New Fortress Energy (NASDAQ:NFE) Stock Price Up 7.4% - Should You Buy?

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) rose 7.4% during mid-day trading on Tuesday . The company traded as high as $3.78 and last traded at $3.85. Approximately 838,954 shares changed 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.

Analysts Set New Price Targets

NFE has been the topic of a number of recent research reports. Stifel Nicolaus dropped 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 research note on Tuesday, April 22nd. Compass Point started coverage on shares of New Fortress Energy in a research note on Tuesday, July 1st. They issued a "buy" rating and a $8.50 target price for the company. Citigroup lowered their target price on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. New Street Research set a $8.50 target price on shares of New Fortress Energy in a research note on Monday, June 30th. 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $9.75.

New Fortress Energy Stock Down 4.9%

The company has a market capitalization of $965.18 million, a price-to-earnings ratio of -1.56 and a beta of 1.30. The business's 50-day moving average is $3.55 and its 200-day moving average is $8.40. 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFE. US Bancorp DE increased its holdings in New Fortress Energy by 31.5% in the fourth 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. Charles Schwab Investment Management Inc. increased its holdings in New Fortress Energy by 61.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 639,194 shares of the company's stock valued at $9,665,000 after buying an additional 242,459 shares in the last quarter. Victory Capital Management Inc. increased its holdings in New Fortress Energy by 31.6% in the fourth quarter. Victory Capital Management Inc. now owns 19,317 shares of the company's stock valued at $292,000 after buying an additional 4,636 shares in the last quarter. Arizona State Retirement System increased its holdings in New Fortress Energy by 64.7% in the fourth quarter. Arizona State Retirement System now owns 29,170 shares of the company's stock valued at $441,000 after buying an additional 11,455 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in New Fortress Energy in the fourth quarter valued at $787,000. 58.61% of the stock is currently owned by institutional investors and hedge funds.

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.