Nicolet Advisory Services LLC Makes New Investment in New Fortress Energy Inc. (NASDAQ:NFE)

Nicolet Advisory Services LLC acquired a new position in New Fortress Energy Inc. (NASDAQ:NFE) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 11,565 shares of the company’s stock, valued at approximately $104,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. nVerses Capital LLC acquired a new position in shares of New Fortress Energy during the 3rd quarter worth about $25,000. American National Bank bought a new stake in shares of New Fortress Energy during the 2nd quarter worth approximately $26,000. KBC Group NV lifted its stake in New Fortress Energy by 116.9% in the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after acquiring an additional 1,852 shares during the last quarter. US Bancorp DE grew its holdings in New Fortress Energy by 344.6% during the third quarter. US Bancorp DE now owns 3,570 shares of the company’s stock worth $32,000 after purchasing an additional 2,767 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of New Fortress Energy by 409.1% during the 3rd quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock worth $37,000 after acquiring an additional 3,314 shares during the period. Institutional investors own 58.61% of the company’s stock.

New Fortress Energy Price Performance

New Fortress Energy stock opened at $9.75 on Monday. The firm has a market cap of $2.45 billion, a P/E ratio of 10.71 and a beta of 1.53. The stock’s 50 day moving average is $9.30 and its 200 day moving average is $16.01. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. New Fortress Energy Inc. has a one year low of $7.82 and a one year high of $40.04.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NFE shares. Morgan Stanley lowered shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $35.00 to $15.00 in a research note on Thursday, October 3rd. Barclays decreased their price target on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Stifel Nicolaus cut their target price on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, August 12th. BTIG Research reduced their price target on shares of 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. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating and set a $7.60 price objective (down previously from $21.00) on shares of New Fortress Energy in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.77.

Insider Transactions at New Fortress Energy

In other New Fortress Energy news, CEO Wesley R. Edens purchased 5,793,742 shares of the company’s stock in a transaction on 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 in the company, valued at $308,280,126.45. This represents a 19.36 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 37.10% 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.