New Fortress Energy LLC (NASDAQ:NFE) Given Consensus Rating of "Hold" by Analysts

Key Points

• New Fortress Energy LLC has received a consensus rating of "Hold" from analysts, with one sell rating, five holds, and three buy ratings amongst the nine firms covering the stock.
• The company reported a loss of $2.02 per share in its latest quarterly earnings, missing analysts' expectations and reflecting a year-over-year revenue decline of 29.5%.
• Goldman Sachs increased its stake in New Fortress Energy by 133.4% in the first quarter, showcasing significant institutional interest despite the company's recent struggles.

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) has earned a consensus recommendation of "Hold" from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $7.8750.

A number of brokerages have weighed in on NFE. Johnson Rice cut New Fortress Energy from a "buy" rating to a "hold" rating and reduced their price target for the stock from $7.00 to $4.00 in a research report on Wednesday, August 13th. Compass Point initiated coverage on New Fortress Energy in a research report on Tuesday, July 1st. They set a "buy" rating and a $8.50 target price for the company. Capital One Financial reiterated an "underweight" rating on shares of New Fortress Energy in a report on Monday, September 8th. BTIG Research cut shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a research note on Thursday, June 26th. Finally, New Street Research set a $8.50 price objective on shares of New Fortress Energy in a report on Monday, June 30th.

Hedge Funds Weigh In On New Fortress Energy

Institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake in shares of New Fortress Energy by 133.4% in the first quarter. Goldman Sachs Group Inc. now owns 865,826 shares of the company's stock worth $7,195,000 after purchasing an additional 494,848 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in New Fortress Energy by 14.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,679,057 shares of the company's stock worth $13,953,000 after buying an additional 208,225 shares during the period. Deutsche Bank AG increased its position in New Fortress Energy by 118.5% in the 1st quarter. Deutsche Bank AG now owns 186,180 shares of the company's stock worth $1,547,000 after buying an additional 100,974 shares during the period. Nuveen LLC bought a new position in New Fortress Energy during the first quarter worth $2,692,000. Finally, Jump Financial LLC bought a new position in New Fortress Energy during the first quarter worth $9,492,000. 58.61% of the stock is currently owned by institutional investors.

New Fortress Energy Price Performance

NASDAQ NFE opened at $2.21 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 5.77. The stock has a market capitalization of $628.86 million, a PE ratio of -0.58 and a beta of 0.99. New Fortress Energy has a 12-month low of $1.26 and a 12-month high of $16.66. The company has a 50 day moving average price of $2.50 and a two-hundred day moving average price of $4.12.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its quarterly earnings results on Saturday, September 13th. The company reported ($2.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.64) by ($1.38). New Fortress Energy had a negative net margin of 48.94% and a negative return on equity of 22.72%. The company's revenue for the quarter was down 29.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.41) EPS. As a group, equities analysts predict that New Fortress Energy will post 0.36 earnings per share for the current fiscal year.

About New Fortress Energy

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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