New Fortress Energy (NASDAQ:NFE) Shares Gap Up – What’s Next?

New Fortress Energy Inc. (NASDAQ:NFE)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $15.59, but opened at $15.95. New Fortress Energy shares last traded at $16.33, with a volume of 656,887 shares changing hands.

Wall Street Analyst Weigh In

NFE has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price objective on New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price on the stock in a research report on Wednesday, December 4th. Finally, Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $35.00 to $15.00 in a research report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.40.

New Fortress Energy Stock Up 2.6 %

The firm has a market cap of $4.02 billion, a P/E ratio of 17.71 and a beta of 1.50. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The business has a 50-day moving average price of $12.86 and a 200-day moving average price of $12.94.

Institutional Investors Weigh In On New Fortress Energy

A number of institutional investors have recently added to or reduced their stakes in NFE. Stifel Financial Corp purchased a new position in New Fortress Energy in the 3rd quarter worth $990,000. Vontobel Holding Ltd. purchased a new position in New Fortress Energy in the 3rd quarter worth $511,000. GSG Advisors LLC acquired a new stake in New Fortress Energy during the 4th quarter valued at approximately $605,000. Pinnacle Associates Ltd. acquired a new stake in New Fortress Energy during the 3rd quarter valued at approximately $890,000. Finally, American Assets Investment Management LLC boosted its stake in shares of New Fortress Energy by 101.6% in the third quarter. American Assets Investment Management LLC now owns 114,065 shares of the company’s stock worth $1,037,000 after buying an additional 57,479 shares during the last quarter. Institutional investors own 58.61% of the company’s stock.

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.