New Fortress Energy (NASDAQ:NFE) Shares Gap Up - Should You Buy?

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $2.15, but opened at $2.26. New Fortress Energy shares last traded at $2.43, with a volume of 6,027,087 shares changing hands.

Wall Street Analysts Forecast Growth

NFE has been the topic of several recent analyst reports. BTIG Research set a $8.00 target price on New Fortress Energy and gave the stock a "buy" rating in a research report on Thursday, May 15th. Stifel Nicolaus dropped their price objective on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley set a $4.00 price objective on New Fortress Energy and gave the stock an "equal weight" rating in a research report on Tuesday, May 27th. Citigroup decreased their target price 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. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $10.17.

New Fortress Energy Trading Up 7.7%

The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 4.00. The stock has a market cap of $633.78 million, a PE ratio of -1.04 and a beta of 1.21. The business has a 50 day moving average of $4.22 and a 200-day moving average of $9.28.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in shares of New Fortress Energy by 2,156.0% during the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company's stock valued at $32,000 after buying an additional 1,962 shares during the period. Quarry LP acquired a new position in New Fortress Energy in the 4th quarter valued at $64,000. US Bancorp DE lifted its stake in shares of New Fortress Energy by 31.5% during the 4th quarter. US Bancorp DE now owns 4,696 shares of the company's stock worth $71,000 after purchasing an additional 1,126 shares during the period. Ancora Advisors LLC acquired a new stake in shares of New Fortress Energy during the fourth quarter worth $91,000. Finally, CWM LLC boosted its holdings in shares of New Fortress Energy by 46.9% during the first quarter. CWM LLC now owns 9,065 shares of the company's stock worth $75,000 after purchasing an additional 2,895 shares during the last quarter. 58.61% of the stock is currently 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.

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