Analysts Set New Fortress Energy LLC (NASDAQ:NFE) Target Price at $6.60

New Fortress Energy LLC (NASDAQ:NFE) has received an average rating of “Reduce” from the seven analysts that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $6.25.

A number of equities analysts have commented on NFE shares. Zacks Research raised New Fortress Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Wall Street Zen lowered New Fortress Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th.

New Fortress Energy Stock Performance

NASDAQ NFE opened at $0.60 on Thursday. New Fortress Energy has a 1-year low of $0.56 and a 1-year high of $4.96. The company has a 50 day moving average of $0.73 and a 200-day moving average of $1.07. The company has a current ratio of 0.13, a quick ratio of 0.11 and a debt-to-equity ratio of 3.57. The firm has a market cap of $171.84 million, a price-to-earnings ratio of -0.27 and a beta of 1.34.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Thursday, May 14th. The company reported ($1.40) EPS for the quarter, missing the consensus estimate of ($0.19) by ($1.21). The business had revenue of $226.95 million during the quarter, compared to analyst estimates of $508.60 million. New Fortress Energy had a negative return on equity of 253.73% and a negative net margin of 164.16%. On average, equities analysts forecast that New Fortress Energy will post -1.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New Fortress Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its position in shares of New Fortress Energy by 5.0% during the second quarter. California State Teachers Retirement System now owns 97,267 shares of the company’s stock worth $323,000 after purchasing an additional 4,663 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of New Fortress Energy by 244.7% in the second quarter. Osaic Holdings Inc. now owns 11,566 shares of the company’s stock valued at $39,000 after purchasing an additional 8,211 shares in the last quarter. Stonehill Capital Management LLC raised its position in New Fortress Energy by 2.0% in the 4th quarter. Stonehill Capital Management LLC now owns 465,191 shares of the company’s stock worth $530,000 after purchasing an additional 9,252 shares during the last quarter. Cetera Investment Advisers raised its position in New Fortress Energy by 31.9% in the 4th quarter. Cetera Investment Advisers now owns 39,531 shares of the company’s stock worth $45,000 after purchasing an additional 9,554 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings 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. Institutional investors and hedge funds own 58.61% of the company’s stock.

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.