New Fortress Energy Inc. (NASDAQ:NFE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

New Fortress Energy Inc. (NASDAQ:NFE) has received an average rating of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $13.00.

A number of brokerages have weighed in on NFE. Citigroup lowered their target price on New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. 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 report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a report on Wednesday, March 12th. Finally, Morgan Stanley decreased their target price on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 4th.

New Fortress Energy Price Performance

New Fortress Energy stock opened at $6.08 on Friday. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. New Fortress Energy has a 52 week low of $4.72 and a 52 week high of $29.11. The stock has a market capitalization of $1.66 billion, a P/E ratio of 6.68 and a beta of 1.52. The stock has a fifty day moving average of $7.80 and a 200-day moving average of $10.60.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.07. The company had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. On average, sell-side analysts expect that New Fortress Energy will post 0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Christopher S. Guinta acquired 5,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of the purchase, the chief financial officer now owns 206,653 shares in the company, valued at approximately $1,771,016.21. The trade was a 2.48 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On New Fortress Energy

Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in New Fortress Energy by 2.0% in the 4th quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company’s stock valued at $730,000 after acquiring an additional 935 shares in the last quarter. US Bancorp DE lifted its holdings in shares of New Fortress Energy by 31.5% during the fourth quarter. US Bancorp DE now owns 4,696 shares of the company’s stock valued at $71,000 after purchasing an additional 1,126 shares in the last quarter. Allworth Financial LP boosted its position in shares of New Fortress Energy by 2,156.0% during the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after buying an additional 1,962 shares during the last quarter. Victory Capital Management Inc. increased its holdings in New Fortress Energy by 11.2% in the 1st quarter. Victory Capital Management Inc. now owns 21,474 shares of the company’s stock worth $178,000 after buying an additional 2,157 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in New Fortress Energy by 148.5% in the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after buying an additional 2,370 shares during the last quarter. 58.61% of the stock is owned by institutional investors.

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.