According to Zacks, “New Fortress Energy LLC operates as an integrated gas-to-power company. It develops, finances and constructs energy infrastructure assets. New Fortress Energy LLC is based in New York, United States. “
A number of other brokerages have also recently issued reports on NFE. JMP Securities cut their price objective on New Fortress Energy from $20.00 to $19.00 and set a market outperform rating for the company in a report on Thursday, May 16th. Barclays set a $54.00 price objective on Lennar and gave the company a buy rating in a report on Thursday, March 28th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $19.43.
Shares of NASDAQ NFE opened at $11.70 on Thursday. The firm’s fifty day moving average is $11.11. New Fortress Energy has a 52-week low of $8.90 and a 52-week high of $16.11.
New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.73). The business had revenue of $29.95 million during the quarter, compared to the consensus estimate of $50.71 million. On average, equities research analysts anticipate that New Fortress Energy will post -0.87 EPS for the current year.
In other New Fortress Energy news, Director David J. Grain purchased 28,365 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was acquired at an average cost of $12.65 per share, with a total value of $358,817.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Katherine Wanner purchased 2,100 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was acquired at an average cost of $12.15 per share, with a total value of $25,515.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 55,599 shares of company stock valued at $694,772.
Institutional investors have recently added to or reduced their stakes in the stock. Tortoise Index Solutions LLC bought a new position in shares of New Fortress Energy in the first quarter valued at about $257,000. Dean Capital Investments Management LLC bought a new position in shares of New Fortress Energy in the first quarter valued at about $536,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of New Fortress Energy in the first quarter valued at about $9,129,000. Finally, Federated Investors Inc. PA bought a new position in shares of New Fortress Energy in the first quarter valued at about $13,194,000. 6.57% of the stock is owned by institutional investors and hedge funds.
New Fortress Energy Company Profile
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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