Wall Street Zen Upgrades New Fortress Energy (NASDAQ:NFE) to Hold

New Fortress Energy (NASDAQ:NFE) was upgraded by analysts at Wall Street Zen to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of New Fortress Energy in a report on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.

New Fortress Energy Price Performance

Shares of NASDAQ:NFE opened at $12.22 on Friday. The firm has a market cap of $69.78 million, a PE ratio of -4.53 and a beta of 1.35. The firm’s fifty day moving average is $15.20 and its 200-day moving average is $26.30. The company has a debt-to-equity ratio of 3.57, a quick ratio of 0.15 and a current ratio of 0.16. New Fortress Energy has a 52 week low of $11.25 and a 52 week high of $154.00.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Thursday, August 6th. The company reported ($1.30) EPS for the quarter, beating the consensus estimate of ($10.50) by $9.20. The business had revenue of $312.50 million for the quarter, compared to analysts’ expectations of $511.60 million. New Fortress Energy had a negative return on equity of 795.34% and a negative net margin of 149.40%. Sell-side analysts predict that New Fortress Energy will post -59.5 earnings per share for the current year.

Hedge Funds Weigh In On New Fortress Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. NINE MASTS CAPITAL Ltd purchased a new position in New Fortress Energy in the second quarter valued at approximately $304,000. Primecap Management Co. CA purchased a new stake in New Fortress Energy in the second quarter worth $33,000. X Square Capital LLC purchased a new stake in New Fortress Energy in the second quarter worth $33,000. Bank of New York Mellon Corp bought a new stake in shares of New Fortress Energy in the second quarter valued at $59,000. Finally, Lazard Asset Management LLC lifted its position in shares of New Fortress Energy by 1,765.5% during the 1st quarter. Lazard Asset Management LLC now owns 1,614,029 shares of the company’s stock valued at $952,000 after buying an additional 1,527,509 shares during the last quarter. 58.61% of the stock is owned by hedge funds and other institutional investors.

About New Fortress Energy

New Fortress Energy Inc (NASDAQ:NFE) is an energy infrastructure company that develops, owns and operates natural gas and liquefied natural gas (LNG) facilities. Its activities span the LNG value chain, including natural gas procurement, liquefaction, transportation, storage, regasification and delivery to customers.

The company provides LNG and natural gas through a network of terminals, pipelines, floating storage and regasification units, and related infrastructure. It also develops and operates gas-fired power generation facilities, supplying electricity and fuel to utilities, commercial and industrial customers, and other users seeking alternatives to more carbon-intensive energy sources.

Founded in 2014, New Fortress Energy has developed projects in the United States, the Caribbean and Latin America, including infrastructure serving markets such as Puerto Rico, Jamaica, Mexico and Brazil.