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

Wall Street Zen cut shares of New Fortress Energy (NASDAQ:NFE) from a sell rating to a strong sell rating in a research note released on Saturday morning.

NFE has been the subject of a number of other research reports. Zacks Research raised shares of New Fortress Energy from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of New Fortress Energy in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, New Fortress Energy has a consensus rating of “Hold” and an average target price of $7.83.

New Fortress Energy Stock Performance

NASDAQ NFE opened at $0.68 on Friday. The firm has a market cap of $193.12 million, a price-to-earnings ratio of -0.18 and a beta of 1.24. The company has a 50 day moving average of $0.94 and a 200-day moving average of $1.26. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.08. New Fortress Energy has a 1-year low of $0.56 and a 1-year high of $7.37.

Institutional Investors Weigh In On New Fortress Energy

Institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its position in New Fortress Energy by 5.0% during the 2nd quarter. California State Teachers Retirement System now owns 97,267 shares of the company’s stock worth $323,000 after buying an additional 4,663 shares in the last quarter. Osaic Holdings Inc. lifted its position in New Fortress Energy by 244.7% during the 2nd quarter. Osaic Holdings Inc. now owns 11,566 shares of the company’s stock worth $39,000 after buying an additional 8,211 shares in the last quarter. Stonehill Capital Management LLC lifted its position in New Fortress Energy by 2.0% during the 4th quarter. Stonehill Capital Management LLC now owns 465,191 shares of the company’s stock worth $530,000 after buying an additional 9,252 shares in the last quarter. Cetera Investment Advisers lifted its position in New Fortress Energy by 31.9% during the 4th quarter. Cetera Investment Advisers now owns 39,531 shares of the company’s stock worth $45,000 after buying an additional 9,554 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in New Fortress Energy by 107.1% during the 3rd quarter. IFP Advisors Inc now owns 18,785 shares of the company’s stock worth $42,000 after buying an additional 9,713 shares in the last quarter. 58.61% of the stock is owned by institutional investors.

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.