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

Shares of New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) gapped up prior to trading 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 changing hands.

Analyst Ratings Changes

NFE has been the subject of a number of recent analyst reports. New Street Research set a $8.50 price objective on New Fortress Energy in a research note on Monday. Citigroup lowered their price target on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a research note on Wednesday, March 12th. Morgan Stanley set a $4.00 price target on New Fortress Energy and gave the stock an "equal weight" rating in a research report on Tuesday, May 27th. Finally, Stifel Nicolaus decreased their price target 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, New Fortress Energy currently has a consensus rating of "Hold" and a consensus target price of $9.75.

New Fortress Energy Stock Up 4.0%

The company's 50-day moving average is $3.70 and its 200 day moving average is $8.62. The stock has a market capitalization of $1.11 billion, a PE ratio of -1.79 and a beta of 1.30. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 4.00.

Institutional Investors Weigh In On New Fortress Energy

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hood River Capital Management LLC acquired a new position in shares of New Fortress Energy in the 4th quarter valued at $155,023,000. Capital World Investors grew its stake in New Fortress Energy by 87.9% during the 4th quarter. Capital World Investors now owns 19,925,022 shares of the company's stock valued at $301,266,000 after purchasing an additional 9,319,985 shares during the last quarter. William Blair Investment Management LLC increased its holdings in shares of New Fortress Energy by 40.8% in the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock valued at $235,374,000 after purchasing an additional 4,509,177 shares during the period. Vanguard Group Inc. raised its stake in shares of New Fortress Energy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company's stock worth $171,147,000 after purchasing an additional 2,728,191 shares during the last quarter. Finally, American Assets Investment Management LLC lifted its holdings in shares of New Fortress Energy by 888.8% during the first quarter. American Assets Investment Management LLC now owns 1,859,106 shares of the company's stock worth $15,449,000 after purchasing an additional 1,671,094 shares during the period. 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.