New Fortress Energy (NASDAQ:NFE) Given Sell (D-) Rating at Weiss Ratings

Key Points

• New Fortress Energy received a "sell (D-)" rating from Weiss Ratings, highlighting concerns about the company's performance.
• In addition to Weiss, other analysts have varied opinions on the stock, with ratings ranging from "buy" to "strong sell," leading to a consensus rating of "hold" and an average price target of $7.88.
• The company's stock is currently trading around $1.98, significantly lower than its 1-year high of $16.66, indicating volatility and potential investor risk.

New Fortress Energy (NASDAQ:NFE - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities research analysts at Weiss Ratings in a research report issued on Tuesday,Weiss Ratings reports.

Other analysts have also recently issued research reports about the stock. Compass Point assumed coverage on shares of New Fortress Energy in a research note on Tuesday, July 1st. They issued a "buy" rating and a $8.50 price objective for the company. Zacks Research cut shares of New Fortress Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, October 6th. BTIG Research cut shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a research note on Thursday, June 26th. Capital One Financial reissued an "underweight" rating on shares of New Fortress Energy in a report on Monday, September 8th. Finally, Johnson Rice lowered shares of New Fortress Energy from a "buy" rating to a "hold" rating and decreased their target price for the company from $7.00 to $4.00 in a report on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $7.88.

New Fortress Energy Stock Performance

New Fortress Energy stock traded up $0.08 during midday trading on Tuesday, hitting $1.98. The company's stock had a trading volume of 4,792,838 shares, compared to its average volume of 11,411,108. New Fortress Energy has a 1-year low of $1.26 and a 1-year high of $16.66. 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 50-day moving average price of $2.28 and a two-hundred day moving average price of $3.56. The company has a market cap of $564.55 million, a price-to-earnings ratio of -0.52 and a beta of 1.26.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last issued its quarterly earnings data on Wednesday, June 18th. The company reported $0.13 earnings per share 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. As a group, sell-side analysts predict that New Fortress Energy will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On New Fortress Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in New Fortress Energy by 22.6% during the 1st quarter. Vanguard Group Inc. now owns 13,879,490 shares of the company's stock worth $115,339,000 after acquiring an additional 2,560,242 shares during the last quarter. American Assets Investment Management LLC grew its holdings in New Fortress Energy by 888.8% during the 1st quarter. American Assets Investment Management LLC now owns 1,859,106 shares of the company's stock worth $15,449,000 after acquiring an additional 1,671,094 shares during the last quarter. Norges Bank bought a new stake in New Fortress Energy during the 2nd quarter worth approximately $5,278,000. Geode Capital Management LLC grew its holdings in New Fortress Energy by 71.2% during the 2nd 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 lifted its position in shares of 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 period. 58.61% of the stock is owned by institutional investors.

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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