New Fortress Energy (NASDAQ:NFE) Shares Down 3.2% – Should You Sell?

New Fortress Energy LLC (NASDAQ:NFE)’s stock price was down 3.2% on Tuesday . The company traded as low as $0.3574 and last traded at $0.3661. Approximately 1,776,071 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 4,970,428 shares. The stock had previously closed at $0.3781.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of New Fortress Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, April 18th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $4.00.

New Fortress Energy Trading Up 4.8%

The stock has a market cap of $110.60 million, a PE ratio of -0.17 and a beta of 1.33. The firm has a 50-day simple moving average of $0.54 and a 200-day simple moving average of $0.88. The company has a quick ratio of 0.11, a current ratio of 0.13 and a debt-to-equity ratio of 3.57.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($1.40) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($1.21). New Fortress Energy had a negative net margin of 164.16% and a negative return on equity of 253.73%. The company had revenue of $226.95 million during the quarter, compared to analysts’ expectations of $508.60 million. Equities analysts forecast that New Fortress Energy LLC will post -1.25 earnings per share for the current year.

Institutional Investors Weigh In On New Fortress Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rubric Capital Management LP lifted its holdings in shares of New Fortress Energy by 1.5% in the third quarter. Rubric Capital Management LP now owns 24,767,087 shares of the company’s stock worth $54,735,000 after buying an additional 367,087 shares in the last quarter. Long Focus Capital Management LLC increased its holdings in New Fortress Energy by 43.7% during the 3rd quarter. Long Focus Capital Management LLC now owns 7,400,000 shares of the company’s stock worth $16,354,000 after acquiring an additional 2,250,000 shares during the period. Shay Capital LLC increased its holdings in New Fortress Energy by 272.1% during the 3rd quarter. Shay Capital LLC now owns 5,675,000 shares of the company’s stock worth $12,542,000 after acquiring an additional 4,150,000 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in New Fortress Energy by 85.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,499,203 shares of the company’s stock worth $5,129,000 after purchasing an additional 2,072,477 shares in the last quarter. Finally, State Street Corp lifted its stake in New Fortress Energy by 11.3% in the 4th quarter. State Street Corp now owns 3,846,958 shares of the company’s stock worth $4,386,000 after purchasing an additional 389,297 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors.

New Fortress Energy Company Profile

New Fortress Energy is an integrated global energy infrastructure company focused on the development, construction and operation of natural gas-to-power projects and liquefied natural gas (LNG) terminals. The company sources LNG and delivers it via a network of floating storage and regasification units (FSRUs), onshore regasification terminals, and small-scale LNG carriers. By providing reliable natural gas supply solutions, New Fortress Energy aims to displace higher-carbon fuels in power generation, industrial and marine sectors.

The company’s core activities include the design, development and operation of FSRUs and onshore regasification terminals that convert cryogenic LNG back to gas for delivery into domestic transmission networks.