Brokerages Set New Fortress Energy LLC (NASDAQ:NFE) Target Price at $7.86

Shares of New Fortress Energy LLC (NASDAQ:NFE) have been given an average recommendation of “Hold” by the nine analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $7.8571.

A number of research analysts recently weighed in on NFE shares. Weiss Ratings restated a “sell (d)” rating on shares of New Fortress Energy in a report on Monday, December 29th. Zacks Research upgraded shares of 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

Several hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System boosted its holdings in New Fortress Energy by 5.0% in the second quarter. California State Teachers Retirement System now owns 97,267 shares of the company’s stock valued at $323,000 after purchasing an additional 4,663 shares during the period. Osaic Holdings Inc. increased its holdings in New Fortress Energy by 244.7% during the 2nd quarter. Osaic Holdings Inc. now owns 11,566 shares of the company’s stock worth $39,000 after purchasing an additional 8,211 shares during the period. Police & Firemen s Retirement System of New Jersey increased its holdings in New Fortress Energy by 14.5% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 69,517 shares of the company’s stock worth $231,000 after purchasing an additional 8,818 shares during the period. Stonehill Capital Management LLC raised its position in New Fortress Energy by 2.0% in the 4th quarter. Stonehill Capital Management LLC now owns 465,191 shares of the company’s stock valued at $530,000 after purchasing an additional 9,252 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of New Fortress Energy by 31.9% in the 4th quarter. Cetera Investment Advisers now owns 39,531 shares of the company’s stock valued at $45,000 after buying an additional 9,554 shares during the period. 58.61% of the stock is currently owned by institutional investors and hedge funds.

New Fortress Energy Price Performance

NFE opened at $0.61 on Wednesday. The stock’s 50-day moving average price is $1.18 and its 200 day moving average price is $1.41. New Fortress Energy has a 12-month low of $0.61 and a 12-month high of $9.24. The firm has a market cap of $173.58 million, a price-to-earnings ratio of -0.16 and a beta of 1.04. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.08.

New Fortress Energy (NASDAQ:NFE) last released 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 analyst estimates of $716.89 million. New Fortress Energy had a negative net margin of 72.92% and a negative return on equity of 43.91%. The business’s revenue was down 42.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 earnings per share. As a group, sell-side analysts expect that New Fortress Energy will post 0.36 earnings per share for the current 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.