New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) was up 5.1% during mid-day trading on Monday . The stock traded as high as $2.76 and last traded at $2.78. Approximately 876,346 shares changed hands during trading, a decline of 90% from the average daily volume of 9,047,781 shares. The stock had previously closed at $2.64.
Analyst Ratings Changes
Several research analysts recently issued reports on NFE shares. Zacks Research raised shares of New Fortress Energy to a "hold" rating in a research note on Monday, August 11th. BTIG Research lowered shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a research note on Thursday, June 26th. Johnson Rice lowered shares of New Fortress Energy from a "buy" rating to a "hold" rating and dropped their price objective for the company from $7.00 to $4.00 in a research note on Wednesday, August 13th. New Street Research set a $8.50 price objective on shares of New Fortress Energy in a research note on Monday, June 30th. Finally, Compass Point assumed coverage on shares of New Fortress Energy in a research note on Tuesday, July 1st. They issued a "buy" rating and a $8.50 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, New Fortress Energy presently has a consensus rating of "Hold" and an average price target of $7.88.
Read Our Latest Report on NFE
New Fortress Energy Stock Performance
The company's fifty day moving average price is $3.15 and its 200 day moving average price is $5.51. The company has a market cap of $721.14 million, a PE ratio of -1.17 and a beta of 1.08. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.00 and a quick ratio of 0.95.
Institutional Trading of New Fortress Energy
Institutional investors and hedge funds have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. purchased a new stake in New Fortress Energy during the second quarter worth about $63,000. Headlands Technologies LLC purchased a new position in shares of New Fortress Energy in the second quarter worth about $82,000. Tower Research Capital LLC TRC increased its stake in shares of New Fortress Energy by 2,661.6% in the second quarter. Tower Research Capital LLC TRC now owns 43,826 shares of the company's stock worth $146,000 after purchasing an additional 42,239 shares in the last quarter. Shay Capital LLC increased its stake in shares of New Fortress Energy by 7,990.2% in the second quarter. Shay Capital LLC now owns 1,525,000 shares of the company's stock worth $5,063,000 after purchasing an additional 1,506,150 shares in the last quarter. Finally, Rubric Capital Management LP increased its stake in shares of New Fortress Energy by 0.3% in the second quarter. Rubric Capital Management LP now owns 24,400,000 shares of the company's stock worth $81,008,000 after purchasing an additional 61,325 shares in the last quarter. Hedge funds and other institutional investors own 58.61% of the company's stock.
About New Fortress Energy
(
Get Free Report)
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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