New Fortress Energy (NASDAQ:NFE) Trading 6.1% Higher – What’s Next?

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

Wall Street Analysts Forecast Growth

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

New Fortress Energy Stock 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 stock has a market cap of $4.10 billion, a price-to-earnings ratio of 17.90 and a beta of 1.50. The stock’s 50-day moving average is $12.48 and its 200 day moving average is $13.08.

Institutional Investors Weigh In On New Fortress Energy

A number of hedge funds have recently added to or reduced their stakes in NFE. nVerses Capital LLC acquired a new stake in shares of New Fortress Energy during the 3rd quarter valued at approximately $25,000. KBC Group NV lifted 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 acquiring an additional 1,852 shares during the period. US Bancorp DE lifted 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 acquiring an additional 2,767 shares during the period. Signaturefd LLC lifted its position in shares of New Fortress Energy by 409.1% during 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 period. Finally, Quarry LP lifted 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 during the period. Institutional investors and hedge funds 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.