New Fortress Energy (NASDAQ:NFE) Stock Price Down 5.4% – Should You Sell?

New Fortress Energy LLC (NASDAQ:NFE)’s stock price traded down 5.4% during trading on Tuesday . The company traded as low as $13.3950 and last traded at $13.1260. 95,418 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 161,582 shares. The stock had previously closed at $13.88.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of New Fortress Energy in a research report on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce”.

New Fortress Energy Stock Down 2.0%

The company has a quick ratio of 0.15, a current ratio of 0.16 and a debt-to-equity ratio of 3.57. The company has a 50-day simple moving average of $15.45 and a two-hundred day simple moving average of $26.92. The stock has a market cap of $71.43 million, a P/E ratio of -4.63 and a beta of 1.35.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results on Thursday, August 6th. The company reported ($1.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($10.50) by $9.20. New Fortress Energy had a negative net margin of 149.40% and a negative return on equity of 795.34%. The firm had revenue of $312.50 million for the quarter, compared to analysts’ expectations of $511.60 million. On average, equities analysts forecast that New Fortress Energy LLC will post -59.5 EPS for the current year.

Hedge Funds Weigh In On New Fortress Energy

A number of hedge funds have recently modified their holdings of NFE. NINE MASTS CAPITAL Ltd bought a new position in shares of New Fortress Energy during the second quarter valued at about $304,000. Primecap Management Co. CA bought a new stake in shares of New Fortress Energy in the second quarter worth about $33,000. X Square Capital LLC purchased a new position in New Fortress Energy during the 2nd quarter valued at about $33,000. Bank of New York Mellon Corp purchased a new position in New Fortress Energy during the 2nd quarter valued at about $59,000. Finally, Lazard Asset Management LLC increased its holdings in New Fortress Energy by 1,765.5% during the 1st quarter. Lazard Asset Management LLC now owns 1,614,029 shares of the company’s stock valued at $952,000 after purchasing an additional 1,527,509 shares during the period. Hedge funds and other institutional investors own 58.61% of the company’s stock.

About New Fortress Energy

New Fortress Energy Inc (NASDAQ:NFE) is an energy infrastructure company that develops, owns and operates natural gas and liquefied natural gas (LNG) facilities. Its activities span the LNG value chain, including natural gas procurement, liquefaction, transportation, storage, regasification and delivery to customers.

The company provides LNG and natural gas through a network of terminals, pipelines, floating storage and regasification units, and related infrastructure. It also develops and operates gas-fired power generation facilities, supplying electricity and fuel to utilities, commercial and industrial customers, and other users seeking alternatives to more carbon-intensive energy sources.

Founded in 2014, New Fortress Energy has developed projects in the United States, the Caribbean and Latin America, including infrastructure serving markets such as Puerto Rico, Jamaica, Mexico and Brazil.