New Fortress Energy Inc. (NASDAQ:NFE) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of New Fortress Energy Inc. (NASDAQ:NFE) have earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $13.00.

NFE has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their price target on New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a report on Wednesday, March 12th. Citigroup cut their target price on shares of New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Morgan Stanley dropped their price objective on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, March 4th.

Insider Buying and Selling

In other New Fortress Energy news, CFO Christopher S. Guinta bought 5,000 shares of New Fortress Energy stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $8.57 per share, with a total value of $42,850.00. Following the transaction, the chief financial officer now directly owns 206,653 shares of the company’s stock, valued at approximately $1,771,016.21. This represents a 2.48 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 37.10% of the stock is owned by insiders.

Institutional Trading of New Fortress Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFE. JPMorgan Chase & Co. raised its position in New Fortress Energy by 2.0% during the 4th quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company’s stock worth $730,000 after buying an additional 935 shares during the last quarter. US Bancorp DE boosted its holdings in shares of New Fortress Energy by 31.5% in the 4th quarter. US Bancorp DE now owns 4,696 shares of the company’s stock valued at $71,000 after acquiring an additional 1,126 shares during the last quarter. Allworth Financial LP increased its stake in shares of New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock worth $32,000 after acquiring an additional 1,962 shares during the period. Victory Capital Management Inc. raised its holdings in shares of New Fortress Energy by 11.2% during the first quarter. Victory Capital Management Inc. now owns 21,474 shares of the company’s stock worth $178,000 after purchasing an additional 2,157 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in New Fortress Energy by 148.5% during the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $60,000 after purchasing an additional 2,370 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Price Performance

Shares of NASDAQ:NFE opened at $6.08 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The stock has a market capitalization of $1.66 billion, a PE ratio of 6.68 and a beta of 1.52. The firm’s 50 day moving average price is $7.80 and its 200-day moving average price is $10.60. New Fortress Energy has a twelve month low of $4.72 and a twelve month high of $29.11.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The business had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. Equities research analysts expect that New Fortress Energy will post 0.36 EPS for the current year.

About New Fortress Energy

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.