New Fortress Energy (NASDAQ:NFE) Shares Gap Up – Still a Buy?

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 changing hands.

Analysts Set New Price Targets

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

New Fortress Energy Stock Down 3.5 %

The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 16.88 and a beta of 1.50. The business’s 50-day moving average is $13.13 and its 200-day moving average is $12.93. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38.

Institutional Trading of New Fortress Energy

Several hedge funds have recently modified their holdings of NFE. nVerses Capital LLC acquired a new position in shares of New Fortress Energy in the 3rd quarter worth approximately $25,000. KBC Group NV increased 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 valued at $31,000 after purchasing an additional 1,852 shares in the last quarter. US Bancorp DE raised its position in New Fortress Energy by 344.6% in 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 boosted its stake in New Fortress Energy by 409.1% in the third quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock worth $37,000 after purchasing an additional 3,314 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of New Fortress Energy by 125.7% during the second 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 last quarter. Institutional investors and hedge funds 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.