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

New Fortress Energy LLC (NASDAQ:NFE) has received a consensus recommendation of “Hold” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $7.8750.

Several brokerages recently commented on NFE. Zacks Research raised New Fortress Energy from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of New Fortress Energy in a research report on Monday, December 29th.

Institutional Investors Weigh In On New Fortress Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC bought a new position in shares of New Fortress Energy during the 4th quarter valued at about $26,000. Savant Capital LLC acquired a new stake in New Fortress Energy during the third quarter valued at approximately $28,000. Vanguard Personalized Indexing Management LLC acquired a new stake in New Fortress Energy during the third quarter valued at approximately $29,000. Daiwa Securities Group Inc. boosted its holdings in New Fortress Energy by 85.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 26,086 shares of the company’s stock worth $30,000 after buying an additional 11,992 shares in the last quarter. Finally, one8zero8 LLC acquired a new position in New Fortress Energy in the third quarter worth approximately $31,000. 58.61% of the stock is currently owned by institutional investors.

New Fortress Energy Stock Performance

NFE stock opened at $1.17 on Friday. The company has a 50-day simple moving average of $1.27 and a 200 day simple moving average of $1.58. The company has a market capitalization of $332.92 million, a P/E ratio of -0.31 and a beta of 1.05. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.08. New Fortress Energy has a fifty-two week low of $0.98 and a fifty-two week high of $12.59.

New Fortress Energy (NASDAQ:NFE) last released its earnings results on Thursday, January 1st. The company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.40). The company 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 quarterly revenue was down 42.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. Sell-side analysts predict that New Fortress Energy will post 0.36 earnings per share for the current fiscal year.

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.