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

Shares of New Fortress Energy LLC (NASDAQ:NFE) have been assigned an average recommendation of “Reduce” from the six brokerages that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $7.00.

Separately, Wall Street Zen lowered New Fortress Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th.

New Fortress Energy Price Performance

NFE opened at $0.50 on Monday. The company has a quick ratio of 0.11, a current ratio of 0.13 and a debt-to-equity ratio of 3.57. The firm has a market cap of $143.79 million, a P/E ratio of -0.22 and a beta of 1.28. New Fortress Energy has a 52 week low of $0.50 and a 52 week high of $4.96. The business’s fifty day simple moving average is $0.64 and its 200 day simple moving average is $1.02.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($1.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.21). The company had revenue of $226.95 million for the quarter, compared to analyst estimates of $508.60 million. New Fortress Energy had a negative net margin of 164.16% and a negative return on equity of 253.73%. As a group, equities research analysts anticipate that New Fortress Energy will post -1.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Long Focus Capital Management LLC increased its stake in shares of New Fortress Energy by 43.7% during the 3rd quarter. Long Focus Capital Management LLC now owns 7,400,000 shares of the company’s stock valued at $16,354,000 after acquiring an additional 2,250,000 shares during the last quarter. UBS Group AG increased its stake in shares of New Fortress Energy by 131.9% during the 4th quarter. UBS Group AG now owns 2,220,203 shares of the company’s stock valued at $2,531,000 after acquiring an additional 1,262,862 shares during the last quarter. Deltroit Asset Management UK LLP acquired a new position in shares of New Fortress Energy during the 4th quarter valued at about $2,052,000. Fiduciary Alliance LLC purchased a new position in shares of New Fortress Energy in the 4th quarter worth about $34,000. Finally, 180 Wealth Advisors LLC raised its holdings in shares of New Fortress Energy by 55.8% in the 4th quarter. 180 Wealth Advisors LLC now owns 98,016 shares of the company’s stock worth $112,000 after purchasing an additional 35,108 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Company Profile

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.