New Fortress Energy (NASDAQ:NFE) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of New Fortress Energy (NASDAQ:NFE) from a hold rating to a sell rating in a report issued on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings raised New Fortress Energy from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, October 16th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

New Fortress Energy Price Performance

New Fortress Energy stock opened at $4.49 on Friday. The firm has a 50 day simple moving average of $7.32 and a 200-day simple moving average of $28.16. The stock has a market capitalization of $25.64 million, a PE ratio of -0.03 and a beta of 1.44. New Fortress Energy has a 12-month low of $3.24 and a 12-month high of $99.00.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($1.30) EPS for the quarter, beating analysts’ consensus estimates of ($10.50) by $9.20. New Fortress Energy had a negative net margin of 149.40% and a negative return on equity of 795.34%. The business had revenue of $312.50 million for the quarter, compared to analyst estimates of $511.60 million. On average, analysts forecast that New Fortress Energy will post -4.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On New Fortress Energy

Large investors have recently made changes to their positions in the business. Hohimer Wealth Management LLC bought a new stake in New Fortress Energy in the third quarter valued at about $118,000. NINE MASTS CAPITAL Ltd bought a new position in New Fortress Energy during the second quarter worth about $304,000. Primecap Management Co. CA bought a new position in New Fortress Energy during the second quarter worth about $33,000. X Square Capital LLC bought a new position in New Fortress Energy during the second quarter worth about $33,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of New Fortress Energy during the 2nd quarter worth about $59,000. Institutional investors own 58.61% of the company’s stock.

About New Fortress Energy

New Fortress Energy Inc is an energy infrastructure company that develops, owns and operates facilities used to produce, transport, store and deliver natural gas and liquefied natural gas (LNG). Its operations are designed to provide reliable energy to utilities, industrial customers, power generators and other end users that may not have access to traditional pipeline gas infrastructure.

The company’s activities include LNG liquefaction, marine transportation, regasification and natural gas distribution, as well as the development and operation of natural gas-fired power generation facilities.