New Fortress Energy LLC (NASDAQ:NFE) Given Average Recommendation of “Hold” by Analysts

Shares of New Fortress Energy LLC (NASDAQ:NFE) have earned an average rating of “Hold” from the nine brokerages that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $7.8750.

Several research analysts have recently issued reports on NFE shares. Zacks Research cut New Fortress Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Capital One Financial reiterated an “underweight” rating on shares of New Fortress Energy in a report on Monday, September 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of New Fortress Energy in a research report on Tuesday, October 14th.

New Fortress Energy Price Performance

Shares of NFE opened at $1.26 on Monday. The firm has a market capitalization of $358.53 million, a PE ratio of -0.33 and a beta of 1.11. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.17 and a quick ratio of 0.15. New Fortress Energy has a 1-year low of $0.98 and a 1-year high of $16.66. The company’s fifty day moving average price is $1.49 and its 200-day moving average price is $2.33.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results on Wednesday, June 18th. The company reported $0.13 earnings per share (EPS) for the quarter. New Fortress Energy had a negative return on equity of 43.91% and a negative net margin of 72.92%.The company had revenue of $679.00 million during the quarter. On average, equities research analysts predict that New Fortress Energy will post 0.36 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFE. Rubric Capital Management LP grew its position in New Fortress Energy by 1.5% during the 3rd quarter. Rubric Capital Management LP now owns 24,767,087 shares of the company’s stock worth $54,735,000 after purchasing an additional 367,087 shares during the period. Vanguard Group Inc. lifted its holdings in shares of New Fortress Energy by 22.6% in the 1st quarter. Vanguard Group Inc. now owns 13,879,490 shares of the company’s stock valued at $115,339,000 after buying an additional 2,560,242 shares during the period. Primecap Management Co. CA boosted its stake in shares of New Fortress Energy by 0.7% in the second quarter. Primecap Management Co. CA now owns 13,132,578 shares of the company’s stock worth $43,600,000 after buying an additional 90,180 shares during the last quarter. Long Focus Capital Management LLC grew its holdings in New Fortress Energy by 43.7% during the third quarter. Long Focus Capital Management LLC now owns 7,400,000 shares of the company’s stock worth $16,354,000 after acquiring an additional 2,250,000 shares during the period. Finally, Shay Capital LLC grew its holdings in New Fortress Energy by 272.1% during the third quarter. Shay Capital LLC now owns 5,675,000 shares of the company’s stock worth $12,542,000 after acquiring an additional 4,150,000 shares during the period. 58.61% of the stock is currently owned by institutional investors and hedge funds.

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.