New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report)'s share price traded down 5.9% during trading on Wednesday . The company traded as low as $11.26 and last traded at $11.20. 1,023,095 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 4,062,546 shares. The stock had previously closed at $11.90.
Analyst Ratings Changes
A number of brokerages have weighed in on NFE. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a report on Wednesday, March 12th. Morgan Stanley dropped their price objective on shares of New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus decreased 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, New Fortress Energy has an average rating of "Hold" and a consensus price target of $15.00.
Read Our Latest Analysis on NFE
New Fortress Energy Stock Performance
The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 9.73 and a beta of 1.58. The stock's fifty day moving average is $11.84 and its two-hundred day moving average is $11.34. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its quarterly earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.06 by $0.07. The company had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. On average, analysts expect that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.
Insider Activity
In related news, CFO Christopher S. Guinta acquired 5,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the purchase, the chief financial officer now directly owns 206,653 shares of the company's stock, valued at $1,771,016.21. The trade was a 2.48 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 37.10% of the company's stock.
Institutional Investors Weigh In On New Fortress Energy
Institutional investors have recently added to or reduced their stakes in the company. Hood River Capital Management LLC acquired a new position in shares of New Fortress Energy during the 4th quarter valued at $155,023,000. 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 grew its holdings in New Fortress Energy by 40.8% during the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock worth $235,374,000 after acquiring an additional 4,509,177 shares during the period. Vanguard Group Inc. raised its position in New Fortress Energy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company's stock worth $171,147,000 after acquiring an additional 2,728,191 shares in the last quarter. Finally, Primecap Management Co. CA lifted its holdings in New Fortress Energy by 13.6% in the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company's stock valued at $198,027,000 after acquiring an additional 1,564,893 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.
New Fortress Energy Company Profile
(
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.
Featured Articles
Before you consider New Fortress Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New Fortress Energy wasn't on the list.
While New Fortress Energy currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
