New Fortress Energy LLC (NASDAQ:NFE) Receives $7.88 Average Target Price from Analysts

Shares of New Fortress Energy LLC (NASDAQ:NFE) have been assigned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $7.8750.

A number of brokerages recently weighed in on NFE. Zacks Research downgraded New Fortress Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Weiss Ratings reissued a “sell (d)” rating on shares of New Fortress Energy in a research report on Monday, December 29th.

New Fortress Energy Stock Performance

Shares of NFE stock opened at $1.18 on Friday. The firm has a market cap of $335.77 million, a price-to-earnings ratio of -0.31 and a beta of 1.05. New Fortress Energy has a 52-week low of $0.98 and a 52-week high of $16.66. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.08. The company’s 50 day moving average is $1.23 and its 200 day moving average is $2.13.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Wednesday, June 18th. The company reported $0.13 earnings per share (EPS) for the quarter. New Fortress Energy had a negative return on equity of 43.91% and a negative net margin of 72.92%.The business had revenue of $679.00 million for the quarter. On average, sell-side analysts anticipate that New Fortress Energy will post 0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On New Fortress Energy

Several institutional investors have recently bought and sold shares of NFE. Shay Capital LLC raised its position in shares of New Fortress Energy by 272.1% in the 3rd quarter. Shay Capital LLC now owns 5,675,000 shares of the company’s stock valued at $12,542,000 after purchasing an additional 4,150,000 shares during the last quarter. Long Focus Capital Management LLC grew its position in New Fortress Energy by 43.7% during the 3rd quarter. Long Focus Capital Management LLC now owns 7,400,000 shares of the company’s stock worth $16,354,000 after purchasing an additional 2,250,000 shares during the last quarter. Norges Bank acquired a new position in New Fortress Energy during the 2nd quarter valued at approximately $5,278,000. Geode Capital Management LLC raised its holdings in shares of New Fortress Energy by 71.2% in the second quarter. Geode Capital Management LLC now owns 3,661,857 shares of the company’s stock worth $12,159,000 after buying an additional 1,522,324 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of New Fortress Energy by 3,088.3% during the second quarter. AQR Capital Management LLC now owns 1,496,579 shares of the company’s stock worth $4,692,000 after buying an additional 1,449,639 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 is an integrated global energy infrastructure company focused on the development, construction and operation of natural gas-to-power projects and liquefied natural gas (LNG) terminals. The company sources LNG and delivers it via a network of floating storage and regasification units (FSRUs), onshore regasification terminals, and small-scale LNG carriers. By providing reliable natural gas supply solutions, New Fortress Energy aims to displace higher-carbon fuels in power generation, industrial and marine sectors.

The company’s core activities include the design, development and operation of FSRUs and onshore regasification terminals that convert cryogenic LNG back to gas for delivery into domestic transmission networks.