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

New Fortress Energy Inc. (NASDAQ:NFE) shares gapped up prior to trading on Monday . The stock had previously closed at $6.32, but opened at $7.22. New Fortress Energy shares last traded at $6.98, with a volume of 1,453,727 shares changing hands.

Wall Street Analyst Weigh In

NFE has been the topic of several research analyst reports. Citigroup cut their target price on New Fortress Energy from $34.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Stifel Nicolaus cut their target price on New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley cut their target price 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. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a research report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

New Fortress Energy Trading Up 8.3%

The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 7.53 and a beta of 1.45. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The business’s 50-day moving average price is $7.41 and its two-hundred day moving average price is $10.51.

New Fortress Energy (NASDAQ:NFE) 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. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. The business had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. Equities analysts expect that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Christopher S. Guinta bought 5,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the purchase, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 37.10% of the company’s stock.

Institutional Trading of New Fortress Energy

Large investors have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its holdings in shares of New Fortress Energy by 2,156.0% during the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after purchasing an additional 1,962 shares during the last quarter. GAMMA Investing LLC increased its position 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 during the last quarter. Quarry LP bought a new stake in shares of New Fortress Energy during the 4th quarter worth about $64,000. US Bancorp DE boosted 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 valued at $71,000 after purchasing an additional 1,126 shares during the period. Finally, CWM LLC boosted its stake in New Fortress Energy by 46.9% during the 1st quarter. CWM LLC now owns 9,065 shares of the company’s stock valued at $75,000 after purchasing an additional 2,895 shares during the period. 58.61% of the stock is currently owned by institutional investors and hedge funds.

About New Fortress Energy

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.