126.45. The trade was a 19.36 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 37.10% of the company’s stock.

New Fortress Energy Company Profile

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.