Shares of New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) hit a new 52-week low during trading on Friday . The company traded as low as $7.58 and last traded at $8.51, with a volume of 18615788 shares traded. The stock had previously closed at $8.80.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on NFE shares. Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a "sell" rating to a "hold" rating and set a $11.00 price target for the company in a research note on Wednesday, December 4th. Morgan Stanley decreased their price objective on 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. Finally, Stifel Nicolaus cut their target price on 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $15.60.
Check Out Our Latest Research Report on New Fortress Energy
New Fortress Energy Stock Down 3.3 %
The company has a market capitalization of $2.32 billion, a PE ratio of 9.35 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. The business has a fifty day moving average of $12.86 and a 200 day moving average of $11.45.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating the consensus estimate 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 anticipate that New Fortress Energy Inc. will post 0.36 EPS for the current year.
Insiders Place Their Bets
In related news, CFO Christopher S. Guinta acquired 5,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was acquired 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 owns 206,653 shares of the company's stock, valued at $1,771,016.21. This represents a 2.48 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 37.10% of the company's stock.
Institutional Trading of New Fortress Energy
Hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE increased its position 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 purchasing an additional 2,767 shares during the last quarter. KBC Group NV grew its stake in shares of New Fortress Energy by 116.9% during the third quarter. KBC Group NV now owns 3,436 shares of the company's stock worth $31,000 after purchasing an additional 1,852 shares in the last quarter. Quest Partners LLC increased its holdings in New Fortress Energy by 209.9% in the third quarter. Quest Partners LLC now owns 35,421 shares of the company's stock valued at $322,000 after buying an additional 23,993 shares during the last quarter. Primecap Management Co. CA raised its stake in New Fortress Energy by 43.7% in the third quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company's stock valued at $104,827,000 after buying an additional 3,505,975 shares in the last quarter. Finally, Nicolet Advisory Services LLC purchased a new stake in New Fortress Energy during the 3rd quarter worth about $104,000. Institutional investors and hedge funds own 58.61% of the company's stock.
New Fortress Energy Company Profile
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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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