New Fortress Energy (NASDAQ:NFE) Stock Price Up 4.2% - Here's What Happened

Key Points

• New Fortress Energy's stock price rose by 4.2%, closing at $2.10, although trading volume was significantly lower than average, down 80%.
• Analyst ratings are mixed, with three analysts issuing a Buy rating, five a Hold rating, and one a Sell rating, while the average price target is $7.88.
• The company's latest earnings report showed a loss of ($2.02) EPS, missing expectations significantly, and a 29.5% decline in revenue year-over-year.

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report)'s stock price rose 4.2% on Tuesday . The stock traded as high as $2.18 and last traded at $2.10. Approximately 2,275,650 shares changed hands during trading, a decline of 80% from the average daily volume of 11,271,273 shares. The stock had previously closed at $2.01.

Analyst Upgrades and Downgrades

Several research firms recently commented on NFE. BTIG Research cut New Fortress Energy from a "buy" rating to a "neutral" rating in a research report on Thursday, June 26th. Zacks Research upgraded New Fortress Energy to a "hold" rating in a report on Monday, August 11th. New Street Research set a $8.50 price objective on New Fortress Energy in a report on Monday, June 30th. Compass Point initiated coverage on New Fortress Energy in a report on Tuesday, July 1st. They issued a "buy" rating and a $8.50 price objective for the company. Finally, Johnson Rice downgraded New Fortress Energy from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $7.00 to $4.00 in a report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $7.88.

New Fortress Energy Trading Up 7.2%

The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.64 and a current ratio of 0.67. The stock has a market capitalization of $613.21 million, a PE ratio of -0.56 and a beta of 0.99. The stock has a 50-day moving average price of $2.54 and a two-hundred day moving average price of $4.14.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last posted its quarterly earnings results on Saturday, September 13th. The company reported ($2.02) EPS for the quarter, missing analysts' consensus estimates of ($0.64) by ($1.38). New Fortress Energy had a negative return on equity of 22.72% and a negative net margin of 48.94%.During the same period in the previous year, the firm earned ($0.41) earnings per share. The business's revenue was down 29.5% on a year-over-year basis. As a group, equities analysts forecast that New Fortress Energy LLC will post 0.36 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. US Bancorp DE lifted its holdings in New Fortress Energy by 81.7% in the 1st quarter. US Bancorp DE now owns 8,534 shares of the company's stock worth $71,000 after purchasing an additional 3,838 shares in the last quarter. CWM LLC increased its stake in 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. IFP Advisors Inc increased its stake in New Fortress Energy by 166.3% in the 2nd quarter. IFP Advisors Inc now owns 9,072 shares of the company's stock worth $30,000 after acquiring an additional 5,665 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in New Fortress Energy in the 2nd quarter worth approximately $33,000. Finally, MQS Management LLC bought a new stake in New Fortress Energy in the 2nd quarter worth approximately $33,000. 58.61% of the stock is owned by hedge funds and other institutional investors.

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.

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