New Fortress Energy (NFE) Stock Price Up 9.4%

New Fortress Energy LLC (NASDAQ:NFE)’s share price rose 9.4% on Monday . The stock traded as high as $11.55 and last traded at $11.25. Approximately 714,361 shares traded hands during mid-day trading, an increase of 138% from the average daily volume of 300,737 shares. The stock had previously closed at $10.28.

NFE has been the subject of several research reports. Evercore ISI initiated coverage on New Fortress Energy in a report on Monday, February 25th. They set an “outperform” rating and a $23.00 price target for the company. Stifel Nicolaus initiated coverage on New Fortress Energy in a report on Monday, February 25th. They set a “buy” rating and a $27.00 price target for the company. Credit Suisse Group initiated coverage on New Fortress Energy in a report on Monday, February 25th. They set a “neutral” rating and a $17.00 price target for the company. Citigroup initiated coverage on New Fortress Energy in a report on Monday, February 25th. They set a “buy” rating for the company. Finally, JMP Securities initiated coverage on New Fortress Energy in a report on Monday, February 25th. They set a “mkt outperform” rating and a $18.00 price target for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. New Fortress Energy has a consensus rating of “Buy” and an average target price of $20.29.

In related news, CEO Wesley R. Edens purchased 2,500,000 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The stock was acquired at an average price of $14.00 per share, with a total value of $35,000,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director C. William Griffin purchased 64,039 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The stock was bought at an average cost of $13.79 per share, with a total value of $883,097.81. The disclosure for this purchase can be found here.

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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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