New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) shares traded up 6% during mid-day trading on Monday . The stock traded as high as $9.85 and last traded at $9.82. 325,059 shares were traded during mid-day trading, a decline of 92% from the average session volume of 3,982,930 shares. The stock had previously closed at $9.26.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a report on Wednesday, March 12th. Morgan Stanley reduced their price target on shares of New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 4th. Finally, 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, New Fortress Energy currently has a consensus rating of "Hold" and a consensus target price of $15.00.
Check Out Our Latest Research Report on New Fortress Energy
New Fortress Energy Trading Up 7.9 %
The business's 50-day moving average is $12.36 and its two-hundred day moving average is $11.36. The stock has a market capitalization of $3.06 billion, a PE ratio of 12.27 and a beta of 1.58. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last posted its earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.07. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. The company had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. As a group, equities research analysts anticipate that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.
Insider Transactions at New Fortress Energy
In related news, CFO Christopher S. Guinta bought 5,000 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now owns 206,653 shares of the company's stock, valued at approximately $1,771,016.21. This trade represents a 2.48 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 37.10% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in NFE. KBC Group NV lifted its holdings in shares of New Fortress Energy by 116.9% during the third quarter. KBC Group NV now owns 3,436 shares of the company's stock valued at $31,000 after purchasing an additional 1,852 shares during the last quarter. Allworth Financial LP increased its position in New Fortress Energy by 2,156.0% in the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company's stock worth $32,000 after purchasing an additional 1,962 shares during the last quarter. GAMMA Investing LLC raised 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 acquiring an additional 2,370 shares in the last quarter. Quarry LP acquired a new stake in shares of New Fortress Energy in the 4th quarter valued at $64,000. Finally, US Bancorp DE raised its stake in shares of New Fortress Energy by 31.5% in the 4th quarter. US Bancorp DE now owns 4,696 shares of the company's stock valued at $71,000 after acquiring an additional 1,126 shares in the last quarter. Institutional investors and hedge funds own 58.61% of the company's stock.
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.
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