New Fortress Energy (NASDAQ:NFE) Hits New 12-Month Low – Time to Sell?

New Fortress Energy Inc. (NASDAQ:NFE)’s share price hit a new 52-week low on Wednesday . The company traded as low as $7.20 and last traded at $7.58, with a volume of 13937708 shares changing hands. The stock had previously closed at $8.31.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Morgan Stanley reduced their price objective on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 4th. Stifel Nicolaus cut their price target on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.00.

New Fortress Energy Stock Down 8.8 %

The business has a fifty day moving average of $11.52 and a 200 day moving average of $11.30. 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 has a market cap of $2.08 billion, a P/E ratio of 8.33 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. The business had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. On average, equities research analysts predict that New Fortress Energy Inc. will post 0.36 EPS for the current year.

Insider Activity

In other New Fortress Energy news, CFO Christopher S. Guinta acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the transaction, the chief financial officer now owns 206,653 shares of the company’s stock, valued at $1,771,016.21. This trade represents a 2.48 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 37.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP lifted its position in New Fortress Energy by 2,156.0% in the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after acquiring an additional 1,962 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of New Fortress Energy by 148.5% during the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after buying an additional 2,370 shares during the period. Quarry LP bought a new position in shares of New Fortress Energy during the fourth quarter worth about $64,000. US Bancorp DE raised its position in New Fortress Energy by 31.5% in the 4th quarter. US Bancorp DE now owns 4,696 shares of the company’s stock valued at $71,000 after buying an additional 1,126 shares during the last quarter. Finally, Ancora Advisors LLC bought a new stake in New Fortress Energy in the 4th quarter valued at approximately $91,000. Institutional investors and hedge funds 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.