New Fortress Energy LLC (NASDAQ:NFE) shot up 1.2% during trading on Wednesday . The company traded as high as $13.96 and last traded at $14.06, 1,400 shares traded hands during trading. A decline of 99% from the average session volume of 179,638 shares. The stock had previously closed at $13.90.

A number of research firms have recently commented on NFE. JMP Securities reduced their target price on shares of New Fortress Energy from $20.00 to $19.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 16th. Zacks Investment Research cut shares of New Fortress Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Finally, Barclays reissued a “hold” rating and set a $15.00 target price on shares of New Fortress Energy in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $20.00.

The company has a 50-day simple moving average of $11.95.

New Fortress Energy (NASDAQ:NFE) last posted its earnings results on Monday, August 12th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The firm had revenue of $39.77 million for the quarter, compared to analyst estimates of $42.91 million. As a group, equities analysts forecast that New Fortress Energy LLC will post -0.87 EPS for the current fiscal year.

In related news, Director David J. Grain purchased 28,365 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were purchased at an average cost of $12.65 per share, with a total value of $358,817.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Katherine Wanner purchased 2,100 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was bought at an average cost of $12.15 per share, for a total transaction of $25,515.00. The disclosure for this purchase can be found here. Insiders purchased 55,599 shares of company stock worth $694,772 over the last ninety days.

Hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley increased its stake in New Fortress Energy by 51.7% during the second quarter. Morgan Stanley now owns 3,754 shares of the company’s stock valued at $44,000 after purchasing an additional 1,280 shares during the last quarter. Wells Fargo & Company MN bought a new stake in New Fortress Energy during the second quarter valued at $123,000. Tortoise Index Solutions LLC bought a new stake in New Fortress Energy during the first quarter valued at $257,000. TD Asset Management Inc. bought a new stake in New Fortress Energy during the second quarter valued at $275,000. Finally, Endurance Wealth Management Inc. bought a new stake in New Fortress Energy during the second quarter valued at $304,000. Hedge funds and other institutional investors own 6.69% of the company’s stock.

About New Fortress Energy (NASDAQ:NFE)

New Fortress Energy LLC operates as an integrated gas-to-power company. The company's activities include natural gas procurement and liquefaction; provision of logistics and shipping services; development and operation of terminals; and conversion or development of natural gas-fired generation. It intends to serve power, transportation, and industrial users of natural gas and LNG.

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