New Fortress Energy (NASDAQ:NFE) Shares Gap Up – Still a Buy?

New Fortress Energy Inc. (NASDAQ:NFE) shares gapped up before the market opened on Monday . The stock had previously closed at $6.32, but opened at $7.22. New Fortress Energy shares last traded at $6.98, with a volume of 1,453,727 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a research note on Wednesday, March 12th. Stifel Nicolaus reduced their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Citigroup lowered their target price on shares of New Fortress Energy from $34.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Finally, Morgan Stanley cut their price target on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, New Fortress Energy presently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

New Fortress Energy Trading Up 8.3%

The company has a 50-day simple moving average of $7.41 and a 200-day simple moving average of $10.51. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The stock has a market cap of $1.87 billion, a P/E ratio of 7.53 and a beta of 1.45.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data 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 return on equity of 15.60% and a net margin of 7.84%. The firm had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. On average, sell-side analysts forecast that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

Insider Transactions at New Fortress Energy

In other news, CFO Christopher S. Guinta bought 5,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the transaction, the chief financial officer now directly owns 206,653 shares in the company, valued at $1,771,016.21. The trade was a 2.48% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 37.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On New Fortress Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its holdings in New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after purchasing an additional 1,962 shares during the last quarter. GAMMA Investing LLC increased its holdings in New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $60,000 after purchasing an additional 2,370 shares during the last quarter. Quarry LP bought a new stake in New Fortress Energy in the fourth quarter valued at about $64,000. US Bancorp DE increased its holdings in New Fortress Energy by 31.5% in the fourth quarter. US Bancorp DE now owns 4,696 shares of the company’s stock valued at $71,000 after purchasing an additional 1,126 shares during the last quarter. Finally, Ancora Advisors LLC acquired a new position in New Fortress Energy in the fourth quarter valued at about $91,000. 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.