Barclays reiterated their hold rating on shares of New Fortress Energy (NASDAQ:NFE) in a research report sent to investors on Tuesday, AnalystRatings.com reports. The firm currently has a $15.00 price target on the stock.
NFE has been the subject of several other research reports. JMP Securities lowered their price objective on shares of New Fortress Energy from $20.00 to $19.00 and set a market outperform rating for the company in a research report on Thursday, May 16th. Zacks Investment Research cut New Fortress Energy from a hold rating to a sell rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. New Fortress Energy has an average rating of Buy and an average price target of $20.00.
NASDAQ:NFE traded up $0.02 on Tuesday, reaching $15.12. The stock had a trading volume of 8,430 shares, compared to its average volume of 150,361. The stock’s fifty day simple moving average is $12.03. New Fortress Energy has a 12-month low of $8.90 and a 12-month high of $16.11.
In other news, Director David J. Grain bought 28,365 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were purchased at an average cost of $12.65 per share, with a total value of $358,817.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John J. Mack bought 10,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of $14.20 per share, for a total transaction of $142,000.00. The disclosure for this purchase can be found here. Insiders have bought 63,499 shares of company stock worth $811,257 over the last three months.
Large investors have recently added to or reduced their stakes in the stock. Morgan Stanley grew its holdings in New Fortress Energy by 51.7% during the second quarter. Morgan Stanley now owns 3,754 shares of the company’s stock worth $44,000 after acquiring an additional 1,280 shares during the period. Wells Fargo & Company MN acquired a new position in shares of New Fortress Energy in the 2nd quarter valued at $123,000. Tortoise Index Solutions LLC acquired a new position in shares of New Fortress Energy in the 1st quarter valued at $257,000. TD Asset Management Inc. acquired a new position in shares of New Fortress Energy in the 2nd quarter valued at $275,000. Finally, Endurance Wealth Management Inc. acquired a new position in shares of New Fortress Energy in the 2nd quarter valued at $304,000. 6.69% of the stock is currently owned by hedge funds and other institutional investors.
About New Fortress Energy
New Fortress Energy LLC operates as an integrated gas-to-power company. The company's activities include natural gas procurement and liquefaction; provision of logistics and shipping services; development and operation of terminals; and conversion or development of natural gas-fired generation. It intends to serve power, transportation, and industrial users of natural gas and LNG.
Featured Story: Why Dividend Stocks May Be Right for You
Receive News & Ratings for New Fortress Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Fortress Energy and related companies with MarketBeat.com's FREE daily email newsletter.