Analysts Set New Fortress Energy LLC (NASDAQ:NFE) Price Target at $10.17

New Fortress Energy LLC (NASDAQ:NFE) has received a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $10.17.

A number of equities analysts have weighed in on the company. Citigroup decreased their target price 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. Stifel Nicolaus decreased their target price on New Fortress Energy from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley set a $4.00 target price on New Fortress Energy and gave the stock an “equal weight” rating in a research report on Tuesday, May 27th. BTIG Research set a $8.00 target price on New Fortress Energy and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a research report on Wednesday, March 12th.

New Fortress Energy Price Performance

NFE opened at $2.28 on Monday. The stock has a 50-day moving average price of $3.95 and a 200-day moving average price of $9.02. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.94 and a quick ratio of 0.88. The firm has a market cap of $624.20 million, a PE ratio of -1.01 and a beta of 1.21. New Fortress Energy has a 1 year low of $2.01 and a 1 year high of $26.22.

Institutional Investors Weigh In On New Fortress Energy

A number of large investors have recently made changes to their positions in the company. Capital World Investors grew its stake in shares of New Fortress Energy by 87.9% during the 4th quarter. Capital World Investors now owns 19,925,022 shares of the company’s stock valued at $301,266,000 after purchasing an additional 9,319,985 shares during the period. William Blair Investment Management LLC grew its stake in shares of New Fortress Energy by 40.8% during the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock valued at $235,374,000 after purchasing an additional 4,509,177 shares during the period. Vanguard Group Inc. grew its stake in shares of New Fortress Energy by 22.6% during the 1st quarter. Vanguard Group Inc. now owns 13,879,490 shares of the company’s stock valued at $115,339,000 after purchasing an additional 2,560,242 shares during the period. Primecap Management Co. CA grew its stake in shares of New Fortress Energy by 13.6% during the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company’s stock valued at $198,027,000 after purchasing an additional 1,564,893 shares during the period. Finally, Hood River Capital Management LLC bought a new stake in shares of New Fortress Energy during the 4th quarter valued at about $155,023,000. 58.61% of the stock is currently owned by 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.