New Fortress Energy LLC’s (NFE) Quiet Period To End on March 12th

New Fortress Energy’s (NASDAQ:NFE) quiet period is set to end on Tuesday, March 12th. New Fortress Energy had issued 20,000,000 shares in its IPO on January 31st. The total size of the offering was $280,000,000 based on an initial share price of $14.00. During New Fortress Energy’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

A number of research firms have recently commented on NFE. Evercore ISI began coverage on shares of New Fortress Energy in a research report on Monday, February 25th. They set an “outperform” rating and a $23.00 price target for the company. Credit Suisse Group began coverage on shares of New Fortress Energy in a research report on Monday, February 25th. They set a “neutral” rating and a $17.00 price target for the company. Morgan Stanley began coverage on shares of New Fortress Energy in a research report on Monday, February 25th. They set an “overweight” rating and a $19.00 price target for the company. JMP Securities began coverage on shares of New Fortress Energy in a research report on Monday, February 25th. They set a “mkt outperform” rating and a $18.00 price target for the company. Finally, Barclays began coverage on shares of New Fortress Energy in a research report on Monday, February 25th. They set an “equal weight” rating and a $16.00 price target for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. New Fortress Energy currently has a consensus rating of “Buy” and an average price target of $20.00.

New Fortress Energy stock opened at $14.28 on Friday. New Fortress Energy has a twelve month low of $12.90 and a twelve month high of $16.11.

In other news, Director C. William Griffin acquired 64,039 shares of the firm’s stock in a transaction on Monday, February 4th. The shares were purchased at an average price of $13.79 per share, for a total transaction of $883,097.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Wesley R. Edens acquired 2,500,000 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was purchased at an average price of $14.00 per share, for a total transaction of $35,000,000.00. The disclosure for this purchase can be found here.

COPYRIGHT VIOLATION NOTICE: This news story was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this news story on another domain, it was copied illegally and republished in violation of U.S. and international copyright and trademark laws. The correct version of this news story can be read at https://www.dispatchtribunal.com/2019/03/09/new-fortress-energy-llcs-nfe-quiet-period-to-end-on-march-12th.html.

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.

Further Reading: Preferred Stock

Receive News & Ratings for New Fortress Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Fortress Energy and related companies with MarketBeat.com's FREE daily email newsletter.