New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) shares rose 8.8% on Thursday . The stock traded as high as $6.15 and last traded at $6.03. Approximately 752,701 shares were traded during trading, a decline of 84% from the average daily volume of 4,724,935 shares. The stock had previously closed at $5.54.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on NFE shares. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a research report on Wednesday, March 12th. Stifel Nicolaus lowered 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. Citigroup reduced their price target on 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. Finally, Morgan Stanley lowered their price target 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $13.83.
Get Our Latest Research Report on NFE
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 company has a market capitalization of $1.56 billion, a P/E ratio of 6.25 and a beta of 1.52. The company has a 50 day moving average price of $9.04 and a 200 day moving average price of $10.88.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.07. The firm had revenue of $679.00 million during the quarter, compared to analysts' expectations of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. On average, equities analysts predict that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.
Insider Activity at New Fortress Energy
In other 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 completion of the acquisition, the chief financial officer now owns 206,653 shares of the company's stock, valued at $1,771,016.21. This represents a 2.48 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 37.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On New Fortress Energy
Several institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of New Fortress Energy by 2.0% during the 4th quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company's stock worth $730,000 after purchasing an additional 935 shares in the last quarter. US Bancorp DE increased its stake in New Fortress Energy by 31.5% during the 4th 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. Allworth Financial LP raised its holdings 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 valued at $32,000 after acquiring an additional 1,962 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of New Fortress Energy by 148.5% during the 4th 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 period. Finally, Deutsche Bank AG grew its holdings in shares of New Fortress Energy by 3.0% during the 4th quarter. Deutsche Bank AG now owns 85,206 shares of the company's stock worth $1,288,000 after purchasing an additional 2,463 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.
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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