Why These Energy Stocks Are Gaining This Week

8. New Fortress Energy Inc. (NASDAQ:NFE)

Share Price Gains Between Sep 16 – July 23: 23%

New Fortress Energy Inc. (NASDAQ:NFE) owns and operates natural gas and LNG infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets.

After plummeting to a record low earlier this month, New Fortress Energy Inc. (NASDAQ:NFE) bounced back after it was announced that the company had reached a seven-year, $4 billion agreement to supply Puerto Rico with LNG. The deal, which includes a three-year extension option, offers a significant boost to New Fortress, which has been struggling with mounting debt, delayed projects, and profitability challenges.

Despite the recent uptick, New Fortress Energy Inc. (NASDAQ:NFE) has fallen by almost 85% since the beginning of the year.