New Fortress Energy (NASDAQ:NFE) Trading 7.4% Higher - Here's Why

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) shares were up 7.4% on Tuesday . The company traded as high as $3.78 and last traded at $3.85. Approximately 838,954 shares traded hands during trading, a decline of 88% from the average daily volume of 7,004,956 shares. The stock had previously closed at $3.58.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NFE shares. Morgan Stanley set a $4.00 price target on New Fortress Energy and gave the company an "equal weight" rating in a research note on Tuesday, May 27th. Compass Point assumed coverage on New Fortress Energy in a research report on Tuesday, July 1st. They set a "buy" rating and a $8.50 target price for the company. BTIG Research downgraded shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a research report on Thursday, June 26th. Stifel Nicolaus reduced their price target on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Citigroup reduced their target price on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, New Fortress Energy currently has a consensus rating of "Hold" and an average target price of $9.75.

New Fortress Energy Trading Up 17.9%

The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -1.84 and a beta of 1.30. The business's fifty day moving average is $3.47 and its 200 day moving average is $8.26. The company has a quick ratio of 0.95, a current ratio of 1.00 and a debt-to-equity ratio of 4.77.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NFE. Hardin Capital Partners LLC lifted its stake in New Fortress Energy by 50.0% in the 2nd quarter. Hardin Capital Partners LLC now owns 15,000 shares of the company's stock valued at $54,000 after acquiring an additional 5,000 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new position in New Fortress Energy during the second quarter worth $56,000. Quarry LP bought a new position in New Fortress Energy in the fourth quarter valued at $64,000. US Bancorp DE increased its stake 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 during the last quarter. Finally, CWM LLC lifted its position in New Fortress Energy by 46.9% during the 1st quarter. CWM LLC now owns 9,065 shares of the company's stock worth $75,000 after buying an additional 2,895 shares in the last quarter. 58.61% of the stock is owned by institutional investors and hedge funds.

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.