New Fortress Energy LLC (NASDAQ:NFE) Receives $8.43 Average Price Target from Brokerages

Key Points

• New Fortress Energy LLC (NASDAQ:NFE) has received an average rating of "Moderate Buy" from six brokerages, with three recommending a hold and three a buy.
• The average one-year price target among analysts covering the stock is $8.4286, with individual targets ranging from $4.00 to $16.00.
• Institutional investors currently hold 58.61% of New Fortress Energy's stock, indicating significant interest and recent investment activity in the company.

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) has received a consensus recommendation of "Hold" from the eight research firms that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $7.8750.

Several research firms recently issued reports on NFE. Stifel Nicolaus cut their target price on 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. Zacks Research raised shares of New Fortress Energy to a "hold" rating in a research note on Monday. BTIG Research downgraded shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a research note on Thursday, June 26th. Johnson Rice downgraded shares of New Fortress Energy from a "buy" rating to a "hold" rating and decreased their price target for the stock from $7.00 to $4.00 in a research note on Wednesday. Finally, Morgan Stanley set a $4.00 price target on shares of New Fortress Energy and gave the stock an "equal weight" rating in a research note on Tuesday, May 27th.

Hedge Funds Weigh In On New Fortress Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors grew its holdings in shares of New Fortress Energy by 87.9% during the fourth quarter. Capital World Investors now owns 19,925,022 shares of the company's stock valued at $301,266,000 after buying an additional 9,319,985 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of New Fortress Energy by 22.6% during the first quarter. Vanguard Group Inc. now owns 13,879,490 shares of the company's stock valued at $115,339,000 after buying an additional 2,560,242 shares during the last quarter. Primecap Management Co. CA grew its holdings in shares of New Fortress Energy by 0.7% during the second quarter. Primecap Management Co. CA now owns 13,132,578 shares of the company's stock valued at $43,600,000 after buying an additional 90,180 shares during the last quarter. Hood River Capital Management LLC purchased a new stake in shares of New Fortress Energy during the fourth quarter valued at approximately $155,023,000. Finally, Geode Capital Management LLC grew its holdings in shares of New Fortress Energy by 71.2% during the second quarter. Geode Capital Management LLC now owns 3,661,857 shares of the company's stock valued at $12,159,000 after buying an additional 1,522,324 shares during the last quarter. Institutional investors own 58.61% of the company's stock.

New Fortress Energy Trading Down 3.1%

NASDAQ NFE traded down $0.08 during trading on Tuesday, hitting $2.32. 749,567 shares of the company's stock traded hands, compared to its average volume of 9,116,623. The stock has a fifty day moving average of $3.20 and a two-hundred day moving average of $6.31. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.00 and a quick ratio of 0.95. New Fortress Energy has a 12-month low of $2.01 and a 12-month high of $16.66. The firm has a market cap of $634.77 million, a P/E ratio of -1.03 and a beta of 1.08.

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.