New Fortress Energy (NASDAQ:NFE) Shares Down 5.2% - Time to Sell?

New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report)'s share price traded down 5.2% during mid-day trading on Tuesday . The company traded as low as $14.21 and last traded at $14.11. 1,865,714 shares changed hands during trading, a decline of 50% from the average session volume of 3,759,501 shares. The stock had previously closed at $14.88.

Wall Street Analyst Weigh In

Several brokerages have commented on NFE. Deutsche Bank Aktiengesellschaft upgraded shares of 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 upped their price target on New Fortress Energy from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Monday, December 23rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $15.40.

New Fortress Energy Stock Performance

The company has a 50 day moving average price of $14.03 and a 200 day moving average price of $12.37. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 13.47 and a beta of 1.49. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38.

Hedge Funds Weigh In On New Fortress Energy

Several large investors have recently bought and sold shares of NFE. nVerses Capital LLC bought a new stake in shares of New Fortress Energy during the 3rd quarter valued at $25,000. KBC Group NV boosted its position in New Fortress Energy by 116.9% during the third quarter. KBC Group NV now owns 3,436 shares of the company's stock valued at $31,000 after buying an additional 1,852 shares during the period. US Bancorp DE grew its position in New Fortress Energy by 344.6% during the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company's stock worth $32,000 after acquiring an additional 2,767 shares during the last quarter. 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. Finally, Signaturefd LLC increased its position in shares of New Fortress Energy by 409.1% in the third quarter. Signaturefd LLC now owns 4,124 shares of the company's stock valued at $37,000 after acquiring an additional 3,314 shares during the period. 58.61% of the stock is currently 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.