New Fortress Energy LLC (NASDAQ:NFE) Receives Average Rating of "Moderate Buy" from Analysts

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $10.17.

NFE has been the subject of a number of analyst reports. Morgan Stanley set a $4.00 price objective on shares of New Fortress Energy and gave the company an "equal weight" rating in a report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a report on Wednesday, March 12th. Stifel Nicolaus cut their price target on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. BTIG Research set a $8.00 price objective on New Fortress Energy and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Citigroup decreased their price objective on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, April 9th.

New Fortress Energy Trading Up 3.7%

Shares of NASDAQ NFE opened at $2.23 on Monday. New Fortress Energy has a fifty-two week low of $2.01 and a fifty-two week high of $26.22. The firm has a market capitalization of $610.51 million, a P/E ratio of -0.99 and a beta of 1.22. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.94 and a quick ratio of 0.88. The company's 50 day simple moving average is $4.14 and its 200 day simple moving average is $9.18.

Institutional Trading of New Fortress Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP boosted its position in New Fortress Energy by 2,156.0% during the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company's stock valued at $32,000 after purchasing an additional 1,962 shares during the last quarter. Quarry LP bought a new stake in shares of New Fortress Energy during the 4th quarter worth approximately $64,000. US Bancorp DE boosted its holdings in shares of New Fortress Energy by 31.5% in the 4th quarter. US Bancorp DE now owns 4,696 shares of the company's stock valued at $71,000 after buying an additional 1,126 shares during the last quarter. Ancora Advisors LLC bought a new position in shares of New Fortress Energy in the fourth quarter valued at $91,000. Finally, CWM LLC increased its holdings in New Fortress Energy by 46.9% during the first quarter. CWM LLC now owns 9,065 shares of the company's stock worth $75,000 after buying an additional 2,895 shares during the last quarter. Institutional investors and hedge funds own 58.61% of the company's stock.

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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