Shares of New Fortress Energy LLC (NASDAQ:NFE) have earned an average recommendation of “Buy” from the nine ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $19.43.

A number of research analysts recently issued reports on the stock. Barclays set a $11.00 target price on shares of New Fortress Energy and gave the company a “hold” rating in a research report on Thursday, March 28th. JMP Securities assumed coverage on shares of New Fortress Energy in a research report on Monday, February 25th. They set a “mkt outperform” rating and a $18.00 target price for the company. Zacks Investment Research downgraded shares of New Fortress Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. Citigroup assumed coverage on shares of New Fortress Energy in a research report on Monday, February 25th. They set a “buy” rating for the company. Finally, Evercore ISI assumed coverage on shares of New Fortress Energy in a research report on Monday, February 25th. They set an “outperform” rating and a $23.00 target price for the company.

Shares of NASDAQ:NFE traded up $0.04 on Wednesday, hitting $9.69. 161,900 shares of the company were exchanged, compared to its average volume of 209,435. New Fortress Energy has a 1-year low of $8.90 and a 1-year high of $16.11.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.96) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.73). The firm had revenue of $29.95 million for the quarter, compared to analyst estimates of $50.71 million.

In other news, Director David J. Grain acquired 10,000 shares of the business’s stock in a transaction on Friday, May 31st. The stock was bought at an average price of $11.40 per share, with a total value of $114,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John J. Mack bought 9,786 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were bought at an average cost of $12.98 per share, with a total value of $127,022.28. The disclosure for this purchase can be found here. Insiders have purchased 1,232,199 shares of company stock valued at $12,284,841 over the last 90 days.

Several hedge funds have recently added to or reduced their stakes in NFE. Encompass Capital Advisors LLC purchased a new stake in shares of New Fortress Energy during the first quarter worth about $24,303,000. Federated Investors Inc. PA purchased a new stake in shares of New Fortress Energy during the first quarter worth about $13,194,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of New Fortress Energy during the first quarter worth about $9,129,000. Goldman Sachs Group Inc. purchased a new stake in shares of New Fortress Energy during the first quarter worth about $6,605,000. Finally, Dean Capital Investments Management LLC purchased a new stake in shares of New Fortress Energy during the first quarter worth about $536,000. 6.57% of the stock is owned by institutional investors and hedge funds.

New Fortress Energy Company Profile

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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