New Fortress Energy (NASDAQ:NFE) Shares Gap Up - Still a Buy?

Shares of New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $2.50, but opened at $3.00. New Fortress Energy shares last traded at $3.14, with a volume of 6,582,769 shares traded.

Analysts Set New Price Targets

NFE has been the subject of a number of research reports. BTIG Research downgraded New Fortress Energy from a "buy" rating to a "neutral" rating in a report on Thursday. 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. Morgan Stanley set a $4.00 price objective on shares of New Fortress Energy and gave the stock an "equal weight" rating in a research note on Tuesday, May 27th. Stifel Nicolaus decreased their target price on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a report on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, New Fortress Energy currently has a consensus rating of "Hold" and an average price target of $10.17.

New Fortress Energy Stock Up 33.4%

The company has a market cap of $913.02 million, a P/E ratio of -1.47 and a beta of 1.22. The stock has a 50-day moving average of $3.82 and a 200 day moving average of $8.81. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.94 and a quick ratio of 0.88.

Institutional Investors Weigh In On New Fortress Energy

A number of large investors have recently bought and sold shares of the company. Quarry LP bought a new stake in shares of New Fortress Energy during the 4th quarter worth approximately $64,000. US Bancorp DE raised its position in New Fortress Energy by 31.5% during the fourth quarter. US Bancorp DE now owns 4,696 shares of the company's stock valued at $71,000 after purchasing an additional 1,126 shares in the last quarter. CWM LLC raised its position in New Fortress Energy by 46.9% during the first quarter. CWM LLC now owns 9,065 shares of the company's stock valued at $75,000 after purchasing an additional 2,895 shares in the last quarter. Hardin Capital Partners LLC bought a new stake in New Fortress Energy during the first quarter worth $83,000. Finally, Chicago Partners Investment Group LLC bought a new stake in New Fortress Energy during the first quarter worth $84,000. 58.61% of the stock is currently owned by institutional investors and hedge funds.

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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