New Fortress Energy (NASDAQ:NFE) Trading Down 11.2% – Time to Sell?

Shares of New Fortress Energy Inc. (NASDAQ:NFE) were down 11.2% on Thursday . The company traded as low as $7.84 and last traded at $7.81. Approximately 1,835,923 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 3,893,842 shares. The stock had previously closed at $8.80.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price for the company in a report on Wednesday, December 4th. Stifel Nicolaus reduced their price objective on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Finally, Morgan Stanley lowered their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, New Fortress Energy presently has an average rating of “Hold” and a consensus target price of $15.60.

New Fortress Energy Price Performance

The company has a fifty day simple moving average of $13.02 and a two-hundred day simple moving average of $11.47. The stock has a market capitalization of $2.30 billion, a P/E ratio of 9.19 and a beta of 1.58. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06.

New Fortress Energy (NASDAQ:NFE) last posted its earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.07. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. The firm had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. Sell-side analysts expect that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On New Fortress Energy

A number of hedge funds have recently added to or reduced their stakes in NFE. Allworth Financial LP grew its holdings in shares of New Fortress Energy by 2,156.0% during the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock worth $32,000 after purchasing an additional 1,962 shares during the last quarter. KBC Group NV lifted its holdings in New Fortress Energy by 116.9% in the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after buying an additional 1,852 shares during the period. US Bancorp DE grew its stake in shares of New Fortress Energy by 344.6% in the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after buying an additional 2,767 shares during the period. GAMMA Investing LLC grew its position in New Fortress Energy by 148.5% in the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after purchasing an additional 2,370 shares in the last quarter. Finally, Quarry LP bought a new position in shares of New Fortress Energy in the fourth quarter valued at approximately $64,000. 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.