New Fortress Energy (NASDAQ:NFE) Issues Quarterly Earnings Results

New Fortress Energy (NASDAQ:NFE) announced its earnings results on Thursday. The company reported ($1.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($1.09), Zacks reports. The firm had revenue of $312.50 million for the quarter, compared to analyst estimates of $511.60 million. New Fortress Energy had a negative net margin of 164.16% and a negative return on equity of 253.73%.

New Fortress Energy Stock Up 3.1%

NASDAQ NFE traded up $0.01 on Friday, reaching $0.35. The stock had a trading volume of 1,662,103 shares, compared to its average volume of 2,049,371. The company has a current ratio of 0.13, a quick ratio of 0.11 and a debt-to-equity ratio of 3.57. New Fortress Energy has a 1 year low of $0.32 and a 1 year high of $3.10. The business has a 50 day moving average price of $0.40 and a 200 day moving average price of $0.75. The company has a market capitalization of $101.12 million, a price-to-earnings ratio of -0.16 and a beta of 1.36.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of New Fortress Energy in a research report on Friday, July 17th. Wall Street Zen lowered New Fortress Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $4.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Daiwa Securities Group Inc. lifted its stake in shares of New Fortress Energy by 85.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 26,086 shares of the company’s stock valued at $30,000 after purchasing an additional 11,992 shares during the last quarter. Vise Technologies Inc. acquired a new position in New Fortress Energy during the fourth quarter worth $37,000. Osaic Holdings Inc. raised its holdings in New Fortress Energy by 244.7% during the second quarter. Osaic Holdings Inc. now owns 11,566 shares of the company’s stock valued at $39,000 after buying an additional 8,211 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in New Fortress Energy during the third quarter valued at about $40,000. Finally, IFP Advisors Inc lifted its position in shares of New Fortress Energy by 107.1% in the third quarter. IFP Advisors Inc now owns 18,785 shares of the company’s stock worth $42,000 after buying an additional 9,713 shares during the last quarter. Institutional investors 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.