Stifel Nicolaus Issues Pessimistic Forecast for New Fortress Energy (NASDAQ:NFE) Stock Price

New Fortress Energy (NASDAQ:NFE) had its price target cut by equities research analysts at Stifel Nicolaus from $16.00 to $14.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 179.78% from the company’s current price.

A number of other equities analysts have also commented on NFE. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a research report on Wednesday, March 12th. Citigroup decreased their price objective on shares of New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Finally, Morgan Stanley cut their price objective on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

New Fortress Energy Price Performance

Shares of NFE traded up $0.03 during mid-day trading on Tuesday, reaching $5.00. The stock had a trading volume of 2,378,613 shares, compared to its average volume of 4,785,665. 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 has a 12 month low of $4.72 and a 12 month high of $29.11. The business has a fifty day moving average of $8.91 and a 200 day moving average of $10.84. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 5.50 and a beta of 1.52.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $613.24 million. Equities analysts predict that New Fortress Energy will post 0.36 EPS for the current year.

Insider Transactions at New Fortress Energy

In related news, CFO Christopher S. Guinta bought 5,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the acquisition, the chief financial officer now directly owns 206,653 shares in the company, valued at approximately $1,771,016.21. This trade represents a 2.48 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NFE. Exchange Traded Concepts LLC lifted its position in New Fortress Energy by 43.2% in the first quarter. Exchange Traded Concepts LLC now owns 325,760 shares of the company’s stock valued at $2,707,000 after buying an additional 98,248 shares during the last quarter. Ullmann Wealth Partners Group LLC boosted its stake in shares of New Fortress Energy by 31.4% in the 1st quarter. Ullmann Wealth Partners Group LLC now owns 37,479 shares of the company’s stock valued at $311,000 after buying an additional 8,953 shares during the period. Hardin Capital Partners LLC purchased a new stake in shares of New Fortress Energy in the 1st quarter valued at approximately $83,000. Rhumbline Advisers lifted its holdings in New Fortress Energy by 3.7% during the 1st quarter. Rhumbline Advisers now owns 101,283 shares of the company’s stock worth $842,000 after buying an additional 3,653 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in New Fortress Energy by 343.8% in the first quarter. GAMMA Investing LLC now owns 17,601 shares of the company’s stock valued at $146,000 after purchasing an additional 13,635 shares during the last quarter. Hedge funds and other 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.