New Fortress Energy (NASDAQ:NFE) Price Target Lowered to $4.00 at Morgan Stanley

New Fortress Energy (NASDAQ:NFE) had its target price reduced by Morgan Stanley from $13.00 to $4.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

NFE has been the topic of several other reports. BTIG Research set a $8.00 price target on shares of New Fortress Energy and gave the stock a “buy” rating in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a research report on Wednesday, March 12th. Stifel Nicolaus decreased their price objective on New Fortress Energy from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Finally, Citigroup lowered their target price on shares of New Fortress Energy from $34.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Three 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.com, New Fortress Energy has an average rating of “Moderate Buy” and an average target price of $10.17.

New Fortress Energy Stock Up 0.4%

Shares of NFE opened at $2.79 on Tuesday. The company’s 50-day moving average price is $6.03 and its 200 day moving average price is $10.09. New Fortress Energy has a 12-month low of $2.26 and a 12-month high of $26.22. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The firm has a market cap of $763.82 million, a P/E ratio of 3.07 and a beta of 1.45.

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

Insider Activity

In other news, CFO Christopher S. Guinta purchased 5,000 shares of the business’s stock in a transaction that occurred on 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 acquisition, the chief financial officer now directly owns 206,653 shares of the company’s stock, valued at approximately $1,771,016.21. This trade represents a 2.48% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 29.40% of the company’s stock.

Institutional Trading of New Fortress Energy

Several hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of New Fortress Energy during the 4th quarter worth $125,000. Janney Montgomery Scott LLC acquired a new stake in shares of New Fortress Energy in the fourth quarter valued at about $533,000. KBC Group NV boosted its holdings in New Fortress Energy by 121.1% during the fourth quarter. KBC Group NV now owns 7,596 shares of the company’s stock worth $115,000 after buying an additional 4,160 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new stake in New Fortress Energy during the fourth quarter worth about $749,000. Finally, Golden State Wealth Management LLC acquired a new position in New Fortress Energy during the fourth quarter worth about $118,000. 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.