New Fortress Energy (NASDAQ:NFE) Given New $17.00 Price Target at Stifel Nicolaus

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

A number of other analysts have also recently issued reports on NFE. Morgan Stanley cut New Fortress Energy from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $35.00 to $15.00 in a research report on Thursday, October 3rd. BTIG Research decreased their target price on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price on the stock in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.40.

New Fortress Energy Stock Up 5.4 %

NFE stock opened at $11.96 on Monday. New Fortress Energy has a twelve month low of $7.82 and a twelve 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 company has a market cap of $3.01 billion, a PE ratio of 13.14 and a beta of 1.60. The business’s 50-day simple moving average is $10.03 and its 200 day simple moving average is $13.92.

Insider Buying and Selling

In other New Fortress Energy news, CEO Wesley R. Edens purchased 5,793,742 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were acquired at an average cost of $8.63 per share, for a total transaction of $49,999,993.46. Following the transaction, the chief executive officer now directly owns 35,721,915 shares in the company, valued at approximately $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 link. 37.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On New Fortress Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. X Square Capital LLC increased its stake in shares of New Fortress Energy by 0.6% in the second quarter. X Square Capital LLC now owns 137,396 shares of the company’s stock valued at $3,020,000 after buying an additional 781 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in New Fortress Energy by 4.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company’s stock worth $477,000 after acquiring an additional 999 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in New Fortress Energy by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,784 shares of the company’s stock valued at $479,000 after acquiring an additional 1,024 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of New Fortress Energy by 7.7% in the second quarter. Victory Capital Management Inc. now owns 14,933 shares of the company’s stock worth $328,000 after acquiring an additional 1,062 shares during the last quarter. Finally, Quarry LP lifted its position in shares of New Fortress Energy by 125.7% during the second quarter. Quarry LP now owns 2,250 shares of the company’s stock worth $49,000 after purchasing an additional 1,253 shares in the last quarter. 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.