New Fortress Energy (NASDAQ:NFE) Shares Down 5.9% – Should You Sell?

New Fortress Energy Inc. (NASDAQ:NFE) fell 5.9% during mid-day trading on Wednesday . The stock traded as low as $11.26 and last traded at $11.20. 1,023,095 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 4,062,546 shares. The stock had previously closed at $11.90.

Analyst Ratings Changes

NFE has been the subject of a number of research analyst reports. Morgan Stanley cut their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 4th. Stifel Nicolaus reduced their price target on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.00.

New Fortress Energy Trading Down 6.0 %

The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The business has a 50 day moving average price of $12.20 and a 200-day moving average price of $11.36. The company has a market cap of $3.06 billion, a P/E ratio of 12.32 and a beta of 1.58.

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

Insider Activity at New Fortress Energy

In other New Fortress Energy news, CFO Christopher S. Guinta acquired 5,000 shares of New Fortress Energy stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the purchase, the chief financial officer now directly owns 206,653 shares of the company’s stock, valued at $1,771,016.21. This trade represents a 2.48 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 37.10% of the stock is owned by company insiders.

Institutional Trading of New Fortress Energy

A number of large investors have recently added to or reduced their stakes in NFE. Hood River Capital Management LLC purchased a new position in shares of New Fortress Energy during the 4th quarter valued at $155,023,000. Capital World Investors grew its holdings in shares of New Fortress Energy by 87.9% during the 4th quarter. Capital World Investors now owns 19,925,022 shares of the company’s stock valued at $301,266,000 after purchasing an additional 9,319,985 shares during the last quarter. William Blair Investment Management LLC boosted its position in New Fortress Energy by 40.8% during the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock valued at $235,374,000 after buying an additional 4,509,177 shares during the period. Vanguard Group Inc. boosted its holdings in New Fortress Energy by 31.8% during the 4th quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock valued at $171,147,000 after acquiring an additional 2,728,191 shares during the period. Finally, Primecap Management Co. CA increased its stake in shares of New Fortress Energy by 13.6% in the fourth quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company’s stock worth $198,027,000 after buying an additional 1,564,893 shares during the period. Hedge funds and other institutional investors own 58.61% of the company’s stock.

New Fortress Energy Company Profile

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.