New Fortress Energy (NASDAQ:NFE) Given a $4.00 Price Target by Morgan Stanley Analysts

New Fortress Energy (NASDAQ:NFE - Get Free Report) has been assigned a $4.00 price objective by equities research analysts at Morgan Stanley in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's target price suggests a potential upside of 61.94% from the stock's previous close.

Other research analysts also recently issued reports about the stock. Citigroup reduced their price objective on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Stifel Nicolaus reduced their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. BTIG Research set a $8.00 price target on shares of 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 price target on shares of New Fortress Energy in a report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $10.17.

New Fortress Energy Stock Down 6.8%

Shares of NFE stock traded down $0.18 on Tuesday, hitting $2.47. The stock had a trading volume of 9,798,392 shares, compared to its average volume of 6,003,035. The firm has a market capitalization of $676.22 million, a price-to-earnings ratio of 2.71 and a beta of 1.45. The stock's 50 day moving average is $5.48 and its 200-day moving average is $9.94. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. New Fortress Energy has a 52-week low of $2.26 and a 52-week high of $26.22.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.07. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The firm had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. As a group, research analysts expect that New Fortress Energy will post 0.36 earnings per share for the current year.

Insider Activity

In other news, CFO Christopher S. Guinta acquired 5,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $8.57 per share, with a total value of $42,850.00. Following the acquisition, the chief financial officer now directly owns 206,653 shares in the company, valued at approximately $1,771,016.21. The trade was a 2.48% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 29.40% of the company's stock.

Hedge Funds Weigh In On New Fortress Energy

Several large investors have recently bought and sold shares of the stock. Allworth Financial LP grew its stake in shares of New Fortress Energy by 2,156.0% in the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company's stock worth $32,000 after purchasing an additional 1,962 shares during the last quarter. Quarry LP acquired a new position in shares of New Fortress Energy in the 4th quarter worth approximately $64,000. US Bancorp DE increased its position in shares of New Fortress Energy by 31.5% in the fourth 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 purchased a new position in shares of New Fortress Energy in the fourth quarter worth approximately $91,000. Finally, KBC Group NV increased its position in shares of New Fortress Energy by 121.1% in the fourth quarter. KBC Group NV now owns 7,596 shares of the company's stock worth $115,000 after acquiring an additional 4,160 shares in the last quarter. Institutional investors and hedge funds own 58.61% of the company's stock.

New Fortress Energy Company Profile

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.