Wall Street Zen lowered shares of New Fortress Energy (NASDAQ:NFE – Free Report) from a hold rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.
Separately, Weiss Ratings upgraded shares of New Fortress Energy from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, October 16th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.
Get Our Latest Report on New Fortress Energy
New Fortress Energy Trading Down 10.5%
NFE stock opened at $4.02 on Friday. New Fortress Energy has a 12-month low of $3.24 and a 12-month high of $99.00. The company has a 50 day moving average of $7.11 and a two-hundred day moving average of $27.79.
Institutional Investors Weigh In On New Fortress Energy
A number of hedge funds and other institutional investors have recently made changes to their positions in NFE. Primecap Management Co. CA acquired a new stake in shares of New Fortress Energy during the 2nd quarter valued at about $33,000. X Square Capital LLC acquired a new position in New Fortress Energy in the second quarter worth approximately $33,000. Bank of New York Mellon Corp acquired a new position in New Fortress Energy in the second quarter worth approximately $59,000. Wealthfront Advisers LLC increased its holdings in New Fortress Energy by 7.3% in the first quarter. Wealthfront Advisers LLC now owns 195,946 shares of the company’s stock worth $116,000 after buying an additional 13,343 shares during the last quarter. Finally, Hohimer Wealth Management LLC acquired a new position in New Fortress Energy in the third quarter worth approximately $118,000. 58.61% of the stock is owned by hedge funds and other institutional investors.
New Fortress Energy Company Profile
New Fortress Energy Inc is an energy infrastructure company that develops, owns and operates facilities used to produce, transport, store and deliver natural gas and liquefied natural gas (LNG). Its operations are designed to provide reliable energy to utilities, industrial customers, power generators and other end users that may not have access to traditional pipeline gas infrastructure.
The company’s activities include LNG liquefaction, marine transportation, regasification and natural gas distribution, as well as the development and operation of natural gas-fired power generation facilities.
Further Reading
- Five stocks we like better than New Fortress Energy
- Wall Street May Be Making a Big Mistake With monday.com Stock
- Are These 2 Mid-Cap Growth Stocks Worth the Risk?
- Oklo Changes the Narrative: Does a Nuclear Stock Price Explosion Come Next?
- Cloudflare’s 20% Sell-Off May Have Created an Opening for Investors
Receive News & Ratings for New Fortress Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Fortress Energy and related companies with MarketBeat.com's FREE daily email newsletter.
