New Fortress Energy (NASDAQ:NFE) Trading Up 9.1% – Here’s Why

New Fortress Energy Inc. (NASDAQ:NFE) rose 9.1% during mid-day trading on Monday . The stock traded as high as $12.10 and last traded at $12.19. Approximately 2,907,598 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 4,054,472 shares. The stock had previously closed at $11.17.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NFE. Stifel Nicolaus cut their target price on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Morgan Stanley cut their price target on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a report on Wednesday, March 12th. Three 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 currently has an average rating of “Hold” and an average price target of $15.00.

New Fortress Energy Stock Performance

The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The stock has a fifty day moving average price of $12.29 and a 200-day moving average price of $11.34. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 13.43 and a beta of 1.58.

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

Insider Transactions at New Fortress Energy

In related news, CFO Christopher S. Guinta acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the acquisition, the chief financial officer now owns 206,653 shares in the company, valued at approximately $1,771,016.21. This represents a 2.48 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On New Fortress Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Capital World Investors increased its holdings in New Fortress Energy by 87.9% during the 4th quarter. Capital World Investors now owns 19,925,022 shares of the company’s stock valued at $301,266,000 after acquiring an additional 9,319,985 shares in the last quarter. William Blair Investment Management LLC increased its position in New Fortress Energy by 40.8% during the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock worth $235,374,000 after buying an additional 4,509,177 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of New Fortress Energy by 13.6% in the fourth quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company’s stock worth $198,027,000 after acquiring an additional 1,564,893 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of New Fortress Energy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock valued at $171,147,000 after acquiring an additional 2,728,191 shares in the last quarter. Finally, Hood River Capital Management LLC acquired a new stake in shares of New Fortress Energy during the fourth quarter valued at $155,023,000. Institutional investors and hedge funds 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.