Fmr LLC Has $232,000 Holdings in New Fortress Energy Inc. (NASDAQ:NFE)

Fmr LLC trimmed its holdings in New Fortress Energy Inc. (NASDAQ:NFE) by 89.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 25,488 shares of the company’s stock after selling 211,593 shares during the period. Fmr LLC’s holdings in New Fortress Energy were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. nVerses Capital LLC bought a new position in New Fortress Energy in the 3rd quarter valued at about $25,000. KBC Group NV increased its stake in shares of New Fortress Energy by 116.9% during the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after purchasing an additional 1,852 shares during the period. US Bancorp DE lifted its holdings in New Fortress Energy by 344.6% during the 3rd 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 last quarter. Signaturefd LLC boosted its stake in New Fortress Energy by 409.1% in the 3rd quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock valued at $37,000 after purchasing an additional 3,314 shares during the period. Finally, Quarry LP grew its holdings in New Fortress Energy by 125.7% in the 2nd quarter. Quarry LP now owns 2,250 shares of the company’s stock valued at $49,000 after buying an additional 1,253 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley downgraded New Fortress Energy from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $35.00 to $15.00 in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price objective for the company in a report on Wednesday, December 4th. Finally, 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.40.

Insider Buying and Selling

In other New Fortress Energy news, CEO Wesley R. Edens bought 5,793,742 shares of the stock in a transaction on Tuesday, October 1st. The stock was purchased at an average price 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. 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 the SEC website. 37.10% of the stock is currently owned by company insiders.

New Fortress Energy Trading Up 5.4 %

Shares of New Fortress Energy stock opened at $11.96 on Friday. The firm’s 50-day moving average price is $10.03 and its two-hundred day moving average price is $13.99. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 13.14 and a beta of 1.60. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. New Fortress Energy Inc. has a 12-month low of $7.82 and a 12-month high of $39.26.

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.