New Fortress Energy (NASDAQ:NFE) Trading 9.1% Higher – Here’s Why

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stifel Nicolaus lowered their target price on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research note 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. Finally, Morgan Stanley decreased their price target on shares of 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.00.

New Fortress Energy Stock Performance

The stock’s 50-day moving average is $12.29 and its 200-day moving average is $11.34. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 13.43 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE) last released 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 net margin of 7.84% and a return on equity of 15.60%. The company had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. On average, analysts expect that New Fortress Energy Inc. will post 0.36 EPS for the current year.

Insider Buying and Selling at New Fortress Energy

In other news, CFO Christopher S. Guinta acquired 5,000 shares of the stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the transaction, the chief financial officer now directly owns 206,653 shares of the company’s stock, valued at $1,771,016.21. The trade was a 2.48 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 37.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in New Fortress Energy by 2.0% during the 4th quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company’s stock worth $730,000 after buying an additional 935 shares during the period. US Bancorp DE increased its position in shares of New Fortress Energy by 31.5% during the fourth quarter. US Bancorp DE now owns 4,696 shares of the company’s stock worth $71,000 after acquiring an additional 1,126 shares during the last quarter. KBC Group NV lifted its stake in shares of New Fortress Energy by 116.9% in the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after acquiring an additional 1,852 shares in the last quarter. Allworth Financial LP lifted its stake in shares of New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock worth $32,000 after acquiring an additional 1,962 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $60,000 after purchasing an additional 2,370 shares during the last quarter. 58.61% of the stock is currently owned by hedge funds and other 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.