Zacks Investment Research upgraded shares of New Fortress Energy (NASDAQ:NFE) from a sell rating to a hold rating in a research report report published on Saturday, Zacks.com reports.

According to Zacks, “New Fortress Energy LLC operates as an integrated gas-to-power company. It develops, finances and constructs energy infrastructure assets. New Fortress Energy LLC is based in New York, United States. “

NFE has been the topic of a number of other reports. Barclays set a $11.00 target price on New Fortress Energy and gave the stock a hold rating in a research note on Thursday, March 28th. JMP Securities began coverage on New Fortress Energy in a research note on Monday, February 25th. They issued a mkt outperform rating and a $18.00 target price on the stock. Citigroup began coverage on New Fortress Energy in a research note on Monday, February 25th. They issued a buy rating on the stock. Evercore ISI began coverage on New Fortress Energy in a research note on Monday, February 25th. They issued an outperform rating and a $23.00 target price on the stock. Finally, Credit Suisse Group began coverage on New Fortress Energy in a research note on Monday, February 25th. They issued a neutral rating and a $17.00 target price on the stock. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. New Fortress Energy presently has a consensus rating of Buy and an average target price of $19.43.

NASDAQ NFE opened at $10.18 on Friday. New Fortress Energy has a 1 year low of $8.90 and a 1 year high of $16.11.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.96) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.73). The business had revenue of $29.95 million for the quarter, compared to analysts’ expectations of $50.71 million. On average, equities research analysts expect that New Fortress Energy will post -0.87 EPS for the current year.

In other news, CEO Wesley R. Edens acquired 592,100 shares of New Fortress Energy stock in a transaction dated Thursday, March 28th. The shares were purchased at an average cost of $9.84 per share, for a total transaction of $5,826,264.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David J. Grain acquired 4,500 shares of New Fortress Energy stock in a transaction dated Monday, April 1st. The shares were purchased at an average price of $11.29 per share, for a total transaction of $50,805.00. The disclosure for this purchase can be found here. Insiders acquired a total of 1,232,199 shares of company stock worth $12,284,841 over the last 90 days.

Institutional investors have recently made changes to their positions in the company. Emerald Mutual Fund Advisers Trust bought a new position in shares of New Fortress Energy during the 1st quarter valued at about $9,129,000. Dean Capital Investments Management LLC bought a new position in shares of New Fortress Energy during the 1st quarter valued at about $536,000. Federated Investors Inc. PA bought a new position in shares of New Fortress Energy during the 1st quarter valued at about $13,194,000. Tortoise Index Solutions LLC bought a new position in shares of New Fortress Energy during the 1st quarter valued at about $257,000. Finally, Morgan Stanley bought a new position in shares of New Fortress Energy during the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 6.57% of the company’s stock.

About New Fortress Energy

New Fortress Energy LLC operates as an integrated gas-to-power company. The company's activities include natural gas procurement and liquefaction; provision of logistics and shipping services; development and operation of terminals; and conversion or development of natural gas-fired generation. It intends to serve power, transportation, and industrial users of natural gas and LNG.

Featured Article: Book Value Per Share – BVPS

Get a free copy of the Zacks research report on New Fortress Energy (NFE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for New Fortress Energy (NASDAQ:NFE)

Receive News & Ratings for New Fortress Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Fortress Energy and related companies with MarketBeat.com's FREE daily email newsletter.