New Fortress Energy (NASDAQ:NFE) Upgraded to “Hold” at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of New Fortress Energy (NASDAQ:NFE) from a sell rating to a hold rating in a research note published on Wednesday, MarketBeat.com reports. Deutsche Bank Aktiengesellschaft currently has $11.00 price target on the stock.

A number of other equities research analysts also recently issued reports on the company. Morgan Stanley downgraded New Fortress Energy from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $35.00 to $15.00 in a research report on Thursday, October 3rd. Stifel Nicolaus reduced their target price on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, BTIG Research reduced 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. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.33.

New Fortress Energy Trading Up 7.6 %

Shares of NFE stock opened at $11.35 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 has a 52-week low of $7.82 and a 52-week high of $39.71. The company has a market capitalization of $2.85 billion, a PE ratio of 12.47 and a beta of 1.60. The business’s fifty day moving average is $9.30 and its 200 day moving average is $15.09.

Insider Activity at New Fortress Energy

In related news, CEO Wesley R. Edens acquired 5,793,742 shares of New Fortress Energy stock in a transaction dated Tuesday, October 1st. The shares were purchased at an average cost 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 owns 35,721,915 shares of the company’s stock, valued at $308,280,126.45. This represents a 19.36 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 37.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in shares of New Fortress Energy by 8.5% during the third quarter. Franklin Resources Inc. now owns 161,095 shares of the company’s stock valued at $1,555,000 after buying an additional 12,587 shares during the last quarter. M&T Bank Corp bought a new position in shares of New Fortress Energy during the third quarter valued at about $628,000. Tanaka Capital Management Inc. grew its stake in shares of New Fortress Energy by 50.7% during the third quarter. Tanaka Capital Management Inc. now owns 32,370 shares of the company’s stock valued at $294,000 after buying an additional 10,895 shares during the last quarter. XTX Topco Ltd bought a new position in shares of New Fortress Energy during the third quarter valued at about $381,000. Finally, State Street Corp grew its stake in shares of New Fortress Energy by 4.9% during the third quarter. State Street Corp now owns 1,205,046 shares of the company’s stock valued at $10,954,000 after buying an additional 56,153 shares during the last quarter. 58.61% of the stock is owned by institutional investors.

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.