New Fortress Energy (NASDAQ:NFE) Stock Rating Reaffirmed by Deutsche Bank Aktiengesellschaft

New Fortress Energy (NASDAQ:NFE)‘s stock had its “sell” rating reissued by stock analysts at Deutsche Bank Aktiengesellschaft in a research note issued on Tuesday, StockNewsAPI reports. They currently have a $7.60 target price on the stock, down from their previous target price of $21.00. Deutsche Bank Aktiengesellschaft’s target price indicates a potential downside of 16.39% from the stock’s current price.

A number of other equities research analysts also recently issued reports on NFE. BTIG Research reduced their price target on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Barclays reduced their price target on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Finally, Stifel Nicolaus reduced their price target on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.72.

New Fortress Energy Price Performance

New Fortress Energy stock opened at $9.09 on Tuesday. New Fortress Energy has a 12 month low of $8.20 and a 12 month high of $40.04. The stock’s 50 day moving average is $13.83 and its 200-day moving average is $21.47. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 4.38. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 4.13 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). The company had revenue of $428.00 million for the quarter, compared to analyst estimates of $465.52 million. New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The company’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.58 EPS. Equities research analysts expect that New Fortress Energy will post 0.54 EPS for the current year.

Institutional Investors Weigh In On New Fortress Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. X Square Capital LLC lifted its stake in shares of New Fortress Energy by 0.6% in the 2nd quarter. X Square Capital LLC now owns 137,396 shares of the company’s stock valued at $3,020,000 after acquiring an additional 781 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in shares of New Fortress Energy by 1.5% in the 1st quarter. Maryland State Retirement & Pension System now owns 59,765 shares of the company’s stock valued at $1,828,000 after acquiring an additional 888 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of New Fortress Energy by 4.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company’s stock valued at $477,000 after acquiring an additional 999 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of New Fortress Energy by 10.9% in the 1st quarter. Tidal Investments LLC now owns 10,297 shares of the company’s stock valued at $315,000 after acquiring an additional 1,009 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of New Fortress Energy by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,784 shares of the company’s stock valued at $479,000 after acquiring an additional 1,024 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors.

About New Fortress Energy

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.