New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) shares rose 9.1% during mid-day trading on Monday . The stock traded as high as $12.10 and last traded at $12.19. Approximately 2,907,598 shares traded hands during trading, a decline of 28% from the average daily volume of 4,054,472 shares. The stock had previously closed at $11.17.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on NFE. Stifel Nicolaus dropped their price objective on shares of New Fortress Energy from $23.00 to $19.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a research note on Wednesday, March 12th. Finally, Morgan Stanley reduced their price objective on 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, New Fortress Energy presently has a consensus rating of "Hold" and a consensus price target of $15.00.
Read Our Latest Research Report on NFE
New Fortress Energy Trading Down 4.6 %
The business's 50 day moving average price is $11.99 and its two-hundred day moving average price is $11.34. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 9.73 and a beta of 1.58.
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 the consensus estimate of $0.06 by $0.07. The firm had revenue of $679.00 million for the quarter, compared to analysts' expectations of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. Equities analysts forecast that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.
Insider Activity at New Fortress Energy
In other New Fortress Energy news, CFO Christopher S. Guinta bought 5,000 shares of New Fortress Energy stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $8.57 per share, for a total transaction 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 approximately $1,771,016.21. This represents a 2.48 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 37.10% of the company's stock.
Institutional Investors Weigh In On New Fortress Energy
A number of institutional investors and hedge funds have recently modified their holdings of NFE. Allworth Financial LP grew its holdings in shares of 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 acquiring an additional 1,962 shares during the last quarter. GAMMA Investing LLC increased its stake in New Fortress Energy by 148.5% in the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock worth $60,000 after purchasing an additional 2,370 shares in the last quarter. Quarry LP purchased a new position in New Fortress Energy in the 4th quarter worth about $64,000. US Bancorp DE raised its holdings 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 buying an additional 1,126 shares during the period. Finally, Ancora Advisors LLC purchased a new stake in New Fortress Energy during the fourth quarter valued at about $91,000. 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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