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

New Fortress Energy LLC (NASDAQ:NFE) has been assigned an average rating of “Reduce” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $7.00.

Separately, Wall Street Zen lowered shares of New Fortress Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th.

Institutional Trading of New Fortress Energy

A number of hedge funds have recently bought and sold shares of NFE. Shay Capital LLC lifted its stake in New Fortress Energy by 272.1% during the third quarter. Shay Capital LLC now owns 5,675,000 shares of the company’s stock valued at $12,542,000 after buying an additional 4,150,000 shares in the last quarter. Long Focus Capital Management LLC lifted its stake in New Fortress Energy by 43.7% during the third quarter. Long Focus Capital Management LLC now owns 7,400,000 shares of the company’s stock valued at $16,354,000 after buying an additional 2,250,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in New Fortress Energy by 85.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,499,203 shares of the company’s stock valued at $5,129,000 after buying an additional 2,072,477 shares in the last quarter. Deltroit Asset Management UK LLP purchased a new stake in New Fortress Energy during the fourth quarter valued at about $2,052,000. Finally, Lazard Asset Management LLC lifted its stake in New Fortress Energy by 1,765.5% during the first quarter. Lazard Asset Management LLC now owns 1,614,029 shares of the company’s stock valued at $952,000 after buying an additional 1,527,509 shares in the last quarter. 58.61% of the stock is owned by hedge funds and other institutional investors.

New Fortress Energy Price Performance

Shares of NASDAQ NFE opened at $0.51 on Monday. New Fortress Energy has a twelve month low of $0.50 and a twelve month high of $4.96. The company has a current ratio of 0.13, a quick ratio of 0.11 and a debt-to-equity ratio of 3.57. The company has a market capitalization of $145.68 million, a price-to-earnings ratio of -0.23 and a beta of 1.28. The firm has a 50-day moving average of $0.63 and a two-hundred day moving average of $0.99.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($1.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.21). New Fortress Energy had a negative net margin of 164.16% and a negative return on equity of 253.73%. The firm had revenue of $226.95 million for the quarter, compared to analysts’ expectations of $508.60 million. As a group, analysts expect that New Fortress Energy will post -1.25 earnings per share for the current fiscal year.

About New Fortress Energy

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.