New Fortress Energy LLC (NASDAQ:NFE) Given Consensus Recommendation of “Reduce” by Brokerages

New Fortress Energy LLC (NASDAQ:NFE) has earned a consensus recommendation of “Reduce” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $6.25.

Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of New Fortress Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Zacks Research upgraded shares of New Fortress Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC raised its position in New Fortress Energy by 1,765.5% in the 1st quarter. Lazard Asset Management LLC now owns 1,614,029 shares of the company’s stock worth $952,000 after purchasing an additional 1,527,509 shares during the last quarter. Wealthfront Advisers LLC raised its position in New Fortress Energy by 7.3% in the 1st quarter. Wealthfront Advisers LLC now owns 195,946 shares of the company’s stock worth $116,000 after purchasing an additional 13,343 shares during the last quarter. Bank of New York Mellon Corp raised its position in New Fortress Energy by 3.1% in the 1st quarter. Bank of New York Mellon Corp now owns 556,407 shares of the company’s stock worth $328,000 after purchasing an additional 16,991 shares during the last quarter. Lee Danner & Bass Inc. bought a new position in New Fortress Energy in the 1st quarter worth approximately $173,000. Finally, Leonteq Securities AG grew its holdings in New Fortress Energy by 151.7% during the 1st quarter. Leonteq Securities AG now owns 82,447 shares of the company’s stock worth $49,000 after acquiring an additional 49,694 shares during the period. Institutional investors own 58.61% of the company’s stock.

New Fortress Energy Stock Performance

NASDAQ:NFE opened at $0.66 on Thursday. New Fortress Energy has a 1 year low of $0.56 and a 1 year high of $4.96. The firm has a 50 day moving average of $0.75 and a 200-day moving average of $1.08. The company has a current ratio of 0.13, a quick ratio of 0.11 and a debt-to-equity ratio of 3.57. The stock has a market capitalization of $188.58 million, a P/E ratio of -0.42 and a beta of 1.34.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($1.40) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($1.21). New Fortress Energy had a negative return on equity of 253.73% and a negative net margin of 164.16%.The company had revenue of $226.95 million during the quarter, compared to the consensus estimate of $508.60 million. As a group, sell-side analysts anticipate that New Fortress Energy will post -1.25 EPS for the current fiscal year.

About New Fortress Energy

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.