New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) shares gapped down prior to trading 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 traded.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on NFE. Stifel Nicolaus dropped their price target on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley lowered their target price on New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a research report on Wednesday, March 12th. Citigroup lowered their price target on 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. Finally, BTIG Research set a $8.00 target price on New Fortress Energy and gave the company a "buy" rating in a research report on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $11.83.
Check Out Our Latest Analysis on NFE
New Fortress Energy Stock Performance
The stock has a market capitalization of $718.65 million, a price-to-earnings ratio of 2.88 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. The firm's fifty day moving average price is $6.75 and its 200 day moving average price is $10.31.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last issued its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.07. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The company had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. Analysts forecast that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.
Insider Transactions at New Fortress Energy
In other news, CFO Christopher S. Guinta bought 5,000 shares of New Fortress Energy stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of the transaction, the chief financial officer now owns 206,653 shares in the company, valued at approximately $1,771,016.21. This trade represents a 2.48% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 29.40% of the company's stock.
Institutional Trading of New Fortress Energy
Several institutional investors have recently added to or reduced their stakes in NFE. JPMorgan Chase & Co. lifted its stake in New Fortress Energy by 2.0% during the fourth quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company's stock valued at $730,000 after purchasing an additional 935 shares during the last quarter. US Bancorp DE lifted its position in New Fortress Energy by 31.5% in the 4th quarter. US Bancorp DE now owns 4,696 shares of the company's stock worth $71,000 after buying an additional 1,126 shares in the last quarter. Allworth Financial LP lifted its position in New Fortress Energy by 2,156.0% in the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company's stock worth $32,000 after buying an additional 1,962 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of New Fortress Energy by 11.2% during the 1st quarter. Victory Capital Management Inc. now owns 21,474 shares of the company's stock worth $178,000 after purchasing an additional 2,157 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in New Fortress Energy by 3.0% in the 4th quarter. Deutsche Bank AG now owns 85,206 shares of the company's stock valued at $1,288,000 after buying an additional 2,463 shares during the last quarter. Institutional investors own 58.61% of the company's stock.
About New Fortress Energy
(
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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