New Fortress Energy (NASDAQ:NFE) Shares Up 8.8% – Should You Buy?

New Fortress Energy Inc. (NASDAQ:NFE) shares shot up 8.8% during trading on Thursday . The company traded as high as $6.15 and last traded at $6.03. Approximately 752,701 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 4,724,935 shares. The stock had previously closed at $5.54.

Wall Street Analysts Forecast Growth

NFE has been the topic of several analyst reports. Morgan Stanley dropped 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. Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a research report on Wednesday, March 12th. Citigroup cut their price target on shares of New Fortress Energy from $34.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Finally, Stifel Nicolaus decreased their price objective on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.83.

New Fortress Energy Price Performance

The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 6.25 and a beta of 1.52. The company’s fifty day moving average price is $9.04 and its 200 day moving average price is $10.85. 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 posted its earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.06 by $0.07. The company had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. Equities research analysts expect that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.

Insider Buying and Selling at New Fortress Energy

In other news, CFO Christopher S. Guinta purchased 5,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the purchase, the chief financial officer now owns 206,653 shares of the company’s stock, valued at $1,771,016.21. This trade represents a 2.48 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 37.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On New Fortress Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hood River Capital Management LLC bought a new position in shares of New Fortress Energy in the fourth quarter worth $155,023,000. Capital World Investors grew its position in New Fortress Energy by 87.9% in the 4th quarter. Capital World Investors now owns 19,925,022 shares of the company’s stock valued at $301,266,000 after buying an additional 9,319,985 shares in the last quarter. William Blair Investment Management LLC increased its stake in New Fortress Energy by 40.8% during the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock valued at $235,374,000 after buying an additional 4,509,177 shares during the period. Vanguard Group Inc. raised its position in shares of New Fortress Energy by 31.8% during the 4th quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock worth $171,147,000 after buying an additional 2,728,191 shares in the last quarter. Finally, Primecap Management Co. CA lifted its stake in shares of New Fortress Energy by 13.6% in the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company’s stock worth $198,027,000 after acquiring an additional 1,564,893 shares during the period. 58.61% of the stock is owned by institutional investors.

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.