New Fortress Energy (NASDAQ:NFE) Shares Gap Up - Time to Buy?

Key Points

• Shares of New Fortress Energy gapped up, opening at $1.81 after a prior close of $1.70 and last trading around $1.7850 on volume of about 3.85 million shares.
• The company posted a sharp earnings miss—($1.07) EPS vs. a consensus of ($0.67) and revenue of $327.4M versus an expected $716.9M, with revenue down 42.3% year‑over‑year and negative margins and ROE.
• Analyst coverage is mixed (three Buy, three Hold, three Sell) resulting in a consensus rating of Hold and a consensus price target of $7.88, while some firms have issued sell/strong‑sell opinions.

Shares of New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $1.70, but opened at $1.81. New Fortress Energy shares last traded at $1.7850, with a volume of 3,852,305 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of New Fortress Energy in a report on Monday, December 29th. Zacks Research lowered New Fortress Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, New Fortress Energy currently has an average rating of "Hold" and a consensus price target of $7.88.

New Fortress Energy Stock Up 9.1%

The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.08. The firm's fifty day moving average is $1.26 and its 200-day moving average is $2.02. The stock has a market capitalization of $527.84 million, a PE ratio of -0.48 and a beta of 1.05.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its quarterly earnings results on Thursday, January 1st. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.40). New Fortress Energy had a negative return on equity of 43.91% and a negative net margin of 72.92%.The firm had revenue of $327.37 million for the quarter, compared to analyst estimates of $716.89 million. During the same period last year, the firm earned $0.03 EPS. The company's quarterly revenue was down 42.3% compared to the same quarter last year. On average, equities research analysts predict that New Fortress Energy LLC will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On New Fortress Energy

A number of institutional investors have recently made changes to their positions in NFE. Wealth Enhancement Advisory Services LLC bought a new position in New Fortress Energy in the fourth quarter worth about $26,000. Savant Capital LLC acquired a new stake in shares of New Fortress Energy during the 3rd quarter worth approximately $28,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of New Fortress Energy during the 3rd quarter worth approximately $29,000. IFP Advisors Inc boosted its position in New Fortress Energy by 166.3% during the 2nd quarter. IFP Advisors Inc now owns 9,072 shares of the company's stock valued at $30,000 after purchasing an additional 5,665 shares during the period. Finally, one8zero8 LLC bought a new position in New Fortress Energy during the 3rd quarter worth $31,000. 58.61% of the stock is currently owned by institutional investors.

About New Fortress Energy

New Fortress Energy is an integrated global energy infrastructure company focused on the development, construction and operation of natural gas-to-power projects and liquefied natural gas (LNG) terminals. The company sources LNG and delivers it via a network of floating storage and regasification units (FSRUs), onshore regasification terminals, and small-scale LNG carriers. By providing reliable natural gas supply solutions, New Fortress Energy aims to displace higher-carbon fuels in power generation, industrial and marine sectors.

The company's core activities include the design, development and operation of FSRUs and onshore regasification terminals that convert cryogenic LNG back to gas for delivery into domestic transmission networks.

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