New Fortress Energy LLC (NASDAQ:NFE) Receives $7.88 Consensus Price Target from Analysts

Shares of New Fortress Energy LLC (NASDAQ:NFE) have been assigned an average recommendation of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $7.8750.

Several equities analysts recently issued reports on NFE shares. Zacks Research downgraded shares of New Fortress Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of New Fortress Energy in a report on Tuesday, October 14th. Finally, Capital One Financial reaffirmed an “underweight” rating on shares of New Fortress Energy in a research note on Monday, September 8th.

Institutional Trading of New Fortress Energy

Hedge funds have recently added to or reduced their stakes in the business. Rubric Capital Management LP raised its position in shares of New Fortress Energy by 1.5% during the third quarter. Rubric Capital Management LP now owns 24,767,087 shares of the company’s stock worth $54,735,000 after purchasing an additional 367,087 shares during the period. Vanguard Group Inc. lifted its holdings in shares of New Fortress Energy by 22.6% in the first quarter. Vanguard Group Inc. now owns 13,879,490 shares of the company’s stock valued at $115,339,000 after purchasing an additional 2,560,242 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of New Fortress Energy by 0.7% during the second quarter. Primecap Management Co. CA now owns 13,132,578 shares of the company’s stock worth $43,600,000 after buying an additional 90,180 shares during the period. Long Focus Capital Management LLC boosted its position in New Fortress Energy by 43.7% during the 3rd quarter. Long Focus Capital Management LLC now owns 7,400,000 shares of the company’s stock worth $16,354,000 after acquiring an additional 2,250,000 shares during the last quarter. Finally, Shay Capital LLC boosted its position in New Fortress Energy by 272.1% during the 3rd quarter. Shay Capital LLC now owns 5,675,000 shares of the company’s stock worth $12,542,000 after acquiring an additional 4,150,000 shares during the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Trading Up 11.1%

Shares of NFE stock opened at $1.30 on Monday. The business’s 50 day moving average is $1.43 and its two-hundred day moving average is $2.30. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.08. The company has a market capitalization of $369.92 million, a P/E ratio of -0.34 and a beta of 1.11. New Fortress Energy has a twelve month low of $0.98 and a twelve month high of $16.66.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Wednesday, June 18th. The company reported $0.13 EPS for the quarter. New Fortress Energy had a negative net margin of 72.92% and a negative return on equity of 43.91%. The firm had revenue of $679.00 million during the quarter. Equities analysts forecast that New Fortress Energy will post 0.36 EPS for the current year.

About New Fortress Energy

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.