New Fortress Energy LLC (NASDAQ:NFE) Given Consensus Rating of “Hold” by Analysts

New Fortress Energy LLC (NASDAQ:NFE) has earned an average recommendation of “Hold” from the nine analysts that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $7.8750.

NFE has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of New Fortress Energy in a research report on Monday, December 29th. Zacks Research cut shares of New Fortress Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th.

New Fortress Energy Stock Performance

Shares of NASDAQ NFE opened at $1.26 on Friday. The stock has a market cap of $358.53 million, a PE ratio of -0.33 and a beta of 1.05. New Fortress Energy has a 1 year low of $0.98 and a 1 year high of $16.66. The firm has a fifty day moving average price of $1.23 and a 200-day moving average price of $2.11. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.17 and a quick ratio of 0.15.

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 the consensus estimate of ($0.67) by ($0.40). The firm had revenue of $327.37 million during the quarter, compared to the consensus estimate of $716.89 million. New Fortress Energy had a negative return on equity of 43.91% and a negative net margin of 72.92%.The company’s quarterly revenue was down 42.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 EPS. Equities analysts anticipate that New Fortress Energy will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NFE. Goldman Sachs Group Inc. raised its position in New Fortress Energy by 133.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 865,826 shares of the company’s stock worth $7,195,000 after purchasing an additional 494,848 shares during the period. King Luther Capital Management Corp raised its holdings in shares of New Fortress Energy by 100.0% in the second quarter. King Luther Capital Management Corp now owns 2,042,000 shares of the company’s stock worth $6,779,000 after buying an additional 1,021,000 shares during the period. Geode Capital Management LLC lifted its stake in shares of New Fortress Energy by 71.2% during the 2nd quarter. Geode Capital Management LLC now owns 3,661,857 shares of the company’s stock worth $12,159,000 after acquiring an additional 1,522,324 shares during the last quarter. Catalyst Capital Advisors LLC boosted its holdings in New Fortress Energy by 38.5% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 1,258,485 shares of the company’s stock valued at $4,178,000 after acquiring an additional 350,000 shares during the period. Finally, Tejara Capital Ltd grew its position in New Fortress Energy by 98.4% in the 2nd quarter. Tejara Capital Ltd now owns 1,032,773 shares of the company’s stock valued at $3,429,000 after acquiring an additional 512,173 shares during the last quarter. Institutional investors own 58.61% of the company’s stock.

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.