New Fortress Energy LLC (NASDAQ:NFE) Given Average Rating of “Hold” by Analysts

New Fortress Energy LLC (NASDAQ:NFE) has received an average rating of “Hold” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $9.75.

A number of brokerages have recently weighed in on NFE. Citigroup cut their target price on New Fortress Energy from $34.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Stifel Nicolaus dropped their price objective on 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. BTIG Research downgraded New Fortress Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, June 26th. New Street Research set a $8.50 price objective on New Fortress Energy in a research note on Monday, June 30th. Finally, Compass Point initiated coverage on 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.

Institutional Trading of New Fortress Energy

Institutional investors have recently modified their holdings of the company. Hardin Capital Partners LLC raised its stake in New Fortress Energy by 50.0% in the second quarter. Hardin Capital Partners LLC now owns 15,000 shares of the company’s stock worth $54,000 after buying an additional 5,000 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new position in shares of New Fortress Energy during the second quarter valued at approximately $56,000. Quarry LP bought a new position in shares of New Fortress Energy during the fourth quarter valued at approximately $64,000. US Bancorp DE increased its stake in shares of New Fortress Energy by 81.7% during 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 in the last quarter. Finally, CWM LLC increased its stake in shares of New Fortress Energy by 46.9% during 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 in the last quarter. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

New Fortress Energy Stock Performance

Shares of New Fortress Energy stock opened at $4.50 on Friday. New Fortress Energy has a one year low of $2.01 and a one year high of $26.22. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -2.00 and a beta of 1.30. The business has a 50-day simple moving average of $3.33 and a 200 day simple moving average of $7.96. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.00 and a quick ratio of 0.95.

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.