New Fortress Energy (NASDAQ:NFE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of New Fortress Energy (NASDAQ:NFE) to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of New Fortress Energy in a research note on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce”.

New Fortress Energy Stock Performance

NASDAQ NFE opened at $10.82 on Friday. The company has a market cap of $61.78 million, a P/E ratio of -4.01 and a beta of 1.35. The company has a debt-to-equity ratio of 3.57, a quick ratio of 0.15 and a current ratio of 0.16. The business’s 50 day moving average price is $15.07 and its 200-day moving average price is $25.95. New Fortress Energy has a fifty-two week low of $10.80 and a fifty-two week high of $154.00.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($1.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($10.50) by $9.20. The company had revenue of $312.50 million during the quarter, compared to the consensus estimate of $511.60 million. New Fortress Energy had a negative return on equity of 795.34% and a negative net margin of 149.40%. Sell-side analysts predict that New Fortress Energy will post -59.5 earnings per share for the current year.

Institutional Investors Weigh In On New Fortress Energy

A number of institutional investors and hedge funds have recently modified their holdings of NFE. Deltroit Asset Management UK LLP acquired a new stake in New Fortress Energy in the 4th quarter worth approximately $2,052,000. Lazard Asset Management LLC increased its stake in New Fortress Energy by 1,765.5% during the 1st quarter. Lazard Asset Management LLC now owns 1,614,029 shares of the company’s stock valued at $952,000 after purchasing an additional 1,527,509 shares in the last quarter. UBS Group AG raised its holdings in shares of New Fortress Energy by 131.9% in the fourth quarter. UBS Group AG now owns 2,220,203 shares of the company’s stock worth $2,531,000 after buying an additional 1,262,862 shares during the last quarter. NINE MASTS CAPITAL Ltd purchased a new position in shares of New Fortress Energy in the second quarter worth $304,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of New Fortress Energy during the first quarter worth $173,000. 58.61% of the stock is owned by institutional investors.

New Fortress Energy Company Profile

New Fortress Energy Inc (NASDAQ:NFE) is an energy infrastructure company that develops, owns and operates natural gas and liquefied natural gas (LNG) facilities. Its activities span the LNG value chain, including natural gas procurement, liquefaction, transportation, storage, regasification and delivery to customers.

The company provides LNG and natural gas through a network of terminals, pipelines, floating storage and regasification units, and related infrastructure. It also develops and operates gas-fired power generation facilities, supplying electricity and fuel to utilities, commercial and industrial customers, and other users seeking alternatives to more carbon-intensive energy sources.

Founded in 2014, New Fortress Energy has developed projects in the United States, the Caribbean and Latin America, including infrastructure serving markets such as Puerto Rico, Jamaica, Mexico and Brazil.