Shares of New Fortress Energy LLC (NASDAQ:NFE) have earned an average recommendation of “Buy” from the ten analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $21.80.
NFE has been the subject of a number of recent research reports. Zacks Investment Research raised New Fortress Energy from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Thursday. BTIG Research initiated coverage on New Fortress Energy in a research note on Tuesday, October 1st. They set a “buy” rating and a $30.00 price target for the company. Barclays set a $18.00 price target on New Fortress Energy and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $25.00 price target on shares of New Fortress Energy in a research note on Friday, September 20th. Finally, Citigroup raised their price target on New Fortress Energy from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, September 30th.
New Fortress Energy stock traded up $0.10 during mid-day trading on Thursday, hitting $15.51. The company’s stock had a trading volume of 610 shares, compared to its average volume of 61,304. The firm’s 50 day moving average is $15.72 and its 200 day moving average is $15.35. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.27. New Fortress Energy has a 52-week low of $8.90 and a 52-week high of $19.50.
New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings results on Monday, November 11th. The company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.07). New Fortress Energy had a negative return on equity of 14.58% and a negative net margin of 40.60%. The firm had revenue of $49.66 million for the quarter, compared to analysts’ expectations of $40.41 million. As a group, analysts expect that New Fortress Energy will post -1.29 EPS for the current fiscal year.
In related news, Director Katherine Wanner bought 1,800 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average price of $15.52 per share, for a total transaction of $27,936.00. Also, Director C. William Griffin bought 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were bought at an average price of $16.23 per share, with a total value of $194,760.00.
Several institutional investors have recently bought and sold shares of the stock. Morgan Stanley raised its position in New Fortress Energy by 51.7% in the 2nd quarter. Morgan Stanley now owns 3,754 shares of the company’s stock valued at $44,000 after purchasing an additional 1,280 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. bought a new position in New Fortress Energy in the 2nd quarter valued at $30,000. Price T Rowe Associates Inc. MD raised its position in New Fortress Energy by 0.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,200,279 shares of the company’s stock valued at $14,055,000 after purchasing an additional 3,384 shares during the last quarter. Wells Fargo & Company MN bought a new position in New Fortress Energy in the 2nd quarter valued at $123,000. Finally, Endurance Wealth Management Inc. raised its position in New Fortress Energy by 107.7% in the 3rd quarter. Endurance Wealth Management Inc. now owns 54,000 shares of the company’s stock valued at $974,000 after purchasing an additional 28,000 shares during the last quarter. Institutional investors and hedge funds own 7.29% of the company’s stock.
About New Fortress Energy
New Fortress Energy LLC operates as an integrated gas-to-power company. The company's activities include natural gas procurement and liquefaction; provision of logistics and shipping services; development and operation of terminals; and conversion or development of natural gas-fired generation. It intends to serve power, transportation, and industrial users of natural gas and LNG.
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