New Fortress Energy (NASDAQ:NFE) Stock Price Down 5.9% – Time to Sell?

New Fortress Energy Inc. (NASDAQ:NFE) traded down 5.9% on Wednesday . The stock traded as low as $11.26 and last traded at $11.20. 1,023,095 shares were traded during trading, a decline of 75% from the average session volume of 4,062,546 shares. The stock had previously closed at $11.90.

Analyst Upgrades and Downgrades

NFE has been the topic of a number of recent research reports. Stifel Nicolaus decreased their target price 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. Morgan Stanley dropped their price objective on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a research note on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, New Fortress Energy has a consensus rating of “Hold” and a consensus price target of $15.00.

New Fortress Energy Price Performance

The company has a market capitalization of $3.06 billion, a PE ratio of 12.32 and a beta of 1.58. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The firm’s 50 day simple moving average is $12.20 and its 200 day simple moving average is $11.36.

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

Insiders Place Their Bets

In other news, CFO Christopher S. Guinta acquired 5,000 shares of New Fortress Energy stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $8.57 per share, with a total value of $42,850.00. Following the purchase, the chief financial officer now owns 206,653 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. 37.10% of the stock is owned by insiders.

Institutional Investors Weigh In On New Fortress Energy

Large investors have recently modified their holdings of the business. Hood River Capital Management LLC acquired a new position in New Fortress Energy during the fourth quarter worth about $155,023,000. Capital World Investors lifted its holdings in shares of New Fortress Energy by 87.9% in the 4th quarter. Capital World Investors now owns 19,925,022 shares of the company’s stock worth $301,266,000 after acquiring an additional 9,319,985 shares during the last quarter. William Blair Investment Management LLC increased its stake in New Fortress Energy by 40.8% during the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock worth $235,374,000 after purchasing an additional 4,509,177 shares during the period. Vanguard Group Inc. grew its holdings in shares of New Fortress Energy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock valued at $171,147,000 after purchasing an additional 2,728,191 shares in the last quarter. Finally, Primecap Management Co. CA increased its stake in New Fortress Energy by 13.6% during the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company’s stock worth $198,027,000 after buying an additional 1,564,893 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 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.