Shares of New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $9.26, but opened at $8.98. New Fortress Energy shares last traded at $8.96, with a volume of 1,315,038 shares.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on NFE shares. Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a "sell" rating to a "hold" rating and set a $11.00 price target on the stock in a research note on Wednesday, December 4th. Stifel Nicolaus decreased 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. Finally, Morgan Stanley decreased their price objective on New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating for the company in a report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, New Fortress Energy currently has an average rating of "Hold" and a consensus price target of $15.60.
Read Our Latest Research Report on New Fortress Energy
New Fortress Energy Price Performance
The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The business has a fifty day simple moving average of $12.86 and a 200 day simple moving average of $11.45. The stock has a market capitalization of $2.52 billion, a P/E ratio of 10.22 and a beta of 1.58.
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 the consensus estimate of $0.06 by $0.07. The company had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. On average, analysts expect that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.
Insider Activity
In other New Fortress Energy news, CFO Christopher S. Guinta bought 5,000 shares of New Fortress Energy stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of the acquisition, the chief financial officer now directly owns 206,653 shares in the company, valued at approximately $1,771,016.21. The trade was a 2.48 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 37.10% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On New Fortress Energy
Several institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in New Fortress Energy by 2.0% during the fourth quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company's stock valued at $730,000 after purchasing an additional 935 shares during the period. US Bancorp DE raised its position in shares of New Fortress Energy by 31.5% in the fourth quarter. US Bancorp DE now owns 4,696 shares of the company's stock worth $71,000 after buying an additional 1,126 shares in the last quarter. KBC Group NV raised its position in shares of New Fortress Energy by 116.9% in the third quarter. KBC Group NV now owns 3,436 shares of the company's stock worth $31,000 after buying an additional 1,852 shares in the last quarter. Allworth Financial LP increased its stake in New Fortress Energy by 2,156.0% in the fourth 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 last quarter. Finally, GAMMA Investing LLC increased its stake in New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock valued at $60,000 after acquiring an additional 2,370 shares during the last quarter. 58.61% of the stock is owned by institutional investors.
About New Fortress Energy
(
Get Free Report)
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.
Recommended Stories
Before you consider New Fortress Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New Fortress Energy wasn't on the list.
While New Fortress Energy currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
