New Fortress Energy (NASDAQ:NFE) Shares Gap Down - Should You Sell?

New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $8.64, but opened at $8.36. New Fortress Energy shares last traded at $8.47, with a volume of 1,274,900 shares changing hands.

Analyst Upgrades and Downgrades

NFE has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reissued a "sell" rating and set a $7.60 price objective (down previously from $21.00) on shares of New Fortress Energy in a report on Tuesday, October 1st. Morgan Stanley downgraded New Fortress Energy from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $35.00 to $15.00 in a report on Thursday, October 3rd. Stifel Nicolaus cut their price objective on New Fortress Energy from $40.00 to $17.00 and set a "buy" rating on the stock in a report on Monday, August 12th. Barclays lowered their target price on New Fortress Energy from $27.00 to $19.00 and set an "equal weight" rating for the company in a research report on Monday, August 5th. Finally, BTIG Research lowered their target price on New Fortress Energy from $35.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, New Fortress Energy presently has a consensus rating of "Hold" and a consensus target price of $19.77.

New Fortress Energy Stock Performance

The company has a 50-day moving average of $10.48 and a 200-day moving average of $18.51. 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 firm has a market capitalization of $1.75 billion, a P/E ratio of 7.24 and a beta of 1.51.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last posted its quarterly earnings data on Friday, August 9th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.50). New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The business had revenue of $428.00 million during the quarter, compared to the consensus estimate of $465.52 million. During the same period last year, the business posted $0.58 earnings per share. The business's revenue was down 23.7% on a year-over-year basis. On average, equities analysts anticipate that New Fortress Energy Inc. will post 0.52 earnings per share for the current fiscal year.

New Fortress Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Friday, September 13th. New Fortress Energy's dividend payout ratio (DPR) is presently 33.90%.

Insider Transactions at New Fortress Energy

In other news, CEO Wesley R. Edens bought 5,793,742 shares of New Fortress Energy stock in a transaction dated Tuesday, October 1st. The stock was bought at an average cost of $8.63 per share, for a total transaction of $49,999,993.46. Following the purchase, the chief executive officer now directly owns 35,721,915 shares in the company, valued at approximately $308,280,126.45. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 37.10% of the company's stock.

Institutional Trading of New Fortress Energy

Several large investors have recently made changes to their positions in the company. X Square Capital LLC grew 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 buying an additional 781 shares during the period. Maryland State Retirement & Pension System boosted its stake in New Fortress Energy by 1.5% during the 1st quarter. Maryland State Retirement & Pension System now owns 59,765 shares of the company's stock valued at $1,828,000 after purchasing an additional 888 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in New Fortress Energy by 4.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company's stock valued at $477,000 after purchasing an additional 999 shares during the last quarter. Tidal Investments LLC boosted its stake in New Fortress Energy by 10.9% during the 1st quarter. Tidal Investments LLC now owns 10,297 shares of the company's stock valued at $315,000 after purchasing an additional 1,009 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in New Fortress Energy by 4.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,784 shares of the company's stock valued at $479,000 after purchasing an additional 1,024 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

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.