New Fortress Energy (NASDAQ:NFE) Shares Gap Up – What’s Next?

Shares of New Fortress Energy Inc. (NASDAQ:NFE) gapped up prior to trading on Thursday . The stock had previously closed at $15.59, but opened at $15.95. New Fortress Energy shares last traded at $16.33, with a volume of 656,887 shares traded.

Wall Street Analysts Forecast Growth

NFE has been the subject of several research reports. Morgan Stanley downgraded New Fortress Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $35.00 to $15.00 in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target on the stock in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus upped their price target on New Fortress Energy from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.40.

New Fortress Energy Trading Up 2.6 %

The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The company has a market cap of $4.02 billion, a P/E ratio of 17.71 and a beta of 1.50. The stock has a 50-day moving average of $12.86 and a two-hundred day moving average of $12.94.

Institutional Inflows and Outflows

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

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.