New Fortress Energy LLC (NASDAQ:NFE) Receives $7.88 Consensus PT from Brokerages

Shares of New Fortress Energy LLC (NASDAQ:NFE) have been assigned an average recommendation of “Hold” from the ten research firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $7.8750.

Several analysts have weighed in on the stock. Zacks Research downgraded shares of New Fortress Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Capital One Financial reiterated an “underweight” rating on shares of New Fortress Energy in a report on Monday, September 8th. Johnson Rice lowered New Fortress Energy from a “buy” rating to a “hold” rating and lowered their target price for the company from $7.00 to $4.00 in a research note on Wednesday, August 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of New Fortress Energy in a research report on Tuesday, October 14th.

New Fortress Energy Stock Down 17.1%

Shares of NFE opened at $1.21 on Thursday. New Fortress Energy has a 1 year low of $0.98 and a 1 year high of $16.66. The company has a debt-to-equity ratio of 5.77, a current ratio of 0.67 and a quick ratio of 0.64. The stock has a 50 day simple moving average of $1.77 and a two-hundred day simple moving average of $2.65. The firm has a market cap of $344.31 million, a P/E ratio of -0.32 and a beta of 1.20.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Wednesday, June 18th. The company reported $0.13 earnings per share for the quarter. New Fortress Energy had a negative net margin of 48.94% and a negative return on equity of 22.72%. The firm had revenue of $679.00 million during the quarter. On average, analysts forecast that New Fortress Energy will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NFE. Shay Capital LLC raised its holdings in New Fortress Energy by 272.1% during the 3rd quarter. Shay Capital LLC now owns 5,675,000 shares of the company’s stock valued at $12,542,000 after buying an additional 4,150,000 shares during the last quarter. Vanguard Group Inc. increased its position in shares of New Fortress Energy by 22.6% in the first quarter. Vanguard Group Inc. now owns 13,879,490 shares of the company’s stock valued at $115,339,000 after acquiring an additional 2,560,242 shares during the period. Long Focus Capital Management LLC raised its stake in shares of New Fortress Energy by 43.7% during the third quarter. Long Focus Capital Management LLC now owns 7,400,000 shares of the company’s stock valued at $16,354,000 after acquiring an additional 2,250,000 shares during the last quarter. American Assets Investment Management LLC boosted its holdings in shares of New Fortress Energy by 888.8% during the first quarter. American Assets Investment Management LLC now owns 1,859,106 shares of the company’s stock worth $15,449,000 after purchasing an additional 1,671,094 shares during the period. Finally, Norges Bank purchased a new stake in shares of New Fortress Energy during the second quarter worth about $5,278,000. Institutional investors own 58.61% of the company’s stock.

About New Fortress Energy

New Fortress Energy Inc operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide. The company operates in two segments, Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.