New Fortress Energy (NASDAQ:NFE) Shares Gap Up to $31.66

New Fortress Energy Inc. (NASDAQ:NFEGet Free Report)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $31.66, but opened at $34.50. New Fortress Energy shares last traded at $35.04, with a volume of 747,590 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NFE shares. Capital One Financial started coverage on New Fortress Energy in a research report on Tuesday, December 19th. They issued an “equal weight” rating and a $45.00 target price for the company. Stifel Nicolaus increased their price target on shares of New Fortress Energy from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, November 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Check Out Our Latest Report on New Fortress Energy

New Fortress Energy Stock Up 11.9 %

The company has a debt-to-equity ratio of 3.74, a current ratio of 0.45 and a quick ratio of 0.40. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 18.78 and a beta of 1.56. The firm’s 50-day moving average is $34.20 and its 200 day moving average is $33.30.

Institutional Trading of New Fortress Energy

Several large investors have recently bought and sold shares of NFE. American International Group Inc. grew its position in shares of New Fortress Energy by 49.5% during the second quarter. American International Group Inc. now owns 752 shares of the company’s stock worth $30,000 after acquiring an additional 249 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of New Fortress Energy by 1.9% in the first quarter. HighTower Advisors LLC now owns 15,776 shares of the company’s stock worth $673,000 after purchasing an additional 300 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of New Fortress Energy by 41.1% in the first quarter. BNP Paribas Arbitrage SA now owns 1,084 shares of the company’s stock worth $46,000 after acquiring an additional 316 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of New Fortress Energy by 5.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,730 shares of the company’s stock valued at $221,000 after buying an additional 319 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in New Fortress Energy by 1.7% in the fourth quarter. Alliancebernstein L.P. now owns 20,268 shares of the company’s stock worth $860,000 after buying an additional 334 shares during the last quarter. Institutional investors and hedge funds own 50.16% of the company’s stock.

New Fortress Energy Company Profile

(Get Free Report)

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.

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