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

Shares of New Fortress Energy LLC (NASDAQ:NFE) have been given an average recommendation of “Hold” by the nine analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $7.8750.

Several research firms have issued reports on NFE. Zacks Research upgraded New Fortress Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings restated a “sell (d)” rating on shares of New Fortress Energy in a research report on Monday, December 29th.

New Fortress Energy Trading Down 4.4%

NASDAQ:NFE opened at $1.09 on Friday. The stock’s 50-day moving average is $1.27 and its two-hundred day moving average is $1.60. 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 fifty-two week low of $0.98 and a fifty-two week high of $12.59. The stock has a market cap of $310.16 million, a PE ratio of -0.28 and a beta of 1.03.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Thursday, January 1st. The company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.40). The company had revenue of $327.37 million for the quarter, compared to the consensus estimate of $716.89 million. New Fortress Energy had a negative return on equity of 43.91% and a negative net margin of 72.92%.The firm’s revenue for the quarter was down 42.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 EPS. As a group, equities research analysts forecast that New Fortress Energy will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC bought a new stake in New Fortress Energy in the first quarter valued at approximately $390,000. Goldman Sachs Group Inc. lifted its holdings in shares of New Fortress Energy by 133.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 865,826 shares of the company’s stock valued at $7,195,000 after purchasing an additional 494,848 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of New Fortress Energy by 42.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 280,706 shares of the company’s stock valued at $2,333,000 after buying an additional 83,279 shares during the period. Corton Capital Inc. increased its holdings in New Fortress Energy by 203.4% during the 2nd quarter. Corton Capital Inc. now owns 42,581 shares of the company’s stock worth $141,000 after purchasing an additional 28,548 shares in the last quarter. Finally, Yelin Lapidot Holdings Management Ltd. bought a new position in New Fortress Energy during the 2nd quarter worth about $57,000. 58.61% of the stock is currently owned by institutional investors.

About New Fortress Energy

New Fortress Energy is an integrated global energy infrastructure company focused on the development, construction and operation of natural gas-to-power projects and liquefied natural gas (LNG) terminals. The company sources LNG and delivers it via a network of floating storage and regasification units (FSRUs), onshore regasification terminals, and small-scale LNG carriers. By providing reliable natural gas supply solutions, New Fortress Energy aims to displace higher-carbon fuels in power generation, industrial and marine sectors.

The company’s core activities include the design, development and operation of FSRUs and onshore regasification terminals that convert cryogenic LNG back to gas for delivery into domestic transmission networks.