New Fortress Energy (NASDAQ:NFE) Given a $4.00 Price Target at Morgan Stanley

New Fortress Energy (NASDAQ:NFE) received a $4.00 price target from equities researchers at Morgan Stanley in a research report issued on Tuesday, MarketBeat reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 41.34% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus lowered their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Citigroup lowered their price objective on New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. BTIG Research set a $8.00 price objective on New Fortress Energy and gave the company a “buy” rating in a research report on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a research report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.17.

New Fortress Energy Trading Up 1.4%

Shares of NFE opened at $2.83 on Tuesday. The firm has a market cap of $774.77 million, a price-to-earnings ratio of 3.11 and a beta of 1.45. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. New Fortress Energy has a fifty-two week low of $2.26 and a fifty-two week high of $26.22. The firm has a 50 day moving average price of $5.86 and a 200-day moving average price of $10.04.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The firm had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. As a group, equities research analysts forecast that New Fortress Energy will post 0.36 earnings per share for the current year.

Insider Buying and Selling at New Fortress Energy

In other New Fortress Energy news, CFO Christopher S. Guinta bought 5,000 shares of New Fortress Energy stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of the purchase, the chief financial officer now owns 206,653 shares of the company’s stock, valued at approximately $1,771,016.21. This represents a 2.48% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On New Fortress Energy

Several hedge funds have recently made changes to their positions in NFE. SG Americas Securities LLC purchased a new position in shares of New Fortress Energy during the fourth quarter valued at approximately $125,000. Janney Montgomery Scott LLC purchased a new position in shares of New Fortress Energy during the fourth quarter valued at approximately $533,000. KBC Group NV increased its stake in shares of New Fortress Energy by 121.1% during the fourth quarter. KBC Group NV now owns 7,596 shares of the company’s stock valued at $115,000 after buying an additional 4,160 shares during the period. Redwood Wealth Management Group LLC purchased a new position in shares of New Fortress Energy during the fourth quarter valued at approximately $749,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of New Fortress Energy during the fourth quarter valued at approximately $118,000. 58.61% of the stock is owned by hedge funds and other institutional investors.

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.