New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) traded down 9.1% during trading on Monday . The company traded as low as $5.35 and last traded at $5.18. 463,422 shares traded hands during trading, a decline of 90% from the average session volume of 4,770,853 shares. The stock had previously closed at $5.69.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on NFE shares. Citigroup lowered their price objective on 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. Stifel Nicolaus cut their price objective on shares of New Fortress Energy from $23.00 to $19.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a report on Wednesday, March 12th. Finally, Morgan Stanley reduced their price target 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 equities research 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, New Fortress Energy presently has a consensus rating of "Moderate Buy" and an average price target of $13.83.
View Our Latest Analysis on New Fortress Energy
New Fortress Energy Stock Down 12.5 %
The company has a 50 day moving average of $9.04 and a 200-day moving average of $10.88. 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 company has a market cap of $1.36 billion, a P/E ratio of 5.47 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 EPS for the quarter, topping the consensus estimate 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 company had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. On average, equities analysts predict that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.
Insider Transactions 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 on Thursday, March 13th. The shares were purchased at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of the purchase, the chief financial officer now owns 206,653 shares of the company's stock, valued at $1,771,016.21. The trade was a 2.48 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 37.10% of the stock is currently owned by insiders.
Institutional Trading of New Fortress Energy
Several hedge funds have recently added to or reduced their stakes in NFE. Allworth Financial LP grew its holdings in shares of New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company's stock worth $32,000 after purchasing an additional 1,962 shares during the last quarter. GAMMA Investing LLC lifted its position in New Fortress Energy by 148.5% during 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 during the period. Quarry LP bought a new stake in New Fortress Energy during the fourth quarter worth about $64,000. US Bancorp DE boosted its position in shares of New Fortress Energy by 31.5% in the 4th quarter. US Bancorp DE now owns 4,696 shares of the company's stock worth $71,000 after purchasing an additional 1,126 shares in the last quarter. Finally, Hardin Capital Partners LLC bought a new stake in New Fortress Energy in the first quarter worth $83,000. 58.61% of the stock is owned by institutional investors.
About New Fortress Energy
(
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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