New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) shares hit a new 52-week low on Tuesday . The company traded as low as $4.80 and last traded at $5.74, with a volume of 11608012 shares changing hands. The stock had previously closed at $5.46.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on NFE. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a research report on Wednesday, March 12th. Stifel Nicolaus lowered their price objective on 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. Citigroup cut their price objective on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Morgan Stanley cut their price objective on 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $13.83.
Get Our Latest Report on New Fortress Energy
New Fortress Energy Stock Performance
The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 6.48 and a beta of 1.52. The stock's 50 day moving average is $9.76 and its 200 day moving average is $10.99. 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 posted its quarterly earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. Analysts anticipate 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 other news, CFO Christopher S. Guinta bought 5,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the acquisition, the chief financial officer now directly owns 206,653 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 37.10% of the company's stock.
Institutional Trading of New Fortress Energy
Several institutional investors have recently made changes to their positions in the company. Brandywine Global Investment Management LLC bought a new stake in shares of New Fortress Energy in the 4th quarter worth approximately $19,618,000. Raymond James Financial Inc. purchased a new position in shares of New Fortress Energy during the 4th quarter valued at $787,000. Huber Capital Management LLC raised its holdings in shares of New Fortress Energy by 44.9% in the 4th quarter. Huber Capital Management LLC now owns 1,231,644 shares of the company's stock valued at $18,622,000 after acquiring an additional 381,758 shares in the last quarter. Norges Bank bought a new stake in New Fortress Energy during the fourth quarter valued at approximately $10,135,000. Finally, Stifel Financial Corp bought a new position in New Fortress Energy in the third quarter valued at $990,000. Institutional investors own 58.61% of the company's stock.
About New Fortress Energy
(
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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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