New Fortress Energy (NASDAQ:NFE) Shares Gap Up - Still a Buy?

New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $15.59, but opened at $15.95. New Fortress Energy shares last traded at $16.33, with a volume of 656,887 shares.

Analysts Set New Price Targets

Several equities analysts have 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 target price on the stock in a research note on Wednesday, December 4th. Stifel Nicolaus increased their price target on shares of New Fortress Energy from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Monday, December 23rd. Finally, Morgan Stanley lowered shares of New Fortress Energy from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $35.00 to $15.00 in a research note on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $15.40.

New Fortress Energy Stock Down 3.5 %

The company has a market capitalization of $3.86 billion, a P/E ratio of 16.88 and a beta of 1.50. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The firm has a fifty day simple moving average of $13.13 and a 200-day simple moving average of $12.93.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. boosted its position in shares of New Fortress Energy by 4.0% during the second quarter. American Century Companies Inc. now owns 125,984 shares of the company's stock worth $2,769,000 after buying an additional 4,791 shares during the period. Dimensional Fund Advisors LP boosted its position in New Fortress Energy by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,443,476 shares of the company's stock worth $31,717,000 after acquiring an additional 75,661 shares during the last quarter. Amalgamated Bank grew its stake in shares of New Fortress Energy by 50.8% during the 2nd quarter. Amalgamated Bank now owns 11,929 shares of the company's stock worth $262,000 after acquiring an additional 4,021 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of New Fortress Energy by 118.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,031 shares of the company's stock worth $67,000 after acquiring an additional 1,644 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of New Fortress Energy by 167.2% in the second quarter. Sei Investments Co. now owns 127,962 shares of the company's stock valued at $2,813,000 after purchasing an additional 80,075 shares during the last quarter. Institutional investors and hedge funds 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.