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

Key Points

• New Fortress Energy (NASDAQ:NFE) shares gapped up from $2.46 to $2.65 at market open, with a last trading value of $2.42 and a volume of 7,019,688 shares.
• Analysts have set an average price target of $7.88 for the stock, with a mix of ratings including three "Buy," five "Hold," and two "Sell" recommendations.
• The company reported a loss of $2.02 per share for the last quarter, missing estimates, and experienced a 29.5% decline in quarterly revenue compared to the previous year.

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $2.46, but opened at $2.65. New Fortress Energy shares last traded at $2.42, with a volume of 7,019,688 shares.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NFE shares. New Street Research set a $8.50 price target on New Fortress Energy in a report on Monday, June 30th. Weiss Ratings reiterated a "sell (d)" rating on shares of New Fortress Energy in a research note on Saturday, September 27th. BTIG Research lowered shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a research report on Thursday, June 26th. Compass Point assumed coverage on shares of New Fortress Energy in a report on Tuesday, July 1st. They issued a "buy" rating and a $8.50 target price on the stock. Finally, Zacks Research raised New Fortress Energy to a "hold" rating in a report on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, New Fortress Energy has an average rating of "Hold" and an average price target of $7.88.

New Fortress Energy Trading Down 0.2%

The business has a 50 day simple moving average of $2.41 and a two-hundred day simple moving average of $3.92. The company has a market cap of $698.57 million, a PE ratio of -0.64 and a beta of 1.26. The company has a current ratio of 0.67, a quick ratio of 0.64 and a debt-to-equity ratio of 5.77.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its quarterly earnings data on Saturday, September 13th. The company reported ($2.02) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($1.38). New Fortress Energy had a negative return on equity of 22.72% and a negative net margin of 48.94%.The business's quarterly revenue was down 29.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.41) EPS. On average, analysts forecast that New Fortress Energy LLC will post 0.36 EPS for the current fiscal year.

Institutional Trading of New Fortress Energy

A number of hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System increased its stake in New Fortress Energy by 58.4% during the 4th quarter. California State Teachers Retirement System now owns 92,604 shares of the company's stock worth $1,400,000 after buying an additional 34,142 shares during the period. GAMMA Investing LLC increased its stake in New Fortress Energy by 343.8% during the first quarter. GAMMA Investing LLC now owns 17,601 shares of the company's stock valued at $146,000 after purchasing an additional 13,635 shares during the last quarter. Rhumbline Advisers increased its stake in New Fortress Energy by 3.7% during the first quarter. Rhumbline Advisers now owns 101,283 shares of the company's stock valued at $842,000 after purchasing an additional 3,653 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of New Fortress Energy by 43.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 325,760 shares of the company's stock valued at $2,707,000 after buying an additional 98,248 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its position in shares of New Fortress Energy by 101.9% during the 1st quarter. Golden State Wealth Management LLC now owns 15,751 shares of the company's stock valued at $131,000 after buying an additional 7,951 shares during the last quarter. Hedge funds and other institutional investors own 58.61% of the company's stock.

New Fortress Energy Company Profile

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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