New Fortress Energy (NASDAQ:NFE) Raised to Hold at Deutsche Bank Aktiengesellschaft

New Fortress Energy (NASDAQ:NFE) was upgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a “sell” rating to a “hold” rating in a research note issued on Wednesday, MarketBeat Ratings reports. The firm presently has a $11.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 4.27% from the company’s previous close.

A number of other analysts have also recently commented on NFE. Morgan Stanley cut New Fortress Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $35.00 to $15.00 in a research report on Thursday, October 3rd. Stifel Nicolaus reduced their price target on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, BTIG Research reduced their price target on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.33.

New Fortress Energy Stock Up 2.2 %

New Fortress Energy stock opened at $10.55 on Wednesday. The stock has a market cap of $2.65 billion, a PE ratio of 11.59 and a beta of 1.60. 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 one year low of $7.82 and a one year high of $40.04. The stock has a fifty day moving average of $9.26 and a 200 day moving average of $15.11.

Insider Transactions at New Fortress Energy

In other New Fortress Energy news, CEO Wesley R. Edens purchased 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, for a total transaction of $49,999,993.46. Following the completion of the acquisition, the chief executive officer now owns 35,721,915 shares in the company, valued at $308,280,126.45. This represents a 19.36 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NFE. Franklin Resources Inc. boosted its position in New Fortress Energy by 8.5% during the 3rd quarter. Franklin Resources Inc. now owns 161,095 shares of the company’s stock valued at $1,555,000 after acquiring an additional 12,587 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of New Fortress Energy in the 3rd quarter worth $628,000. Tanaka Capital Management Inc. boosted its position in shares of New Fortress Energy by 50.7% in the 3rd quarter. Tanaka Capital Management Inc. now owns 32,370 shares of the company’s stock worth $294,000 after purchasing an additional 10,895 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of New Fortress Energy in the 3rd quarter worth $381,000. Finally, State Street Corp boosted its position in shares of New Fortress Energy by 4.9% in the 3rd quarter. State Street Corp now owns 1,205,046 shares of the company’s stock worth $10,954,000 after purchasing an additional 56,153 shares in the last quarter. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

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.