New Fortress Energy Inc. (NASDAQ:NFE) Shares Sold by Barclays PLC

Barclays PLC reduced its holdings in New Fortress Energy Inc. (NASDAQ:NFE) by 39.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 210,297 shares of the company’s stock after selling 137,114 shares during the period. Barclays PLC owned about 0.10% of New Fortress Energy worth $1,911,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. nVerses Capital LLC acquired a new stake in New Fortress Energy in the 3rd quarter valued at $25,000. KBC Group NV lifted its holdings in New Fortress Energy by 116.9% during the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after purchasing an additional 1,852 shares in the last quarter. US Bancorp DE grew its position in shares of New Fortress Energy by 344.6% in the third quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after purchasing an additional 2,767 shares during the period. Signaturefd LLC increased its stake in shares of New Fortress Energy by 409.1% during the third quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock worth $37,000 after purchasing an additional 3,314 shares in the last quarter. Finally, Quarry LP increased its stake 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. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at New Fortress Energy

In other news, CEO Wesley R. Edens purchased 5,793,742 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was acquired at an average price of $8.63 per share, for a total transaction of $49,999,993.46. Following the acquisition, the chief executive officer now directly owns 35,721,915 shares of the company’s stock, valued at approximately $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. Insiders own 37.10% of the company’s stock.

Analyst Ratings Changes

NFE has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price objective on the stock in a report on Wednesday, December 4th. BTIG Research reduced their price objective on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Stifel Nicolaus lifted their target price on shares of New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $35.00 to $15.00 in a research report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.40.

New Fortress Energy Stock Performance

Shares of New Fortress Energy stock opened at $14.51 on Friday. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The business’s 50 day moving average price is $10.34 and its 200 day moving average price is $13.80. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 15.95 and a beta of 1.60. New Fortress Energy Inc. has a one year low of $7.82 and a one year high of $39.05.

New Fortress Energy 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.