New Fortress Energy (NFE) Sees Strong Trading Volume
New Fortress Energy LLC (NASDAQ:NFE) shares saw an uptick in trading volume on Thursday . 1,543,138 shares were traded during trading, an increase of 382% from the previous session’s volume of 320,227 shares.The stock last traded at $9.91 and had previously closed at $9.51.
Several research firms recently commented on NFE. JMP Securities reaffirmed a “buy” rating and set a $20.00 target price on shares of New Fortress Energy in a report on Wednesday, March 13th. Barclays began coverage on New Fortress Energy in a report on Monday, February 25th. They set an “equal weight” rating and a $16.00 target price on the stock. Wolfe Research began coverage on New Fortress Energy in a report on Thursday, February 21st. They set an “outperform” rating and a $20.00 target price on the stock. Morgan Stanley began coverage on New Fortress Energy in a report on Monday, February 25th. They set an “overweight” rating and a $19.00 target price on the stock. Finally, Citigroup began coverage on New Fortress Energy in a report on Monday, February 25th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. New Fortress Energy has a consensus rating of “Buy” and an average target price of $19.57.
In other New Fortress Energy news, CEO Wesley R. Edens purchased 2,500,000 shares of the stock in a transaction on Monday, February 4th. The shares were bought at an average price of $14.00 per share, for a total transaction of $35,000,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director C. William Griffin purchased 64,039 shares of the stock in a transaction on Monday, February 4th. The shares were acquired at an average price of $13.79 per share, for a total transaction of $883,097.81. The disclosure for this purchase can be found here.
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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