New Fortress Energy (NASDAQ:NFE) Stock Price Up 9.9% - Here's Why

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report)'s stock price was up 9.9% during trading on Thursday . The stock traded as high as $4.45 and last traded at $4.41. 2,634,781 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 7,206,767 shares. The stock had previously closed at $4.01.

Analyst Ratings Changes

Several research firms recently weighed in on NFE. Compass Point initiated coverage on shares of New Fortress Energy in a report on Tuesday, July 1st. They issued a "buy" rating and a $8.50 price objective for the company. New Street Research set a $8.50 price target on shares of New Fortress Energy in a research report on Monday, June 30th. Stifel Nicolaus reduced their price target on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley set a $4.00 price objective on shares of New Fortress Energy and gave the company an "equal weight" rating in a research note on Tuesday, May 27th. Finally, BTIG Research cut New Fortress Energy from a "buy" rating to a "neutral" rating in a report on Thursday, June 26th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, New Fortress Energy has a consensus rating of "Hold" and an average target price of $9.75.

New Fortress Energy Stock Performance

The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of 4.77. The firm has a market capitalization of $1.23 billion, a PE ratio of -2.00 and a beta of 1.30. The firm's fifty day moving average price is $3.33 and its 200 day moving average price is $7.96.

Institutional Investors Weigh In On New Fortress Energy

Large investors have recently bought and sold shares of the business. Quarry LP bought a new position in shares of New Fortress Energy in the 4th quarter valued at approximately $64,000. Ancora Advisors LLC acquired a new position in New Fortress Energy during the fourth quarter valued at approximately $91,000. US Bancorp DE raised its position in shares of New Fortress Energy by 81.7% in the first quarter. US Bancorp DE now owns 8,534 shares of the company's stock valued at $71,000 after purchasing an additional 3,838 shares during the period. CWM LLC raised its position in shares of New Fortress Energy by 46.9% in the first quarter. CWM LLC now owns 9,065 shares of the company's stock valued at $75,000 after purchasing an additional 2,895 shares during the period. Finally, Hardin Capital Partners LLC acquired a new stake in shares of New Fortress Energy in the first quarter worth $83,000. 58.61% of the stock is currently owned by 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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