New Fortress Energy (NASDAQ:NFE) Trading Down 8.2% - Should You Sell?

Shares of New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) dropped 8.2% during mid-day trading on Monday . The stock traded as low as $9.38 and last traded at $9.18. Approximately 2,515,568 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 4,180,159 shares. The stock had previously closed at $10.00.

Analyst Ratings Changes

A number of research firms have weighed in on NFE. Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a "sell" rating to a "hold" rating and set a $11.00 price objective for the company in a research report on Wednesday, December 4th. Stifel Nicolaus decreased their price target on New Fortress Energy from $23.00 to $19.00 and set a "buy" rating for the company in a report on Tuesday. Finally, 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. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $15.60.

New Fortress Energy Trading Up 1.9 %

The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The business's fifty day moving average is $13.48 and its 200 day moving average is $11.58. The stock has a market cap of $2.69 billion, a PE ratio of 10.85 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.07. The business had revenue of $679.00 million for the quarter, compared to analysts' expectations 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, analysts predict that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.

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Institutional Investors Weigh In On New Fortress Energy

A number of large investors have recently added to or reduced their stakes in the business. Capital World Investors grew its position in shares of New Fortress Energy by 87.9% in the fourth quarter. Capital World Investors now owns 19,925,022 shares of the company's stock valued at $301,266,000 after purchasing an additional 9,319,985 shares during the last quarter. William Blair Investment Management LLC grew its holdings in New Fortress Energy by 40.8% during the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock valued at $235,374,000 after buying an additional 4,509,177 shares during the last quarter. Primecap Management Co. CA grew its holdings in New Fortress Energy by 13.6% during the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company's stock valued at $198,027,000 after buying an additional 1,564,893 shares during the last quarter. Vanguard Group Inc. increased its position 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 shares of New Fortress Energy in the fourth quarter worth $155,023,000. 58.61% of the stock is owned by institutional investors and hedge funds.

About New Fortress Energy

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.