New Fortress Energy (NASDAQ:NFE) Trading Up 17.1% – Should You Buy?

New Fortress Energy Inc. (NASDAQ:NFE)’s share price traded up 17.1% on Monday . The company traded as high as $3.20 and last traded at $3.12. 9,663,021 shares were traded during trading, an increase of 72% from the average session volume of 5,623,809 shares. The stock had previously closed at $2.66.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a report on Wednesday, March 12th. Citigroup lowered their price objective on New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Stifel Nicolaus dropped their price objective on New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. BTIG Research set a $8.00 price target on New Fortress Energy and gave the company a “buy” rating in a research report on Thursday. Finally, Morgan Stanley dropped 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 note on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.83.

New Fortress Energy Trading Up 20.7%

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 firm has a 50 day moving average price of $6.97 and a two-hundred day moving average price of $10.39. The firm has a market capitalization of $878.81 million, a P/E ratio of 3.53 and a beta of 1.45.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) 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 firm had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. On average, equities research analysts expect that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Christopher S. Guinta purchased 5,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $8.57 per share, with a total value of $42,850.00. Following the acquisition, the chief financial officer now directly 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 filing with the Securities & Exchange Commission, which is accessible through this link. 29.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On New Fortress Energy

A number of large investors have recently bought and sold shares of NFE. Allworth Financial LP raised its position in shares of New Fortress Energy by 2,156.0% during 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. Quarry LP purchased a new stake in shares of New Fortress Energy in the fourth quarter valued at about $64,000. US Bancorp DE raised its position in shares of New Fortress Energy by 31.5% in the fourth quarter. US Bancorp DE now owns 4,696 shares of the company’s stock valued at $71,000 after buying an additional 1,126 shares during the last quarter. CWM LLC increased its position in New Fortress Energy by 46.9% during the first quarter. CWM LLC now owns 9,065 shares of the company’s stock worth $75,000 after purchasing an additional 2,895 shares during the last quarter. Finally, Hardin Capital Partners LLC purchased a new stake in New Fortress Energy during the first quarter worth approximately $83,000. 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.