New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six ratings firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $13.83.
NFE has been the subject of several recent research reports. Morgan Stanley dropped their target price on New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 4th. Citigroup decreased their target price on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a research report on Wednesday, March 12th. Finally, Stifel Nicolaus cut their price objective on New Fortress Energy from $23.00 to $19.00 and set a "buy" rating for the company in a report on Tuesday, March 4th.
Get Our Latest Report on NFE
New Fortress Energy Price Performance
New Fortress Energy stock traded down $0.21 during mid-day trading on Wednesday, hitting $5.69. 6,156,838 shares of the company were exchanged, compared to its average volume of 6,227,983. The business's 50 day simple moving average is $9.76 and its two-hundred day simple moving average is $11.01. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The company has a market capitalization of $1.56 billion, a P/E ratio of 6.25 and a beta of 1.52. New Fortress Energy has a 12-month low of $4.80 and a 12-month high of $29.11.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its earnings results on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.07. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The firm had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. Analysts forecast that New Fortress Energy will post 0.36 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CFO Christopher S. Guinta purchased 5,000 shares of New Fortress Energy stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the transaction, the chief financial officer now directly owns 206,653 shares of the company's stock, valued at approximately $1,771,016.21. This represents a 2.48 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 37.10% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On New Fortress Energy
Large investors have recently made changes to their positions in the business. Hood River Capital Management LLC bought a new stake in shares of New Fortress Energy during the fourth quarter valued at approximately $155,023,000. Capital World Investors grew its position in New Fortress Energy by 87.9% during the 4th quarter. Capital World Investors now owns 19,925,022 shares of the company's stock worth $301,266,000 after acquiring an additional 9,319,985 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of New Fortress Energy by 40.8% in the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock valued at $235,374,000 after buying an additional 4,509,177 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of New Fortress Energy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company's stock worth $171,147,000 after purchasing an additional 2,728,191 shares in the last quarter. Finally, Primecap Management Co. CA increased its stake in shares of New Fortress Energy by 13.6% in the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company's stock valued at $198,027,000 after buying an additional 1,564,893 shares during the period. Institutional investors and hedge funds own 58.61% of the company's stock.
About New Fortress Energy
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Get Free ReportNew 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.
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