New Fortress Energy LLC (NASDAQ:NFE) Receives $7.86 Average PT from Analysts

New Fortress Energy LLC (NASDAQ:NFE) has earned a consensus rating of “Hold” from the nine analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.8571.

A number of analysts recently commented on the company. Zacks Research upgraded New Fortress Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings restated a “sell (d)” rating on shares of New Fortress Energy in a report on Monday, December 29th.

New Fortress Energy Price Performance

NFE stock opened at $0.59 on Wednesday. New Fortress Energy has a 1 year low of $0.56 and a 1 year high of $8.58. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.15 and a current ratio of 0.17. The stock’s 50 day moving average price is $1.15 and its 200 day moving average price is $1.40. The firm has a market cap of $167.88 million, a P/E ratio of -0.15 and a beta of 1.04.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Thursday, January 1st. The company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.40). New Fortress Energy had a negative return on equity of 43.91% and a negative net margin of 72.92%.The company had revenue of $327.37 million for the quarter, compared to analysts’ expectations of $716.89 million. During the same period in the previous year, the business posted $0.03 EPS. The business’s quarterly revenue was down 42.3% on a year-over-year basis. On average, sell-side analysts expect that New Fortress Energy will post 0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On New Fortress Energy

Several institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC grew its stake in New Fortress Energy by 71.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,661,857 shares of the company’s stock worth $12,159,000 after acquiring an additional 1,522,324 shares during the period. Long Focus Capital Management LLC lifted its stake in shares of 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 period. Tejara Capital Ltd lifted its stake in shares of New Fortress Energy by 98.4% during the 2nd quarter. Tejara Capital Ltd now owns 1,032,773 shares of the company’s stock worth $3,429,000 after purchasing an additional 512,173 shares during the period. Norges Bank acquired a new stake in shares of New Fortress Energy during the second quarter worth $5,278,000. Finally, ProShare Advisors LLC acquired a new stake in shares of New Fortress Energy during the second quarter worth $148,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

New Fortress Energy Company Profile

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.