Shares of New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $4.72 and last traded at $5.10, with a volume of 1822972 shares. The stock had previously closed at $4.98.
Analysts Set New Price Targets
NFE has been the topic of a number of recent analyst reports. Citigroup cut their target price on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a report on Wednesday, March 12th. Stifel Nicolaus dropped their price target 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. Finally, Morgan Stanley dropped their target price 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, New Fortress Energy presently has an average rating of "Moderate Buy" and an average target price of $13.83.
Get Our Latest Research Report on New Fortress Energy
New Fortress Energy Stock Down 12.7 %
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 stock has a 50-day moving average of $9.04 and a 200-day moving average of $10.88. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 5.46 and a beta of 1.52.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last issued its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share 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 firm had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. As a group, sell-side analysts forecast that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.
Insider Buying and Selling at New Fortress Energy
In related news, CFO Christopher S. Guinta purchased 5,000 shares of the company's stock in a transaction 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 transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 37.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On New Fortress Energy
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFE. Capital World Investors boosted its stake in New Fortress Energy by 87.9% during the fourth quarter. Capital World Investors now owns 19,925,022 shares of the company's stock valued at $301,266,000 after buying an additional 9,319,985 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of New Fortress Energy by 40.8% in the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock worth $235,374,000 after purchasing an additional 4,509,177 shares in the last quarter. Primecap Management Co. CA lifted its stake in New Fortress Energy by 13.6% during the fourth quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company's stock valued at $198,027,000 after purchasing an additional 1,564,893 shares during the last quarter. Vanguard Group Inc. boosted its holdings in New Fortress Energy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company's stock worth $171,147,000 after buying an additional 2,728,191 shares in the last quarter. Finally, Hood River Capital Management LLC acquired a new position in New Fortress Energy in the fourth quarter worth approximately $155,023,000. 58.61% of the stock is owned by institutional investors.
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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