Brokerages Set New Fortress Energy LLC (NASDAQ:NFE) Price Target at $7.88

Shares of New Fortress Energy LLC (NASDAQ:NFE) have received a consensus recommendation of “Hold” from the ten research firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $7.8750.

Several research analysts recently issued reports on the stock. Zacks Research cut shares of New Fortress Energy from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Compass Point assumed coverage on shares of New Fortress Energy in a report on Tuesday, July 1st. They set a “buy” rating and a $8.50 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of New Fortress Energy in a report on Tuesday, October 14th. Johnson Rice cut shares of New Fortress Energy from a “buy” rating to a “hold” rating and cut their price objective for the company from $7.00 to $4.00 in a report on Wednesday, August 13th. Finally, Capital One Financial reaffirmed an “underweight” rating on shares of New Fortress Energy in a report on Monday, September 8th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE increased its holdings in New Fortress Energy by 81.7% in the first quarter. US Bancorp DE now owns 8,534 shares of the company’s stock valued at $71,000 after buying an additional 3,838 shares in the last quarter. CWM LLC increased its holdings in New Fortress Energy by 46.9% in the first quarter. CWM LLC now owns 9,065 shares of the company’s stock valued at $75,000 after buying an additional 2,895 shares in the last quarter. IFP Advisors Inc increased its holdings in New Fortress Energy by 166.3% in the second quarter. IFP Advisors Inc now owns 9,072 shares of the company’s stock valued at $30,000 after buying an additional 5,665 shares in the last quarter. Apollon Wealth Management LLC purchased a new position in New Fortress Energy in the second quarter valued at $33,000. Finally, MQS Management LLC purchased a new position in New Fortress Energy in the second quarter valued at $33,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

New Fortress Energy Trading Down 2.5%

Shares of New Fortress Energy stock opened at $1.53 on Friday. 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 firm has a fifty day moving average price of $2.10 and a 200 day moving average price of $3.19. New Fortress Energy has a 1 year low of $1.26 and a 1 year high of $16.66. The stock has a market cap of $435.36 million, a PE ratio of -0.40 and a beta of 1.26.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results on Wednesday, June 18th. The company reported $0.13 earnings per share (EPS) 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. Equities research analysts predict that New Fortress Energy will post 0.36 earnings per share for the current year.

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.