New Fortress Energy LLC (NASDAQ:NFE) Given Average Rating of “Hold” by Brokerages

Shares of New Fortress Energy LLC (NASDAQ:NFE) have been assigned an average rating of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $7.8750.

Several brokerages recently commented on NFE. Zacks Research downgraded shares of New Fortress Energy from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Weiss Ratings restated a “sell (d)” rating on shares of New Fortress Energy in a research note on Monday, December 29th.

New Fortress Energy Price Performance

Shares of NASDAQ:NFE opened at $1.40 on Friday. The stock has a market capitalization of $398.37 million, a P/E ratio of -0.37 and a beta of 1.05. The business has a 50-day moving average of $1.23 and a two-hundred day moving average of $2.10. New Fortress Energy has a fifty-two week low of $0.98 and a fifty-two week high of $16.66. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.17 and a quick ratio of 0.15.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Thursday, January 1st. The company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.40). New Fortress Energy had a negative net margin of 72.92% and a negative return on equity of 43.91%. The company had revenue of $327.37 million during the quarter, compared to the consensus estimate of $716.89 million. During the same period in the previous year, the business posted $0.03 earnings per share. The firm’s revenue was down 42.3% on a year-over-year basis. On average, equities research analysts predict that New Fortress Energy will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On New Fortress Energy

Several large investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC bought a new stake in New Fortress Energy in the 4th quarter valued at $26,000. Savant Capital LLC acquired a new position in shares of New Fortress Energy during the third quarter valued at about $28,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of New Fortress Energy in the third quarter valued at about $29,000. IFP Advisors Inc lifted its stake in shares of 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 during the period. Finally, one8zero8 LLC acquired a new stake in New Fortress Energy during the third quarter worth about $31,000. 58.61% of the stock is currently owned by institutional investors and hedge funds.

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.