New Fortress Energy (NASDAQ:NFE) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Wall Street Zen upgraded New Fortress Energy to “Hold,” but Weiss Ratings maintained a “Sell (e+)” rating. With one Hold and one Sell recommendation, MarketBeat reports an average rating of “Reduce.”
• New Fortress Energy opened at $12.22, near its 12-month low of $11.25 and well below its 12-month high of $154.00. The company reported a quarterly loss of $1.30 per share on revenue of $312.5 million, while analysts project a full-year loss of $59.50 per share.
• Institutional investors own 58.61% of the company, with several funds initiating positions or increasing holdings during recent quarters, including Lazard Asset Management.

New Fortress Energy (NASDAQ:NFE - Get Free Report) was upgraded by investment analysts at Wall Street Zen to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of New Fortress Energy in a research report on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce".

New Fortress Energy Price Performance

Shares of NFE opened at $12.22 on Friday. The firm has a market capitalization of $69.78 million, a price-to-earnings ratio of -4.53 and a beta of 1.35. The firm's fifty day simple moving average is $15.20 and its 200-day simple moving average is $26.52. New Fortress Energy has a twelve month low of $11.25 and a twelve month high of $154.00. The company has a current ratio of 0.16, a quick ratio of 0.15 and a debt-to-equity ratio of 3.57.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($1.30) EPS for the quarter, topping analysts' consensus estimates of ($10.50) by $9.20. The firm had revenue of $312.50 million during the quarter, compared to the consensus estimate of $511.60 million. New Fortress Energy had a negative net margin of 149.40% and a negative return on equity of 795.34%. Equities analysts forecast that New Fortress Energy will post -59.5 EPS for the current fiscal year.

Institutional Investors Weigh In On New Fortress Energy

A number of hedge funds have recently added to or reduced their stakes in the company. NINE MASTS CAPITAL Ltd purchased a new position in shares of New Fortress Energy during the 2nd quarter worth approximately $304,000. Primecap Management Co. CA purchased a new stake in shares of New Fortress Energy in the second quarter valued at approximately $33,000. X Square Capital LLC purchased a new stake in shares of New Fortress Energy in the second quarter valued at approximately $33,000. Bank of New York Mellon Corp acquired a new position in New Fortress Energy during the second quarter worth $59,000. Finally, Lazard Asset Management LLC grew its holdings in New Fortress Energy by 1,765.5% during the first quarter. Lazard Asset Management LLC now owns 1,614,029 shares of the company's stock worth $952,000 after acquiring an additional 1,527,509 shares during the period. Institutional investors and hedge funds own 58.61% of the company's stock.

About New Fortress Energy

New Fortress Energy Inc NASDAQ: NFE is an energy infrastructure company that develops, owns and operates natural gas and liquefied natural gas (LNG) facilities. Its activities span the LNG value chain, including natural gas procurement, liquefaction, transportation, storage, regasification and delivery to customers.

The company provides LNG and natural gas through a network of terminals, pipelines, floating storage and regasification units, and related infrastructure. It also develops and operates gas-fired power generation facilities, supplying electricity and fuel to utilities, commercial and industrial customers, and other users seeking alternatives to more carbon-intensive energy sources.

Founded in 2014, New Fortress Energy has developed projects in the United States, the Caribbean and Latin America, including infrastructure serving markets such as Puerto Rico, Jamaica, Mexico and Brazil.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.