New Fortress Energy (NASDAQ:NFE) Trading 6.1% Higher – Still a Buy?

New Fortress Energy Inc. (NASDAQ:NFE) rose 6.1% on Thursday . The company traded as high as $15.78 and last traded at $15.82. Approximately 1,398,996 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 4,177,240 shares. The stock had previously closed at $14.91.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley lowered shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $35.00 to $15.00 in a research note on Thursday, October 3rd. Stifel Nicolaus lifted their price target on shares of New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Finally, Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price objective for the company in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, New Fortress Energy has a consensus rating of “Hold” and a consensus price target of $15.40.

New Fortress Energy Price Performance

The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The business’s 50-day moving average price is $12.20 and its two-hundred day moving average price is $13.09. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 17.49 and a beta of 1.50.

Institutional Investors Weigh In On New Fortress Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. nVerses Capital LLC acquired a new position in New Fortress Energy in the third quarter worth about $25,000. KBC Group NV lifted its holdings in New Fortress Energy by 116.9% during the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after buying an additional 1,852 shares during the last quarter. US Bancorp DE grew its position in shares of New Fortress Energy by 344.6% in the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company’s stock worth $32,000 after acquiring an additional 2,767 shares in the last quarter. Signaturefd LLC increased its holdings in shares of New Fortress Energy by 409.1% in the 3rd quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock valued at $37,000 after acquiring an additional 3,314 shares during the last quarter. Finally, Quarry LP raised its position in shares of New Fortress Energy by 125.7% during the 2nd quarter. Quarry LP now owns 2,250 shares of the company’s stock valued at $49,000 after acquiring an additional 1,253 shares in the last quarter. Institutional investors own 58.61% of the company’s stock.

About New Fortress Energy

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.