New Fortress Energy (NASDAQ:NFE) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of New Fortress Energy (NASDAQ:NFE) to a hold rating in a research note published on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of New Fortress Energy in a report on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

New Fortress Energy Price Performance

Shares of NASDAQ:NFE opened at $12.22 on Friday. The company has a market cap of $69.78 million, a price-to-earnings ratio of -4.53 and a beta of 1.35. The company has a debt-to-equity ratio of 3.57, a current ratio of 0.16 and a quick ratio of 0.15. The firm has a 50 day simple moving average of $15.20 and a 200 day simple moving average of $26.52. New Fortress Energy has a one year low of $11.25 and a one year high of $154.00.

New Fortress Energy (NASDAQ:NFE) last posted its earnings results on Thursday, August 6th. The company reported ($1.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($10.50) by $9.20. The firm had revenue of $312.50 million for the quarter, compared to analysts’ expectations of $511.60 million. New Fortress Energy had a negative net margin of 149.40% and a negative return on equity of 795.34%. Research analysts predict that New Fortress Energy will post -59.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New Fortress Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Wealthfront Advisers LLC raised its stake in shares of New Fortress Energy by 7.3% during the first quarter. Wealthfront Advisers LLC now owns 195,946 shares of the company’s stock valued at $116,000 after acquiring an additional 13,343 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of New Fortress Energy by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 556,407 shares of the company’s stock valued at $328,000 after buying an additional 16,991 shares during the period. J. Derek Lewis & Associates Inc. acquired a new stake in New Fortress Energy during the 4th quarter valued at approximately $29,000. Leonteq Securities AG acquired a new stake in shares of New Fortress Energy during the fourth quarter worth $37,000. Finally, Fortitude Advisory Group L.L.C. acquired a new stake in New Fortress Energy during the 4th quarter worth about $57,000. 58.61% of the stock is owned by institutional investors.

New Fortress Energy Company Profile

New Fortress Energy Inc (NASDAQ:NFE) is an energy infrastructure company that develops, owns and operates natural gas and liquefied natural gas (LNG) facilities. Its activities span the LNG value chain, including natural gas procurement, liquefaction, transportation, storage, regasification and delivery to customers.

The company provides LNG and natural gas through a network of terminals, pipelines, floating storage and regasification units, and related infrastructure. It also develops and operates gas-fired power generation facilities, supplying electricity and fuel to utilities, commercial and industrial customers, and other users seeking alternatives to more carbon-intensive energy sources.

Founded in 2014, New Fortress Energy has developed projects in the United States, the Caribbean and Latin America, including infrastructure serving markets such as Puerto Rico, Jamaica, Mexico and Brazil.