New Fortress Energy (NASDAQ:NFE) Stock Price Up 24.3% – Should You Buy?

New Fortress Energy Inc. (NASDAQ:NFE)’s share price was up 24.3% during mid-day trading on Wednesday . The company traded as high as $6.64 and last traded at $6.74. Approximately 5,349,310 shares traded hands during mid-day trading, an increase of 18% from the average daily volume of 4,540,044 shares. The stock had previously closed at $5.42.

Wall Street Analyst Weigh In

NFE has been the subject of a number of recent research reports. Citigroup reduced their price target on New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday. Stifel Nicolaus cut their price objective on shares of 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. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a research report on Wednesday, March 12th. 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 on the stock in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, New Fortress Energy currently has an average rating of “Moderate Buy” and an average target price of $13.83.

New Fortress Energy Stock Performance

The company has a market capitalization of $1.62 billion, a P/E ratio of 6.48 and a beta of 1.52. The stock’s fifty day moving average price is $9.92 and its 200-day moving average price is $11.02. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $613.24 million. As a group, research analysts anticipate that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

Insider Activity at New Fortress Energy

In related news, CFO Christopher S. Guinta acquired 5,000 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $1,771,016.21. The trade was a 2.48 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 37.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On New Fortress Energy

Large investors have recently made changes to their positions in the company. Allworth Financial LP grew its holdings in New Fortress Energy by 2,156.0% in the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after buying an additional 1,962 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of 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 acquiring an additional 2,370 shares during the period. Quarry LP acquired a new position in shares of New Fortress Energy in the fourth quarter valued at about $64,000. US Bancorp DE increased its position in New Fortress Energy by 31.5% during the fourth quarter. US Bancorp DE now owns 4,696 shares of the company’s stock worth $71,000 after acquiring an additional 1,126 shares during the period. Finally, Hardin Capital Partners LLC acquired a new stake in New Fortress Energy in the 1st quarter worth about $83,000. 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.