New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $3.06, but opened at $2.82. New Fortress Energy shares last traded at $2.65, with a volume of 4,527,034 shares trading hands.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on NFE. Morgan Stanley lowered their price objective on New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a research note on Wednesday, March 12th. Citigroup lowered their price target on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. 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. Finally, BTIG Research set a $8.00 price objective on shares of New Fortress Energy and gave the company a "buy" rating in a research note on Thursday, May 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, New Fortress Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.83.
Get Our Latest Stock Analysis on New Fortress Energy
New Fortress Energy Stock Down 1.1%
The stock has a fifty day simple moving average of $6.33 and a two-hundred day simple moving average of $10.18. The firm has a market cap of $761.09 million, a PE ratio of 3.05 and a beta of 1.45. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.07. The company had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. As a group, sell-side analysts expect that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CFO Christopher S. Guinta purchased 5,000 shares of the business's stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $8.57 per share, with a total value of $42,850.00. Following the purchase, the chief financial officer now directly owns 206,653 shares in the company, valued at approximately $1,771,016.21. This represents a 2.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 29.40% of the company's stock.
Hedge Funds Weigh In On New Fortress Energy
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP lifted its position in New Fortress Energy by 2,156.0% in 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 purchased a new position in shares of New Fortress Energy in the fourth quarter worth $64,000. US Bancorp DE increased its stake in shares of New Fortress Energy by 31.5% in the fourth quarter. US Bancorp DE now owns 4,696 shares of the company's stock worth $71,000 after buying an additional 1,126 shares during the period. CWM LLC raised its holdings in New Fortress Energy by 46.9% during the 1st quarter. CWM LLC now owns 9,065 shares of the company's stock valued at $75,000 after buying an additional 2,895 shares during the last quarter. Finally, Hardin Capital Partners LLC purchased a new stake in New Fortress Energy during the 1st quarter valued at $83,000. 58.61% of the stock is currently owned by institutional investors.
New Fortress Energy Company Profile
(
Get Free Report)
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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