New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six ratings firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $10.17.
Several research firms have commented 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. Morgan Stanley set a $4.00 price target on New Fortress Energy and gave the company an "equal weight" rating in a research report on Tuesday. Citigroup cut their price objective on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a research note on Wednesday, March 12th. Finally, BTIG Research set a $8.00 price target on shares of New Fortress Energy and gave the company a "buy" rating in a research report on Thursday, May 15th.
Get Our Latest Stock Analysis on New Fortress Energy
New Fortress Energy Stock Down 6.8%
NASDAQ:NFE traded down $0.18 during trading hours on Thursday, hitting $2.47. 9,798,392 shares of the company traded hands, compared to its average volume of 6,003,035. 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 company has a market cap of $676.22 million, a PE ratio of 2.71 and a beta of 1.45. The firm's 50-day simple moving average is $5.48 and its 200-day simple moving average is $9.94. New Fortress Energy has a one year low of $2.26 and a one year high of $26.22.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating the consensus estimate 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 company had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. Equities analysts predict that New Fortress Energy will post 0.36 earnings per share for the current year.
Insider Activity
In other New Fortress Energy news, CFO Christopher S. Guinta acquired 5,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 29.40% of the stock is owned by company insiders.
Hedge Funds Weigh In On New Fortress Energy
Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of New Fortress Energy during the fourth quarter worth about $125,000. Janney Montgomery Scott LLC bought a new stake in New Fortress Energy during the fourth quarter valued at approximately $533,000. KBC Group NV grew its stake in New Fortress Energy by 121.1% in the 4th quarter. KBC Group NV now owns 7,596 shares of the company's stock worth $115,000 after buying an additional 4,160 shares in the last quarter. Redwood Wealth Management Group LLC bought a new position in shares of New Fortress Energy in the 4th quarter worth $749,000. Finally, Golden State Wealth Management LLC bought a new position in shares of New Fortress Energy in the 4th quarter worth $118,000. 58.61% of the stock is currently owned by institutional investors.
About New Fortress Energy
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Get Free ReportNew 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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