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

New Fortress Energy LLC (NASDAQ:NFE) has been assigned an average rating of “Hold” from the eight brokerages that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and three 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 $7.8750.

Several research analysts recently weighed in on the company. Morgan Stanley set a $4.00 price objective on New Fortress Energy and gave the stock an “equal weight” rating in a research report on Tuesday, May 27th. Johnson Rice lowered New Fortress Energy from a “buy” rating to a “hold” rating and lowered their price target for the stock from $7.00 to $4.00 in a research report on Wednesday, August 13th. Zacks Research upgraded New Fortress Energy to a “hold” rating in a research report on Monday, August 11th. BTIG Research lowered New Fortress Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, June 26th. Finally, Compass Point started coverage on New Fortress Energy in a research report on Tuesday, July 1st. They set a “buy” rating and a $8.50 price target for the company.

New Fortress Energy Trading Up 4.3%

Shares of New Fortress Energy stock opened at $2.45 on Friday. The firm has a market capitalization of $671.79 million, a price-to-earnings ratio of -1.09 and a beta of 0.99. New Fortress Energy has a fifty-two week low of $2.01 and a fifty-two week high of $16.66. The company has a debt-to-equity ratio of 4.77, a quick ratio of 0.95 and a current ratio of 1.00. The stock has a 50 day moving average of $3.16 and a 200 day moving average of $5.11.

Institutional Investors Weigh In On New Fortress Energy

Large investors have recently added to or reduced their stakes in the business. US Bancorp DE increased its stake in New Fortress Energy by 81.7% during the 1st quarter. US Bancorp DE now owns 8,534 shares of the company’s stock worth $71,000 after buying an additional 3,838 shares during the period. CWM LLC raised its stake in shares of New Fortress Energy by 46.9% in the first quarter. CWM LLC now owns 9,065 shares of the company’s stock valued at $75,000 after acquiring an additional 2,895 shares in the last quarter. IFP Advisors Inc raised its stake 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 acquiring an additional 5,665 shares in the last quarter. Hardin Capital Partners LLC acquired a new stake in shares of New Fortress Energy in the first quarter valued at $83,000. Finally, Apollon Wealth Management LLC acquired a new stake in shares of New Fortress Energy in the second quarter valued at $33,000. 58.61% of the stock is owned by hedge funds and other institutional investors.

About New Fortress Energy

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.