Compass Point Begins Coverage on New Fortress Energy (NASDAQ:NFE)

Analysts at Compass Point began coverage on shares of New Fortress Energy (NASDAQ:NFE - Get Free Report) in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage set a "buy" rating and a $8.50 price target on the stock. Compass Point's price target would indicate a potential upside of 110.66% from the company's current price.

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a research report on Wednesday, March 12th. BTIG Research downgraded shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a report on Thursday, June 26th. Stifel Nicolaus cut their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Citigroup decreased their price objective on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Morgan Stanley set a $4.00 target price on New Fortress Energy and gave the company an "equal weight" rating in a research report on Tuesday, May 27th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $9.75.

New Fortress Energy Stock Performance

NFE traded up $0.16 during trading on Tuesday, reaching $4.04. 9,558,111 shares of the company's stock were exchanged, compared to its average volume of 6,990,931. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.94 and a quick ratio of 0.88. New Fortress Energy has a 1 year low of $2.01 and a 1 year high of $26.22. The company's fifty day simple moving average is $3.67 and its 200-day simple moving average is $8.57. The stock has a market capitalization of $1.11 billion, a P/E ratio of -1.79 and a beta of 1.30.

Hedge Funds Weigh In On New Fortress Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hood River Capital Management LLC purchased a new stake in shares of New Fortress Energy during the fourth quarter worth approximately $155,023,000. Capital World Investors boosted its stake in New Fortress Energy by 87.9% during the 4th quarter. Capital World Investors now owns 19,925,022 shares of the company's stock worth $301,266,000 after purchasing an additional 9,319,985 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of New Fortress Energy by 40.8% during the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock worth $235,374,000 after buying an additional 4,509,177 shares in the last quarter. Vanguard Group Inc. raised its position in shares of New Fortress Energy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company's stock valued at $171,147,000 after buying an additional 2,728,191 shares during the last quarter. Finally, American Assets Investment Management LLC lifted its stake in shares of 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 worth $15,449,000 after buying an additional 1,671,094 shares in the last quarter. 58.61% of the stock is owned by hedge funds and other 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.