New Fortress Energy (NASDAQ:NFE) Rating Lowered to Sell at Wall Street Zen

New Fortress Energy (NASDAQ:NFE) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised shares of New Fortress Energy from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, October 16th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce”.

New Fortress Energy Price Performance

Shares of New Fortress Energy stock opened at $4.49 on Friday. The stock has a market cap of $25.64 million, a P/E ratio of -0.03 and a beta of 1.44. New Fortress Energy has a 12-month low of $3.24 and a 12-month high of $99.00. The business’s 50 day moving average is $7.32 and its 200-day moving average is $28.16.

New Fortress Energy (NASDAQ:NFE) last released its earnings results on Thursday, August 6th. The company reported ($1.30) earnings per share for the quarter, beating the consensus estimate of ($10.50) by $9.20. The business had revenue of $312.50 million during the quarter, compared to analysts’ expectations of $511.60 million. New Fortress Energy had a negative net margin of 149.40% and a negative return on equity of 795.34%. On average, sell-side analysts expect that New Fortress Energy will post -4.19 EPS for the current year.

Hedge Funds Weigh In On New Fortress Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC increased its position in New Fortress Energy by 1,765.5% during the first quarter. Lazard Asset Management LLC now owns 1,614,029 shares of the company’s stock worth $952,000 after buying an additional 1,527,509 shares during the last quarter. NINE MASTS CAPITAL Ltd acquired a new stake in shares of New Fortress Energy in the second quarter valued at approximately $304,000. Bank of New York Mellon Corp acquired a new stake in shares of New Fortress Energy in the second quarter valued at approximately $59,000. X Square Capital LLC acquired a new stake in shares of New Fortress Energy in the second quarter valued at approximately $33,000. Finally, Primecap Management Co. CA bought a new position in shares of New Fortress Energy during the 2nd quarter worth approximately $33,000. Institutional investors own 58.61% of the company’s stock.

About New Fortress Energy

New Fortress Energy Inc is an energy infrastructure company that develops, owns and operates facilities used to produce, transport, store and deliver natural gas and liquefied natural gas (LNG). Its operations are designed to provide reliable energy to utilities, industrial customers, power generators and other end users that may not have access to traditional pipeline gas infrastructure.

The company’s activities include LNG liquefaction, marine transportation, regasification and natural gas distribution, as well as the development and operation of natural gas-fired power generation facilities.