New Fortress Energy LLC (NASDAQ:NFE) Receives $7.88 Average Price Target from Brokerages

New Fortress Energy LLC (NASDAQ:NFE) has been assigned an average rating of “Hold” from the nine brokerages that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $7.8750.

A number of research analysts recently weighed in on NFE shares. Weiss Ratings reiterated a “sell (d)” rating on shares of New Fortress Energy in a research note on Monday, December 29th. Zacks Research raised New Fortress Energy from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd.

Institutional Trading of New Fortress Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC purchased a new stake in shares of New Fortress Energy in the 1st quarter valued at about $390,000. Goldman Sachs Group Inc. lifted its position in New Fortress Energy by 133.4% during the first quarter. Goldman Sachs Group Inc. now owns 865,826 shares of the company’s stock valued at $7,195,000 after purchasing an additional 494,848 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in New Fortress Energy by 42.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 280,706 shares of the company’s stock valued at $2,333,000 after purchasing an additional 83,279 shares during the last quarter. Corton Capital Inc. grew its stake in New Fortress Energy by 203.4% in the 2nd quarter. Corton Capital Inc. now owns 42,581 shares of the company’s stock worth $141,000 after buying an additional 28,548 shares in the last quarter. Finally, Yelin Lapidot Holdings Management Ltd. bought a new position in shares of New Fortress Energy in the 2nd quarter worth $57,000. Institutional investors own 58.61% of the company’s stock.

New Fortress Energy Trading Down 7.6%

Shares of New Fortress Energy stock opened at $1.10 on Friday. The stock has a market capitalization of $313.01 million, a P/E ratio of -0.29 and a beta of 1.04. New Fortress Energy has a 52-week low of $0.98 and a 52-week high of $12.59. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.15 and a current ratio of 0.17. The stock’s 50-day simple moving average is $1.27 and its 200 day simple moving average is $1.57.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results on Thursday, January 1st. The company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.40). New Fortress Energy had a negative return on equity of 43.91% and a negative net margin of 72.92%.The business had revenue of $327.37 million for the quarter, compared to the consensus estimate of $716.89 million. During the same quarter in the prior year, the business earned $0.03 EPS. New Fortress Energy’s revenue for the quarter was down 42.3% compared to the same quarter last year. As a group, research analysts anticipate that New Fortress Energy will post 0.36 EPS for the current year.

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.