New Fortress Energy (NASDAQ:NFE - Get Free Report) received a $4.00 target price from Morgan Stanley in a report issued on Tuesday, MarketBeat reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price objective suggests a potential upside of 50.94% from the stock's current price.
Several other equities research analysts also recently issued reports on NFE. Stifel Nicolaus decreased their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Citigroup reduced their target price on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a report on Wednesday, March 12th. Finally, BTIG Research set a $8.00 price objective on New Fortress Energy and gave the stock a "buy" rating in a research note on Thursday, May 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $10.17.
Read Our Latest Research Report on NFE
New Fortress Energy Trading Down 6.4%
Shares of NFE traded down $0.18 during mid-day trading on Tuesday, hitting $2.65. The company had a trading volume of 8,092,391 shares, compared to its average volume of 5,969,383. New Fortress Energy has a 1-year low of $2.26 and a 1-year high of $26.22. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The business's 50-day simple moving average is $5.67 and its 200-day simple moving average is $9.99. The stock has a market cap of $725.50 million, a PE ratio of 2.91 and a beta of 1.45.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.07. The business had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. Sell-side analysts forecast that New Fortress Energy will post 0.36 earnings per share for the current year.
Insider Transactions at New Fortress Energy
In other news, CFO Christopher S. Guinta acquired 5,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $8.57 per share, with a total value of $42,850.00. Following the purchase, the chief financial officer now owns 206,653 shares of the company's stock, valued at approximately $1,771,016.21. This represents a 2.48% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 29.40% of the company's stock.
Institutional Trading of New Fortress Energy
A number of hedge funds and other institutional investors have recently made changes to their positions in NFE. Allworth Financial LP lifted its position in shares of New Fortress Energy by 2,156.0% during the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company's stock valued at $32,000 after acquiring an additional 1,962 shares during the last quarter. Quarry LP acquired a new position in New Fortress Energy during the fourth quarter valued at $64,000. US Bancorp DE lifted its stake in New Fortress Energy by 31.5% in the 4th quarter. US Bancorp DE now owns 4,696 shares of the company's stock worth $71,000 after acquiring an additional 1,126 shares in the last quarter. Ancora Advisors LLC acquired a new stake in New Fortress Energy during the 4th quarter worth about $91,000. Finally, KBC Group NV grew its stake in New Fortress Energy by 121.1% during the 4th quarter. KBC Group NV now owns 7,596 shares of the company's stock valued at $115,000 after acquiring an additional 4,160 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors.
About New Fortress Energy
(
Get Free Report)
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.
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