New Fortress Energy LLC (NASDAQ:NFE) Given Consensus Recommendation of “Reduce” by Brokerages

New Fortress Energy LLC (NASDAQ:NFE) has received an average rating of “Reduce” from the six ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $7.00.

Separately, 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

New Fortress Energy stock opened at $0.51 on Monday. The company has a debt-to-equity ratio of 3.57, a current ratio of 0.13 and a quick ratio of 0.11. New Fortress Energy has a 1-year low of $0.50 and a 1-year high of $4.96. The firm has a market capitalization of $145.68 million, a P/E ratio of -0.23 and a beta of 1.28. The company’s 50-day moving average is $0.63 and its 200 day moving average is $0.99.

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

Institutional Trading of New Fortress Energy

A number of large investors have recently made changes to their positions in NFE. AQR Capital Management LLC purchased a new position in New Fortress Energy in the 1st quarter worth about $390,000. Goldman Sachs Group Inc. boosted its position in New Fortress Energy by 133.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 865,826 shares of the company’s stock valued at $7,195,000 after buying an additional 494,848 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in New Fortress Energy by 42.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 280,706 shares of the company’s stock worth $2,333,000 after acquiring an additional 83,279 shares in the last quarter. Legal & General Group Plc increased its position in shares of New Fortress Energy by 24.2% during the second quarter. Legal & General Group Plc now owns 140,044 shares of the company’s stock worth $465,000 after acquiring an additional 27,289 shares during the period. Finally, Rhumbline Advisers increased its position in shares of New Fortress Energy by 131.1% during the second quarter. Rhumbline Advisers now owns 234,105 shares of the company’s stock worth $777,000 after acquiring an additional 132,822 shares during the period. 58.61% of the stock is owned by hedge funds and other institutional investors.

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.