Analysts Set New Fortress Energy LLC (NASDAQ:NFE) Target Price at $7.88

Shares of New Fortress Energy LLC (NASDAQ:NFE) have been assigned an average recommendation of “Hold” from the nine research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four 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 covered the stock in the last year is $7.8750.

NFE has been the topic of several research reports. 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. Weiss Ratings restated a “sell (d)” rating on shares of New Fortress Energy in a research report on Monday, December 29th.

New Fortress Energy Stock Performance

NFE opened at $1.26 on Tuesday. The business has a 50 day moving average price of $1.30 and a two-hundred day moving average price of $1.77. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.17 and a quick ratio of 0.15. The company has a market capitalization of $358.53 million, a price-to-earnings ratio of -0.33 and a beta of 1.03. New Fortress Energy has a 1-year low of $0.98 and a 1-year high of $12.96.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings results on Thursday, January 1st. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.40). The firm had revenue of $327.37 million for 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 firm’s revenue for the quarter was down 42.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 earnings per share. Research analysts predict that New Fortress Energy will post 0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NFE. IFP Advisors Inc boosted its stake in shares of New Fortress Energy by 166.3% during the 2nd quarter. IFP Advisors Inc now owns 9,072 shares of the company’s stock worth $30,000 after acquiring an additional 5,665 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in shares of New Fortress Energy during the second quarter worth $33,000. MQS Management LLC purchased a new stake in shares of New Fortress Energy during the second quarter valued at $33,000. Osaic Holdings Inc. boosted its position in shares of New Fortress Energy by 244.7% in the 2nd quarter. Osaic Holdings Inc. now owns 11,566 shares of the company’s stock valued at $39,000 after purchasing an additional 8,211 shares during the period. Finally, Savant Capital LLC acquired a new position in shares of New Fortress Energy in the 3rd quarter valued at $28,000. 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.