New Fortress Energy (NASDAQ:NFE) Trading Up 5.3% - Should You Buy?

Key Points

• New Fortress Energy's share price increased by 5.3%, reaching $2.88, despite trading volume falling significantly to 991,390 shares.
• Analysts have mixed views on the stock, with BTIG downgrading it to "neutral," while Compass Point set a target price of $8.50 and rated it as "buy."
• 58.61% of New Fortress Energy's stock is owned by institutional investors, indicating notable interest and investment from large financial entities.

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) shares traded up 5.3% on Friday . The stock traded as high as $2.79 and last traded at $2.88. 991,390 shares were traded during mid-day trading, a decline of 89% from the average session volume of 9,118,364 shares. The stock had previously closed at $2.73.

Analyst Ratings Changes

NFE has been the topic of several analyst reports. BTIG Research downgraded New Fortress Energy from a "buy" rating to a "neutral" rating in a report on Thursday, June 26th. 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 report on Wednesday, April 9th. Stifel Nicolaus cut their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Compass Point began coverage on shares of New Fortress Energy in a research note on Tuesday, July 1st. They set a "buy" rating and a $8.50 target price on the stock. Finally, Morgan Stanley set a $4.00 target price on shares of New Fortress Energy and gave the company an "equal weight" rating in a research note on Tuesday, May 27th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, New Fortress Energy has an average rating of "Hold" and a consensus target price of $9.75.

New Fortress Energy Trading Up 7.2%

The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of 4.77. The company has a fifty day simple moving average of $3.20 and a 200-day simple moving average of $6.90. The company has a market capitalization of $878.81 million, a PE ratio of -1.42 and a beta of 1.08.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. MQS Management LLC purchased a new stake in shares of New Fortress Energy in the second quarter valued at approximately $33,000. Catalyst Capital Advisors LLC boosted its stake in shares of New Fortress Energy by 38.5% in the second quarter. Catalyst Capital Advisors LLC now owns 1,258,485 shares of the company's stock valued at $4,178,000 after buying an additional 350,000 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of New Fortress Energy by 5,488.4% in the second quarter. Caitong International Asset Management Co. Ltd now owns 137,530 shares of the company's stock valued at $457,000 after buying an additional 135,069 shares in the last quarter. R Squared Ltd purchased a new stake in shares of New Fortress Energy in the second quarter valued at approximately $105,000. Finally, 180 Wealth Advisors LLC boosted its stake in shares of New Fortress Energy by 93.3% in the second quarter. 180 Wealth Advisors LLC now owns 48,528 shares of the company's stock valued at $161,000 after buying an additional 23,419 shares in the last quarter. Institutional investors and hedge funds own 58.61% of the company's stock.

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.