New Fortress Energy (NASDAQ:NFE) Stock Price Up 6% – What’s Next?

New Fortress Energy Inc. (NASDAQ:NFE)’s share price rose 6% on Monday . The company traded as high as $9.85 and last traded at $9.82. Approximately 325,059 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 3,982,930 shares. The stock had previously closed at $9.26.

Analyst Ratings Changes

NFE has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 4th. Stifel Nicolaus lowered their price target on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price objective for the company in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.60.

New Fortress Energy Stock Up 4.8 %

The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 10.65 and a beta of 1.58. The firm has a 50 day moving average price of $12.73 and a 200-day moving average price of $11.41. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.07. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The company had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. On average, equities analysts forecast that New Fortress Energy Inc. will post 0.36 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Christopher S. Guinta acquired 5,000 shares of New Fortress Energy stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the purchase, the chief financial officer now owns 206,653 shares of the company’s stock, valued at approximately $1,771,016.21. This represents a 2.48 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 37.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NFE. Public Employees Retirement System of Ohio increased its stake in shares of New Fortress Energy by 16.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 27,425 shares of the company’s stock valued at $415,000 after acquiring an additional 3,778 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in New Fortress Energy by 40.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 197,427 shares of the company’s stock worth $2,985,000 after purchasing an additional 56,760 shares during the last quarter. Waverly Advisors LLC purchased a new position in New Fortress Energy during the fourth quarter worth approximately $242,000. Two Sigma Investments LP boosted its holdings in shares of New Fortress Energy by 186.9% in the 4th quarter. Two Sigma Investments LP now owns 170,852 shares of the company’s stock valued at $2,583,000 after purchasing an additional 111,300 shares during the last quarter. Finally, Shay Capital LLC acquired a new position in shares of New Fortress Energy in the 4th quarter valued at $16,866,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

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.