New Fortress Energy (NASDAQ:NFE) Stock Price Down 7.4% - Here's Why

Shares of New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) fell 7.4% during mid-day trading on Tuesday . The company traded as low as $7.73 and last traded at $7.70. 1,216,001 shares were traded during trading, a decline of 71% from the average session volume of 4,224,026 shares. The stock had previously closed at $8.31.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NFE shares. Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a report on Wednesday, March 12th. Stifel Nicolaus cut their price target on New Fortress Energy from $23.00 to $19.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Finally, Morgan Stanley lowered 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $15.00.

New Fortress Energy Stock Down 20.8 %

The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 6.00 and a beta of 1.52. The firm has a 50 day simple moving average of $11.00 and a two-hundred day simple moving average of $11.20.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.07. The company had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. As a group, sell-side analysts expect that New Fortress Energy Inc. will post 0.36 EPS for the current year.

Insider Activity at New Fortress Energy

In other New Fortress Energy news, CFO Christopher S. Guinta purchased 5,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $8.57 per share, with a total value of $42,850.00. Following 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 37.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On New Fortress Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP raised its holdings in New Fortress Energy by 2,156.0% during the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company's stock worth $32,000 after acquiring an additional 1,962 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock valued at $60,000 after buying an additional 2,370 shares in the last quarter. Quarry LP acquired a new position in New Fortress Energy during the fourth quarter worth $64,000. US Bancorp DE raised its position in New Fortress Energy by 31.5% during the fourth quarter. US Bancorp DE now owns 4,696 shares of the company's stock worth $71,000 after acquiring an additional 1,126 shares in the last quarter. Finally, Ancora Advisors LLC bought a new position in shares of New Fortress Energy in the 4th quarter valued at about $91,000. 58.61% of the stock is owned by institutional investors.

New Fortress Energy Company Profile

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.