New Fortress Energy (NASDAQ:NFE) Trading 9.1% Higher – Still a Buy?

New Fortress Energy Inc. (NASDAQ:NFE) shares shot up 9.1% during trading on Monday . The stock traded as high as $12.10 and last traded at $12.19. 2,907,598 shares were traded during trading, a decline of 28% from the average session volume of 4,054,472 shares. The stock had previously closed at $11.17.

Wall Street Analysts Forecast Growth

NFE has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a research report on Wednesday, March 12th. Stifel Nicolaus reduced their price target on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Finally, Morgan Stanley reduced their price objective on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $15.00.

New Fortress Energy Trading Down 7.0 %

The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 12.16 and a beta of 1.58. The company has a fifty day moving average price of $12.20 and a 200-day moving average price of $11.36.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.07. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The company had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. On average, equities research analysts predict that New Fortress Energy Inc. will post 0.36 EPS for the current year.

Insider Activity

In other New Fortress Energy news, CFO Christopher S. Guinta purchased 5,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the transaction, the chief financial officer now owns 206,653 shares in the company, valued at approximately $1,771,016.21. This represents a 2.48 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 37.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Stifel Financial Corp bought a new position in shares of New Fortress Energy during the 3rd quarter worth approximately $990,000. Redwood Wealth Management Group LLC acquired a new stake in New Fortress Energy in the fourth quarter worth $749,000. Y Intercept Hong Kong Ltd bought a new stake in New Fortress Energy in the fourth quarter valued at $1,252,000. GSG Advisors LLC acquired a new stake in shares of New Fortress Energy in the 4th quarter valued at about $605,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of New Fortress Energy in the 4th quarter worth $8,316,000. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Company Profile

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.