Analysts Set New Fortress Energy Inc. (NASDAQ:NFE) Price Target at $13.00

New Fortress Energy Inc. (NASDAQ:NFE) has been given a consensus rating of “Moderate Buy” by the six analysts that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $13.00.

A number of research firms have commented on NFE. Morgan Stanley cut their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 4th. Citigroup reduced their price objective on shares of New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Stifel Nicolaus cut their price target on New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a research note on Wednesday, March 12th.

Insider Buying and Selling at New Fortress Energy

In related news, CFO Christopher S. Guinta purchased 5,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the acquisition, the chief financial officer now owns 206,653 shares in the company, valued at approximately $1,771,016.21. This represents a 2.48 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 37.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On New Fortress Energy

Several hedge funds have recently made changes to their positions in NFE. Franklin Resources Inc. increased its holdings in shares of New Fortress Energy by 8.5% in the third quarter. Franklin Resources Inc. now owns 161,095 shares of the company’s stock valued at $1,555,000 after purchasing an additional 12,587 shares during the period. GAMMA Investing LLC raised its position in New Fortress Energy by 148.5% during the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after buying an additional 2,370 shares during the last quarter. SL Advisors LLC acquired a new stake in New Fortress Energy during the 4th quarter valued at approximately $1,000,000. GSG Advisors LLC purchased a new stake in shares of New Fortress Energy in the 4th quarter valued at $605,000. Finally, Oak Thistle LLC acquired a new stake in shares of New Fortress Energy in the fourth quarter worth $198,000. 58.61% of the stock is owned by institutional investors and hedge funds.

New Fortress Energy Stock Up 4.0 %

Shares of NASDAQ NFE opened at $5.76 on Friday. New Fortress Energy has a 52-week low of $4.72 and a 52-week high of $29.11. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 6.33 and a beta of 1.45. The stock has a 50 day moving average price of $7.62 and a 200 day moving average price of $10.55. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.07. The business had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. Sell-side analysts expect that New Fortress Energy will post 0.36 earnings per share for the current 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.