New Fortress Energy LLC (NFE) Director John J. Mack Purchases 9,786 Shares

New Fortress Energy LLC (NASDAQ:NFE) Director John J. Mack purchased 9,786 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was acquired at an average price of $12.98 per share, for a total transaction of $127,022.28. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

New Fortress Energy stock traded up $0.52 during trading on Thursday, reaching $13.38. The company had a trading volume of 150,381 shares, compared to its average volume of 219,840. New Fortress Energy LLC has a 1-year low of $8.90 and a 1-year high of $16.11.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.73). The company had revenue of $29.95 million for the quarter, compared to analysts’ expectations of $50.71 million.

A number of brokerages have recently commented on NFE. Credit Suisse Group began coverage on shares of New Fortress Energy in a research note on Monday, February 25th. They set a “neutral” rating and a $17.00 price objective on the stock. Wolfe Research began coverage on shares of New Fortress Energy in a research note on Thursday, February 21st. They set an “outperform” rating and a $20.00 price objective on the stock. Stifel Nicolaus began coverage on shares of New Fortress Energy in a research note on Monday, February 25th. They set a “buy” rating and a $27.00 price objective on the stock. Morgan Stanley began coverage on shares of New Fortress Energy in a research note on Monday, February 25th. They set an “overweight” rating and a $19.00 price objective on the stock. Finally, JMP Securities began coverage on shares of New Fortress Energy in a research note on Monday, February 25th. They set a “mkt outperform” rating and a $18.00 price objective on the stock. One equities 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 company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.43.

Institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley purchased a new position in New Fortress Energy in the 1st quarter valued at $29,000. SEI Investments Co purchased a new position in New Fortress Energy in the 1st quarter valued at $55,000. HighTower Advisors LLC purchased a new position in New Fortress Energy in the 1st quarter valued at $117,000. Tortoise Index Solutions LLC purchased a new position in New Fortress Energy in the 1st quarter valued at $257,000. Finally, Dean Capital Investments Management LLC purchased a new position in New Fortress Energy in the 1st quarter valued at $536,000. 1.91% of the stock is currently owned by hedge funds and other institutional investors.

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New Fortress Energy Company Profile

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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