KBC Group NV Buys 1,852 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

KBC Group NV grew its position in New Fortress Energy Inc. (NASDAQ:NFE) by 116.9% during the third quarter, HoldingsChannel reports. The firm owned 3,436 shares of the company’s stock after buying an additional 1,852 shares during the quarter. KBC Group NV’s holdings in New Fortress Energy were worth $31,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Primecap Management Co. CA grew its stake in New Fortress Energy by 73.9% in the 2nd quarter. Primecap Management Co. CA now owns 8,026,130 shares of the company’s stock valued at $176,414,000 after buying an additional 3,410,630 shares during the last quarter. M&G Plc grew its position in shares of New Fortress Energy by 52.6% in the second quarter. M&G Plc now owns 2,537,712 shares of the company’s stock valued at $55,830,000 after purchasing an additional 874,210 shares during the last quarter. American Assets Capital Advisers LLC grew its position in shares of New Fortress Energy by 105.7% in the third quarter. American Assets Capital Advisers LLC now owns 1,555,767 shares of the company’s stock valued at $14,968,000 after purchasing an additional 799,280 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of New Fortress Energy by 7.1% in the second quarter. William Blair Investment Management LLC now owns 9,549,412 shares of the company’s stock worth $209,896,000 after purchasing an additional 633,170 shares during the period. Finally, HITE Hedge Asset Management LLC lifted its position in shares of New Fortress Energy by 24.1% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 3,192,129 shares of the company’s stock worth $70,163,000 after purchasing an additional 619,621 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at New Fortress Energy

In other New Fortress Energy news, CEO Wesley R. Edens purchased 5,793,742 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was purchased at an average price of $8.63 per share, for a total transaction of $49,999,993.46. Following the completion of the purchase, the chief executive officer now directly owns 35,721,915 shares in the company, valued at approximately $308,280,126.45. This trade represents a 19.36 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 37.10% of the company’s stock.

New Fortress Energy Stock Performance

NFE opened at $9.75 on Friday. The stock’s 50 day simple moving average is $9.30 and its 200-day simple moving average is $16.08. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The stock has a market cap of $2.45 billion, a PE ratio of 10.71 and a beta of 1.53. New Fortress Energy Inc. has a 1 year low of $7.82 and a 1 year high of $40.04.

Analyst Ratings Changes

NFE has been the topic of a number of research analyst reports. Morgan Stanley lowered New Fortress Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $35.00 to $15.00 in a report on Thursday, October 3rd. Barclays lowered their price objective on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. BTIG Research dropped their target price on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Stifel Nicolaus reduced their price target on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating and set a $7.60 price objective (down previously from $21.00) on shares of New Fortress Energy in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, New Fortress Energy currently has a consensus rating of “Hold” and an average target price of $19.77.

New Fortress Energy Profile

New Fortress Energy Inc operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide. The company operates in two segments, Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.