New Fortress Energy (NASDAQ:NFE) Trading Up 5.9% - Here's What Happened

New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) shot up 5.9% on Tuesday . The company traded as high as $2.74 and last traded at $2.70. 1,312,207 shares traded hands during trading, a decline of 78% from the average session volume of 6,000,507 shares. The stock had previously closed at $2.55.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley set a $4.00 price objective on New Fortress Energy and gave the company an "equal weight" rating in a report on Tuesday, May 27th. BTIG Research set a $8.00 target price on shares of New Fortress Energy and gave the company a "buy" rating in a research note on Thursday, May 15th. Citigroup dropped 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. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a research report on Wednesday, March 12th. Finally, Stifel Nicolaus lowered 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 note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $10.17.

New Fortress Energy Stock Performance

The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The company has a market cap of $813.10 million, a PE ratio of 3.26 and a beta of 1.22. The firm's fifty day moving average is $4.96 and its 200 day moving average is $9.77.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.07. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The firm had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. As a group, research analysts predict that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Christopher S. Guinta acquired 5,000 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the acquisition, the chief financial officer now owns 206,653 shares of the company's stock, valued at approximately $1,771,016.21. This trade represents a 2.48% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 29.40% of the stock is owned by company insiders.

Institutional Trading of New Fortress Energy

Large investors have recently bought and sold shares of the business. Allworth Financial LP boosted its holdings in shares of New Fortress Energy by 2,156.0% during the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company's stock worth $32,000 after purchasing an additional 1,962 shares during the last quarter. Quarry LP acquired a new position in New Fortress Energy during the fourth quarter worth $64,000. US Bancorp DE grew its holdings in New Fortress Energy by 31.5% in the 4th quarter. US Bancorp DE now owns 4,696 shares of the company's stock valued at $71,000 after buying an additional 1,126 shares in the last quarter. CWM LLC increased its stake in shares of New Fortress Energy by 46.9% in the 1st quarter. CWM LLC now owns 9,065 shares of the company's stock worth $75,000 after acquiring an additional 2,895 shares during the last quarter. Finally, Hardin Capital Partners LLC purchased a new position in shares of New Fortress Energy during the 1st quarter worth $83,000. 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.