New Fortress Energy LLC (NASDAQ:NFE) Given Average Recommendation of “Buy” by Analysts
New Fortress Energy LLC (NASDAQ:NFE) has earned an average rating of “Buy” from the nine analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $20.00.
A number of research firms have recently commented on NFE. Barclays reaffirmed a “hold” rating and set a $15.00 price target on shares of New Fortress Energy in a research report on Tuesday, August 13th. Zacks Investment Research lowered New Fortress Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Finally, JMP Securities dropped their price target on New Fortress Energy from $20.00 to $19.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 16th.
In other news, Director John J. Mack bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $14.20 per share, with a total value of $142,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director C. William Griffin bought 10,665 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average cost of $16.34 per share, for a total transaction of $174,266.10. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 35,000 shares of company stock worth $548,206.
NFE traded up $0.23 during midday trading on Friday, reaching $16.15. 7,919 shares of the company were exchanged, compared to its average volume of 203,954. New Fortress Energy has a one year low of $8.90 and a one year high of $16.70. The stock’s 50-day simple moving average is $14.14 and its 200 day simple moving average is $12.40.
New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.02). The firm had revenue of $39.77 million during the quarter, compared to the consensus estimate of $42.91 million. As a group, equities analysts forecast that New Fortress Energy will post -1.14 EPS for the current year.
About New Fortress Energy
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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