New Fortress Energy (NASDAQ:NFE) Stock Rating Lowered by Johnson Rice

New Fortress Energy (NASDAQ:NFE) was downgraded by investment analysts at Johnson Rice from a “buy” rating to a “hold” rating in a research report issued on Wednesday, MarketBeat Ratings reports. They currently have a $4.00 price objective on the stock, down from their previous price objective of $7.00. Johnson Rice’s target price points to a potential upside of 67.36% from the company’s previous close.

A number of other brokerages have also issued reports on NFE. New Street Research set a $8.50 target price on shares of New Fortress Energy in a research note on Monday, June 30th. BTIG Research downgraded shares of New Fortress Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, June 26th. Stifel Nicolaus lowered their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Compass Point initiated coverage on shares of New Fortress Energy in a research report on Tuesday, July 1st. They set a “buy” rating and a $8.50 price objective for the company. Finally, 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 report on Tuesday, May 27th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.88.

New Fortress Energy Stock Performance

Shares of New Fortress Energy stock opened at $2.39 on Wednesday. The firm has a market cap of $655.34 million, a PE ratio of -1.06 and a beta of 1.08. The firm’s 50-day simple moving average is $3.20 and its 200-day simple moving average is $6.31. The company has a debt-to-equity ratio of 4.77, a quick ratio of 0.95 and a current ratio of 1.00. New Fortress Energy has a 1 year low of $2.01 and a 1 year high of $16.66.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. PDT Partners LLC grew its position in New Fortress Energy by 503.4% in the 2nd quarter. PDT Partners LLC now owns 972,741 shares of the company’s stock worth $3,230,000 after purchasing an additional 811,542 shares during the last quarter. California State Teachers Retirement System grew its position in New Fortress Energy by 5.0% in the 2nd quarter. California State Teachers Retirement System now owns 97,267 shares of the company’s stock worth $323,000 after purchasing an additional 4,663 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new position in New Fortress Energy in the 2nd quarter worth about $963,000. Pingora Partners LLC grew its position in New Fortress Energy by 3.1% in the 2nd quarter. Pingora Partners LLC now owns 778,893 shares of the company’s stock worth $2,586,000 after purchasing an additional 23,500 shares during the last quarter. Finally, Ilex Capital Partners UK LLP bought a new position in New Fortress Energy in the 2nd quarter worth about $498,000. Institutional investors own 58.61% of the company’s stock.

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.