New Fortress Energy (NASDAQ:NFE) Shares Down 5.3% – Time to Sell?

New Fortress Energy Inc. (NASDAQ:NFE) was down 5.3% during mid-day trading on Tuesday . The stock traded as low as $15.53 and last traded at $15.43. Approximately 1,965,218 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 4,442,840 shares. The stock had previously closed at $16.29.

Analysts Set New Price Targets

NFE has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a research report on Wednesday, December 4th. Morgan Stanley lowered New Fortress Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $35.00 to $15.00 in a report on Thursday, October 3rd. Finally, Stifel Nicolaus increased their price target on shares of New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.40.

New Fortress Energy Stock Down 4.8 %

The company has a 50 day moving average of $12.61 and a 200-day moving average of $12.96. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The company has a market cap of $3.90 billion, a P/E ratio of 16.94 and a beta of 1.50.

Institutional Investors Weigh In On New Fortress Energy

A number of institutional investors and hedge funds have recently bought and sold shares of NFE. nVerses Capital LLC bought a new stake in New Fortress Energy during the third quarter worth about $25,000. KBC Group NV lifted its position in New Fortress Energy by 116.9% in the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after buying an additional 1,852 shares during the last quarter. US Bancorp DE lifted its position in New Fortress Energy by 344.6% in the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company’s stock worth $32,000 after buying an additional 2,767 shares during the last quarter. Signaturefd LLC boosted its stake in New Fortress Energy by 409.1% in the third quarter. Signaturefd LLC now owns 4,124 shares of the company’s stock worth $37,000 after buying an additional 3,314 shares in the last quarter. Finally, Quarry LP grew its position in New Fortress Energy by 125.7% during the second quarter. Quarry LP now owns 2,250 shares of the company’s stock valued at $49,000 after acquiring an additional 1,253 shares during the last quarter. 58.61% of the stock is owned by hedge funds and other institutional investors.

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.