New Fortress Energy (NASDAQ:NFE) Trading Up 9.1% – Time to Buy?

New Fortress Energy Inc. (NASDAQ:NFE)’s stock price shot up 9.1% during mid-day trading on Monday . The company traded as high as $12.10 and last traded at $12.19. 2,907,598 shares traded hands during trading, a decline of 28% from the average session volume of 4,054,472 shares. The stock had previously closed at $11.17.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Stifel Nicolaus cut their price objective on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a research report on Wednesday, March 12th. Finally, Morgan Stanley lowered their price target on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, New Fortress Energy presently has a consensus rating of “Hold” and a consensus target price of $15.00.

New Fortress Energy Stock Down 7.0 %

The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The company’s fifty day moving average price is $12.20 and its 200-day moving average price is $11.36. The stock has a market capitalization of $3.03 billion, a PE ratio of 12.16 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE) last posted its earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The business 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%. Analysts forecast 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 related news, CFO Christopher S. Guinta purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the transaction, the chief financial officer now owns 206,653 shares in the company, valued at approximately $1,771,016.21. The trade was a 2.48 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its holdings in New Fortress Energy by 58.4% in the fourth quarter. California State Teachers Retirement System now owns 92,604 shares of the company’s stock worth $1,400,000 after acquiring an additional 34,142 shares in the last quarter. American Assets Investment Management LLC increased its stake in shares of New Fortress Energy by 64.8% in the 4th quarter. American Assets Investment Management LLC now owns 188,012 shares of the company’s stock valued at $2,843,000 after purchasing an additional 73,947 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of New Fortress Energy by 16.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 27,425 shares of the company’s stock valued at $415,000 after purchasing an additional 3,778 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of New Fortress Energy by 40.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 197,427 shares of the company’s stock valued at $2,985,000 after acquiring an additional 56,760 shares in the last quarter. Finally, Waverly Advisors LLC acquired a new stake in New Fortress Energy during the 4th quarter worth $242,000. 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.