New Fortress Energy (NASDAQ:NFE) Receives “Hold” Rating from Barclays

Barclays restated their hold rating on shares of New Fortress Energy (NASDAQ:NFE) in a research report released on Tuesday morning, AnalystRatings.com reports.

A number of other research firms also recently commented on NFE. Zacks Investment Research downgraded shares of New Fortress Energy from a hold rating to a sell rating in a research report on Wednesday, August 7th. JMP Securities dropped their target price on shares of New Fortress Energy from $20.00 to $19.00 and set a market outperform rating on the stock in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $19.43.

Shares of NFE opened at $13.90 on Tuesday. New Fortress Energy has a fifty-two week low of $8.90 and a fifty-two week high of $16.11. The business’s 50 day simple moving average is $11.89.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.02). The business had revenue of $39.77 million for the quarter, compared to the consensus estimate of $42.91 million. As a group, analysts predict that New Fortress Energy will post -0.87 earnings per share for the current year.

In related news, Director David J. Grain purchased 10,000 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was acquired at an average price of $11.40 per share, for a total transaction of $114,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Katherine Wanner purchased 2,100 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was bought at an average price of $12.15 per share, with a total value of $25,515.00. The disclosure for this purchase can be found here. Insiders bought a total of 55,599 shares of company stock valued at $694,772 in the last 90 days.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Schroder Investment Management Group purchased a new position in New Fortress Energy during the 2nd quarter valued at about $18,789,000. Federated Investors Inc. PA purchased a new position in New Fortress Energy during the 1st quarter valued at about $13,194,000. Emerald Mutual Fund Advisers Trust purchased a new position in New Fortress Energy during the 1st quarter valued at about $9,129,000. State Treasurer State of Michigan purchased a new position in New Fortress Energy during the 2nd quarter valued at about $1,862,000. Finally, HighTower Advisors LLC increased its holdings in New Fortress Energy by 424.2% during the 2nd quarter. HighTower Advisors LLC now owns 52,416 shares of the company’s stock valued at $614,000 after acquiring an additional 42,416 shares in the last quarter. Institutional investors and hedge funds own 6.69% of the company’s stock.

About New Fortress Energy

New Fortress Energy LLC operates as an integrated gas-to-power company. The company's activities include natural gas procurement and liquefaction; provision of logistics and shipping services; development and operation of terminals; and conversion or development of natural gas-fired generation. It intends to serve power, transportation, and industrial users of natural gas and LNG.

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Analyst Recommendations for New Fortress Energy (NASDAQ:NFE)

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