New Fortress Energy LLC (NASDAQ:NFE) CEO Wesley R. Edens bought 592,100 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were acquired at an average price of $9.84 per share, for a total transaction of $5,826,264.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of NASDAQ NFE traded up $0.40 during midday trading on Thursday, reaching $9.91. The stock had a trading volume of 1,542,260 shares, compared to its average volume of 320,227. New Fortress Energy LLC has a twelve month low of $8.90 and a twelve month high of $16.11.
Several equities research analysts recently commented on the stock. Barclays set a $11.00 target price on shares of New Fortress Energy and gave the stock a “hold” rating in a research report on Thursday. JMP Securities reiterated a “buy” rating and set a $20.00 target price on shares of New Fortress Energy in a research report on Wednesday, March 13th. Evercore ISI assumed coverage on shares of New Fortress Energy in a research report on Monday, February 25th. They set an “outperform” rating and a $23.00 target price on the stock. Credit Suisse Group assumed coverage on shares of New Fortress Energy in a research report on Monday, February 25th. They set a “neutral” rating and a $17.00 target price on the stock. Finally, Morgan Stanley assumed coverage on shares of New Fortress Energy in a research report on Monday, February 25th. They set an “overweight” rating and a $19.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $19.57.
About New Fortress Energy
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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