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

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report)'s share price 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 trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. BTIG Research set a $8.00 target price on New Fortress Energy and gave the company a "buy" rating in a research note on Thursday, May 15th. Morgan Stanley set a $4.00 price objective on shares of New Fortress Energy and gave the company an "equal weight" rating in a report on Tuesday, May 27th. Citigroup cut their price objective 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 decreased their target price on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a research note on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.17.

New Fortress Energy Trading Down 8.5%

The company has a market cap of $558.49 million, a P/E ratio of -0.91 and a beta of 1.21. 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 business has a 50 day moving average price of $4.14 and a 200-day moving average price of $9.18.

Institutional Investors Weigh In On New Fortress Energy

A number of institutional investors and hedge funds have recently modified their holdings of NFE. Allworth Financial LP boosted its position in New Fortress Energy by 2,156.0% during the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company's stock worth $32,000 after purchasing an additional 1,962 shares during the period. Quarry LP acquired a new stake in shares of New Fortress Energy during the 4th quarter worth about $64,000. US Bancorp DE boosted its holdings 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 buying an additional 1,126 shares during the period. CWM LLC grew its stake in New Fortress Energy by 46.9% in 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 bought a new position in New Fortress Energy in the 1st quarter valued at about $83,000. 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.