New Fortress Energy (NASDAQ:NFE) Trading Down 9.1% – Should You Sell?

New Fortress Energy Inc. (NASDAQ:NFE)’s stock price dropped 9.1% during trading on Monday . The company traded as low as $5.35 and last traded at $5.18. Approximately 463,422 shares were traded during trading, a decline of 90% from the average daily volume of 4,770,853 shares. The stock had previously closed at $5.69.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley decreased their price objective on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, March 4th. Stifel Nicolaus lowered their price target on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a report on Wednesday, March 12th. Finally, Citigroup reduced their price target on shares of New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.83.

New Fortress Energy Stock Down 12.5 %

The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The stock has a market cap of $1.36 billion, a PE ratio of 5.47 and a beta of 1.52. The company’s 50-day moving average price is $9.04 and its 200 day moving average price is $10.88.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings data 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. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. The firm had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. As a group, analysts forecast that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Christopher S. Guinta acquired 5,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $8.57 per share, with a total value of $42,850.00. Following the acquisition, the chief financial officer now directly owns 206,653 shares of the company’s stock, valued at approximately $1,771,016.21. This trade represents a 2.48 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 37.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On New Fortress Energy

Institutional investors have recently added to or reduced their stakes in the company. Stifel Financial Corp purchased a new position in shares of New Fortress Energy in the third quarter valued at $990,000. State Street Corp lifted its position in New Fortress Energy by 4.9% during the third quarter. State Street Corp now owns 1,205,046 shares of the company’s stock valued at $10,954,000 after purchasing an additional 56,153 shares during the last quarter. Franklin Resources Inc. boosted its stake in New Fortress Energy by 8.5% during the third quarter. Franklin Resources Inc. now owns 161,095 shares of the company’s stock worth $1,555,000 after buying an additional 12,587 shares during the period. GAMMA Investing LLC increased 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 acquiring an additional 2,370 shares during the last quarter. Finally, SL Advisors LLC bought a new stake in shares of New Fortress Energy in the 4th quarter worth about $1,000,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

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.