New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report)'s stock price hit a new 52-week low on Wednesday . The stock traded as low as $7.20 and last traded at $7.58, with a volume of 13937708 shares trading hands. The stock had previously closed at $8.31.
Analysts Set New Price Targets
Several research firms recently weighed in on NFE. Morgan Stanley cut their price target on shares of New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 4th. Stifel Nicolaus dropped their target price on shares of New Fortress Energy from $23.00 to $19.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $15.00.
Read Our Latest Stock Analysis on NFE
New Fortress Energy Trading Down 20.8 %
The stock's fifty day moving average price is $11.00 and its 200 day moving average price is $11.20. The stock has a market cap of $1.49 billion, a P/E ratio of 6.00 and a beta of 1.52. 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 - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $613.24 million. Equities research analysts expect that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.
Insider Buying and Selling at New Fortress Energy
In related news, CFO Christopher S. Guinta acquired 5,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $8.57 per share, with a total value of $42,850.00. Following the transaction, the chief financial officer now directly owns 206,653 shares in the company, valued at approximately $1,771,016.21. This represents a 2.48 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 37.10% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of NFE. California State Teachers Retirement System boosted its holdings in shares of New Fortress Energy by 58.4% during the 4th quarter. California State Teachers Retirement System now owns 92,604 shares of the company's stock valued at $1,400,000 after purchasing an additional 34,142 shares during the last quarter. American Assets Investment Management LLC boosted its position in shares of New Fortress Energy by 64.8% during the fourth quarter. American Assets Investment Management LLC now owns 188,012 shares of the company's stock valued at $2,843,000 after buying an additional 73,947 shares during the period. Public Employees Retirement System of Ohio grew its position in New Fortress Energy by 16.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 27,425 shares of the company's stock valued at $415,000 after acquiring an additional 3,778 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of New Fortress Energy by 40.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 197,427 shares of the company's stock worth $2,985,000 after purchasing an additional 56,760 shares during the last quarter. Finally, Waverly Advisors LLC bought a new position in New Fortress Energy in the 4th quarter worth about $242,000. Hedge funds and other institutional investors own 58.61% of the company's stock.
About New Fortress Energy
(
Get Free Report)
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.
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