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

Shares of New Fortress Energy LLC (NASDAQ:NFE) have earned a consensus rating of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.8750.

A number of analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of New Fortress Energy in a research note on Monday, December 29th. Zacks Research upgraded shares of New Fortress Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd.

New Fortress Energy Stock Performance

NASDAQ NFE opened at $1.09 on Friday. The stock has a fifty day simple moving average of $1.27 and a 200-day simple moving average of $1.60. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.08. The stock has a market cap of $310.16 million, a PE ratio of -0.28 and a beta of 1.03. New Fortress Energy has a twelve month low of $0.98 and a twelve month high of $12.59.

New Fortress Energy (NASDAQ:NFE) last posted its earnings results on Thursday, January 1st. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.40). New Fortress Energy had a negative return on equity of 43.91% and a negative net margin of 72.92%.The firm had revenue of $327.37 million for the quarter, compared to analyst estimates of $716.89 million. During the same period in the previous year, the company posted $0.03 EPS. New Fortress Energy’s revenue was down 42.3% on a year-over-year basis. Equities analysts anticipate that New Fortress Energy will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On New Fortress Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Shay Capital LLC grew its holdings in shares of New Fortress Energy by 272.1% in the 3rd quarter. Shay Capital LLC now owns 5,675,000 shares of the company’s stock worth $12,542,000 after acquiring an additional 4,150,000 shares during the period. Long Focus Capital Management LLC raised its stake in New Fortress Energy by 43.7% during the third quarter. Long Focus Capital Management LLC now owns 7,400,000 shares of the company’s stock worth $16,354,000 after purchasing an additional 2,250,000 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in New Fortress Energy by 85.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,499,203 shares of the company’s stock valued at $5,129,000 after purchasing an additional 2,072,477 shares in the last quarter. Deltroit Asset Management UK LLP acquired a new stake in New Fortress Energy in the fourth quarter valued at approximately $2,052,000. Finally, Norges Bank acquired a new position in shares of New Fortress Energy in the 2nd quarter valued at approximately $5,278,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

About New Fortress Energy

New Fortress Energy is an integrated global energy infrastructure company focused on the development, construction and operation of natural gas-to-power projects and liquefied natural gas (LNG) terminals. The company sources LNG and delivers it via a network of floating storage and regasification units (FSRUs), onshore regasification terminals, and small-scale LNG carriers. By providing reliable natural gas supply solutions, New Fortress Energy aims to displace higher-carbon fuels in power generation, industrial and marine sectors.

The company’s core activities include the design, development and operation of FSRUs and onshore regasification terminals that convert cryogenic LNG back to gas for delivery into domestic transmission networks.