Citigroup Cuts New Fortress Energy (NASDAQ:NFE) Price Target to $8.00

New Fortress Energy (NASDAQ:NFE - Get Free Report) had its price target decreased by analysts at Citigroup from $34.00 to $8.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price target points to a potential upside of 36.52% from the company's current price.

Several other equities research analysts also recently weighed in on the stock. Morgan Stanley lowered their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a research report on Wednesday, March 12th. Finally, Stifel Nicolaus reduced their target price on New Fortress Energy from $23.00 to $19.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, New Fortress Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.83.

New Fortress Energy Stock Down 0.7 %

NASDAQ NFE traded down $0.04 during midday trading on Wednesday, hitting $5.86. 1,943,298 shares of the company traded hands, compared to its average volume of 4,641,677. New Fortress Energy has a 52 week low of $4.80 and a 52 week high of $29.11. The company's 50-day simple moving average is $9.76 and its 200-day simple moving average is $11.01. The company has a market cap of $1.60 billion, a PE ratio of 6.44 and a beta of 1.52. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, topping 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 business had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. As a group, equities research analysts forecast that New Fortress Energy will post 0.36 earnings per share for the current year.

Insider Activity at New Fortress Energy

In other news, CFO Christopher S. Guinta purchased 5,000 shares of the company's stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the purchase, the chief financial officer now owns 206,653 shares in the company, valued at $1,771,016.21. This trade represents a 2.48 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 37.10% of the stock is owned by insiders.

Institutional Investors Weigh In On New Fortress Energy

A number of large investors have recently bought and sold shares of NFE. Allworth Financial LP lifted its stake in New Fortress Energy by 2,156.0% during the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company's stock valued at $32,000 after acquiring an additional 1,962 shares during the period. GAMMA Investing LLC lifted its position in New Fortress Energy by 148.5% during the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock valued at $60,000 after purchasing an additional 2,370 shares during the period. Quarry LP purchased a new stake in New Fortress Energy in the fourth quarter valued at $64,000. US Bancorp DE grew its holdings in New Fortress Energy by 31.5% during the fourth quarter. US Bancorp DE now owns 4,696 shares of the company's stock worth $71,000 after acquiring an additional 1,126 shares during the period. Finally, Ancora Advisors LLC purchased a new position in New Fortress Energy during the fourth quarter valued at approximately $91,000. Hedge funds and other institutional investors own 58.61% of the company's stock.

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.