New Fortress Energy LLC (NASDAQ:NFE) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• New Fortress Energy LLC has received an average consensus rating of "Hold" from eight analysts, with five recommending hold and three recommending buy.
• The company's stock has a 12-month price objective averaging $7.8750 according to analysts.
• New Fortress Energy recently saw significant changes in institutional investment, with Osaic Holdings Inc. increasing its position by 244.7% in the second quarter.

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

A number of research analysts have commented on NFE shares. Compass Point started coverage on shares of New Fortress Energy in a research note on Tuesday, July 1st. They set a "buy" rating and a $8.50 price target for the company. BTIG Research cut shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a research note on Thursday, June 26th. New Street Research set a $8.50 target price on shares of New Fortress Energy in a research note on Monday, June 30th. Zacks Research upgraded shares of New Fortress Energy to a "hold" rating in a research note on Monday, August 11th. Finally, Morgan Stanley set a $4.00 target price on shares of New Fortress Energy and gave the company an "equal weight" rating in a research note on Tuesday, May 27th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. raised its stake in shares of New Fortress Energy by 244.7% in the second quarter. Osaic Holdings Inc. now owns 11,566 shares of the company's stock valued at $39,000 after acquiring an additional 8,211 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of New Fortress Energy in the second quarter valued at approximately $63,000. Headlands Technologies LLC bought a new position in New Fortress Energy in the 2nd quarter worth approximately $82,000. Tower Research Capital LLC TRC raised its position in New Fortress Energy by 2,661.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 43,826 shares of the company's stock worth $146,000 after purchasing an additional 42,239 shares during the last quarter. Finally, Shay Capital LLC raised its position in New Fortress Energy by 7,990.2% in the 2nd quarter. Shay Capital LLC now owns 1,525,000 shares of the company's stock worth $5,063,000 after purchasing an additional 1,506,150 shares during the last quarter. Institutional investors own 58.61% of the company's stock.

New Fortress Energy Price Performance

NFE traded up $0.04 during midday trading on Friday, reaching $1.36. 10,040,429 shares of the company's stock were exchanged, compared to its average volume of 10,421,598. The firm has a market capitalization of $372.91 million, a price-to-earnings ratio of -0.36 and a beta of 0.99. The company has a quick ratio of 0.95, a current ratio of 0.67 and a debt-to-equity ratio of 5.77. New Fortress Energy has a one year low of $1.26 and a one year high of $16.66. The business has a 50-day simple moving average of $2.98 and a two-hundred day simple moving average of $4.83.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its quarterly earnings results on Friday, September 5th. The company reported ($0.84) EPS for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.55). The business had revenue of $432.29 million for the quarter, compared to the consensus estimate of $480.47 million. New Fortress Energy had a negative return on equity of 22.72% and a negative net margin of 48.94%.The firm's revenue for the quarter was down 29.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.41) EPS. As a group, research analysts predict that New Fortress Energy will post 0.36 EPS 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.