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

Key Points

• New Fortress Energy LLC has received a consensus rating of "Hold" from analysts, with three sell recommendations, four holds, and three buys reported.
• Shares of New Fortress Energy have seen a 2.8% decline, closing at $1.72, and the company is facing significant financial challenges, evidenced by its negative net margin and high debt-to-equity ratio.
• Institutional ownership is substantial, with 58.61% of the stock held by hedge funds and investment companies, including Vanguard increasing its stake by 22.6% recently.

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) has been assigned a consensus recommendation of "Hold" from the ten research firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $7.8750.

Several equities analysts have issued reports on NFE shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of New Fortress Energy in a report on Tuesday, October 14th. Capital One Financial reaffirmed an "underweight" rating on shares of New Fortress Energy in a report on Monday, September 8th. Zacks Research downgraded shares of New Fortress Energy from a "hold" rating to a "strong sell" rating in a research report on Monday, October 6th. Compass Point assumed coverage on shares of New Fortress Energy in a research report on Tuesday, July 1st. They issued a "buy" rating and a $8.50 price objective for the company. Finally, Johnson Rice downgraded shares of 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.

Institutional Investors Weigh In On New Fortress Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of New Fortress Energy by 22.6% in the 1st 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. American Assets Investment Management LLC increased its holdings in New Fortress Energy by 888.8% in the first quarter. American Assets Investment Management LLC now owns 1,859,106 shares of the company's stock valued at $15,449,000 after buying an additional 1,671,094 shares in the last quarter. Norges Bank acquired a new position in New Fortress Energy during the second quarter worth about $5,278,000. Geode Capital Management LLC raised its position in 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 worth $12,159,000 after acquiring an additional 1,522,324 shares during the last quarter. Finally, Shay Capital LLC raised its position in shares of New Fortress Energy by 7,990.2% in the second quarter. Shay Capital LLC now owns 1,525,000 shares of the company's stock valued at $5,063,000 after buying an additional 1,506,150 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

New Fortress Energy Stock Down 2.8%

Shares of NASDAQ NFE opened at $1.72 on Friday. The company has a debt-to-equity ratio of 5.77, a current ratio of 0.67 and a quick ratio of 0.64. The company has a market cap of $489.43 million, a P/E ratio of -0.45 and a beta of 1.26. New Fortress Energy has a 1 year low of $1.26 and a 1 year high of $16.66. The firm has a 50-day simple moving average of $2.13 and a two-hundred day simple moving average of $3.28.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its quarterly earnings data on Wednesday, June 18th. The company reported $0.13 earnings per share (EPS) for the quarter. New Fortress Energy had a negative net margin of 48.94% and a negative return on equity of 22.72%. The business had revenue of $679.00 million during the quarter. Research analysts anticipate that New Fortress Energy will post 0.36 earnings per share for the current year.

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.

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