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

New Fortress Energy LLC (NASDAQ:NFE) has received a consensus rating of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.8750.

A number of equities analysts have recently issued reports on the company. Capital One Financial reissued an “underweight” rating on shares of New Fortress Energy in a report on Monday. Compass Point assumed coverage on shares of New Fortress Energy in a report on Tuesday, July 1st. They set a “buy” rating and a $8.50 price target for the company. Zacks Research raised shares of New Fortress Energy to a “hold” rating in a report on Monday, August 11th. Morgan Stanley set a $4.00 price target on New Fortress Energy and gave the stock an “equal weight” rating in a research report on Tuesday, May 27th. Finally, BTIG Research downgraded New Fortress Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, June 26th.

Institutional Trading of New Fortress Energy

Several hedge funds have recently modified their holdings of NFE. IFP Advisors Inc increased its holdings in shares of New Fortress Energy by 166.3% in the second quarter. IFP Advisors Inc now owns 9,072 shares of the company’s stock valued at $30,000 after purchasing an additional 5,665 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in shares of New Fortress Energy during the second quarter valued at $33,000. MQS Management LLC bought a new position in New Fortress Energy in the second quarter valued at about $33,000. Osaic Holdings Inc. increased its position in New Fortress Energy by 244.7% in the second 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. Finally, Hardin Capital Partners LLC raised its holdings in New Fortress Energy by 50.0% during the 2nd quarter. Hardin Capital Partners LLC now owns 15,000 shares of the company’s stock worth $54,000 after purchasing an additional 5,000 shares during the last quarter. 58.61% of the stock is owned by institutional investors.

New Fortress Energy Price Performance

NASDAQ:NFE opened at $1.32 on Friday. The company has a market capitalization of $361.94 million, a price-to-earnings ratio of -0.34 and a beta of 0.99. The company has a 50-day moving average of $3.03 and a 200-day moving average of $4.89. New Fortress Energy has a 52 week low of $1.26 and a 52 week high of $16.66. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.95 and a current ratio of 0.67.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings results on Friday, September 5th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.55). The business had revenue of $432.29 million during the quarter, compared to analyst estimates of $480.47 million. New Fortress Energy had a negative return on equity of 22.72% and a negative net margin of 48.94%.The business’s revenue for the quarter was down 29.5% on a year-over-year basis. During the same period last year, the company earned ($0.41) EPS. As a group, equities research analysts anticipate that New Fortress Energy will post 0.36 earnings per share for the current fiscal year.

New Fortress Energy Company Profile

New Fortress Energy Inc operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide. The company operates in two segments, Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.