New Fortress Energy (NASDAQ:NFE) Trading 8.6% Higher - What's Next?

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report)'s share price shot up 8.6% during mid-day trading on Tuesday . The stock traded as high as $2.19 and last traded at $2.22. 1,942,378 shares were traded during trading, a decline of 70% from the average session volume of 6,514,217 shares. The stock had previously closed at $2.04.

Analyst Upgrades and Downgrades

NFE has been the subject of a number of research analyst reports. Stifel Nicolaus dropped their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. BTIG Research lowered New Fortress Energy from a "buy" rating to a "neutral" rating in a research note on Thursday. Morgan Stanley set a $4.00 price objective on New Fortress Energy and gave the company an "equal weight" rating in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a research report on Wednesday, March 12th. Finally, Citigroup reduced 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. 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 target price of $10.17.

New Fortress Energy Stock Up 5.7%

The company has a 50-day simple moving average of $3.89 and a two-hundred day simple moving average of $8.95. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 4.00. The stock has a market cap of $688.53 million, a P/E ratio of -1.12 and a beta of 1.21.

Hedge Funds Weigh In On New Fortress Energy

Hedge funds have recently modified their holdings of the company. Cetera Investment Advisers grew its stake in shares of New Fortress Energy by 552.2% in the fourth quarter. Cetera Investment Advisers now owns 130,650 shares of the company's stock worth $1,975,000 after purchasing an additional 110,617 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in New Fortress Energy by 32.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,470,832 shares of the company's stock worth $22,239,000 after buying an additional 359,421 shares during the period. Two Sigma Investments LP grew its position in shares of New Fortress Energy by 186.9% in the 4th quarter. Two Sigma Investments LP now owns 170,852 shares of the company's stock worth $2,583,000 after buying an additional 111,300 shares during the last quarter. Mork Capital Management LLC purchased a new position in shares of New Fortress Energy during the fourth quarter valued at approximately $1,046,000. Finally, Brandywine Global Investment Management LLC bought a new position in shares of New Fortress Energy during the fourth quarter valued at approximately $19,618,000. 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.