New Fortress Energy (NASDAQ:NFE) Stock Price Up 6% – Time to Buy?

New Fortress Energy Inc. (NASDAQ:NFE)’s share price shot up 6% 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.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a research report on Wednesday, March 12th. Morgan Stanley decreased 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 note on Tuesday, March 4th. Finally, Stifel Nicolaus reduced their price objective on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.00.

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 firm has a market cap of $2.69 billion, a P/E ratio of 10.82 and a beta of 1.58. The business has a 50-day moving average of $12.52 and a two-hundred day moving average of $11.37.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. The business had revenue of $679.00 million for 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, sell-side analysts anticipate 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 acquired 5,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the transaction, the chief financial officer now owns 206,653 shares in the company, 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 document filed with the SEC, which is accessible through this link. 37.10% of the stock is owned by insiders.

Institutional Trading of New Fortress Energy

A number of large investors have recently added to or reduced their stakes in the stock. Hood River Capital Management LLC bought a new position in shares of New Fortress Energy during the 4th quarter valued at approximately $155,023,000. Capital World Investors grew its holdings in New Fortress Energy by 87.9% during the fourth quarter. Capital World Investors now owns 19,925,022 shares of the company’s stock valued at $301,266,000 after purchasing an additional 9,319,985 shares during the period. William Blair Investment Management LLC raised its stake in New Fortress Energy by 40.8% in the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock valued at $235,374,000 after acquiring an additional 4,509,177 shares during the period. Primecap Management Co. CA raised its stake in New Fortress Energy by 43.7% in the 3rd quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company’s stock valued at $104,827,000 after acquiring an additional 3,505,975 shares during the period. Finally, Vanguard Group Inc. boosted its position in New Fortress Energy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock worth $171,147,000 after purchasing an additional 2,728,191 shares during the period. Hedge funds and other institutional investors 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.