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

New Fortress Energy LLC (NASDAQ:NFE) has earned an average recommendation of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $7.8750.

Several brokerages recently commented on NFE. Zacks Research upgraded shares of New Fortress Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. 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

NFE stock opened at $1.24 on Tuesday. The business has a 50 day moving average price of $1.30 and a 200 day moving average price of $1.84. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.08. The stock has a market cap of $352.85 million, a price-to-earnings ratio of -0.32 and a beta of 1.03. New Fortress Energy has a fifty-two week low of $0.98 and a fifty-two week high of $14.07.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Ballentine Partners LLC purchased a new stake in New Fortress Energy in the fourth quarter valued at approximately $33,000. Citizens Financial Group Inc. RI acquired a new position in shares of New Fortress Energy in the 4th quarter valued at $77,000. Wealthfront Advisers LLC purchased a new stake in New Fortress Energy in the 4th quarter valued at $208,000. Mitsubishi UFJ Trust & Banking Corp raised its position in New Fortress Energy by 24.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 74,059 shares of the company’s stock valued at $84,000 after purchasing an additional 14,443 shares during the last quarter. Finally, UBS Group AG boosted its stake in New Fortress Energy by 131.9% during the 4th quarter. UBS Group AG now owns 2,220,203 shares of the company’s stock worth $2,531,000 after purchasing an additional 1,262,862 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.

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.