XTX Topco Ltd Invests $381,000 in New Fortress Energy Inc. (NASDAQ:NFE)

XTX Topco Ltd bought a new position in shares of New Fortress Energy Inc. (NASDAQ:NFE) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 41,882 shares of the company’s stock, valued at approximately $381,000.

Several other hedge funds have also added to or reduced their stakes in NFE. American National Bank bought a new position in shares of New Fortress Energy during the second quarter worth approximately $26,000. Quarry LP grew its position in 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 buying an additional 1,253 shares in the last quarter. nVerses Capital LLC bought a new position in New Fortress Energy during the 3rd quarter worth $25,000. Benjamin F. Edwards & Company Inc. raised its holdings in New Fortress Energy by 118.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,031 shares of the company’s stock valued at $67,000 after acquiring an additional 1,644 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of New Fortress Energy by 116.9% during the 3rd 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 period. 58.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at New Fortress Energy

In other news, CEO Wesley R. Edens acquired 5,793,742 shares of New Fortress Energy stock in a transaction that occurred on Tuesday, October 1st. The shares were acquired at an average price of $8.63 per share, for a total transaction of $49,999,993.46. Following the transaction, the chief executive officer now directly owns 35,721,915 shares of the company’s stock, valued at approximately $308,280,126.45. The trade was a 19.36 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 37.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on NFE shares. Morgan Stanley cut New Fortress Energy from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $35.00 to $15.00 in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price for the company in a research report on Wednesday, December 4th. Finally, BTIG Research cut their price target on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.33.

New Fortress Energy Stock Down 2.5 %

Shares of NASDAQ NFE opened at $12.80 on Monday. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 14.07 and a beta of 1.60. The company has a current ratio of 0.38, a quick ratio of 0.35 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. The stock has a 50-day moving average price of $9.78 and a two-hundred day moving average price of $14.37.

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.