New Fortress Energy (NASDAQ:NFE) Price Target Cut to $21.00 by Analysts at Deutsche Bank Aktiengesellschaft

New Fortress Energy (NASDAQ:NFE) had its target price cut by research analysts at Deutsche Bank Aktiengesellschaft from $26.00 to $21.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 47.89% from the stock’s current price.

NFE has been the topic of several other research reports. Barclays dropped 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 note on Monday, August 5th. Stifel Nicolaus dropped their target price on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $29.00.

New Fortress Energy Stock Up 9.2 %

Shares of NASDAQ:NFE traded up $1.20 during trading on Monday, hitting $14.20. 4,676,175 shares of the company’s stock traded hands, compared to its average volume of 1,965,534. The company has a 50-day moving average price of $20.93 and a 200-day moving average price of $26.66. New Fortress Energy has a 52 week low of $12.63 and a 52 week high of $40.04. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 3.74. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 6.45 and a beta of 1.49.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings results on Friday, August 9th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The company had revenue of $428.00 million during the quarter, compared to the consensus estimate of $465.52 million. During the same period in the previous year, the firm posted $0.58 EPS. The business’s quarterly revenue was down 23.7% compared to the same quarter last year. As a group, research analysts forecast that New Fortress Energy will post 2.03 EPS for the current fiscal year.

Institutional Investors Weigh In On New Fortress Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. bought a new position in New Fortress Energy during the fourth quarter worth about $210,000. Mackenzie Financial Corp acquired a new position in shares of New Fortress Energy during the 4th quarter worth approximately $3,021,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in New Fortress Energy by 5.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,081 shares of the company’s stock valued at $531,000 after acquiring an additional 716 shares during the period. Linden Thomas Advisory Services LLC lifted its holdings in New Fortress Energy by 3.2% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 50,217 shares of the company’s stock valued at $1,895,000 after purchasing an additional 1,560 shares during the last quarter. Finally, O Brien Greene & Co. Inc boosted its position in New Fortress Energy by 10.4% during the fourth quarter. O Brien Greene & Co. Inc now owns 15,015 shares of the company’s stock worth $567,000 after purchasing an additional 1,420 shares during the period. Institutional investors own 58.61% of the company’s stock.

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.