New Fortress Energy (NASDAQ:NFE) Stock Price Down 7.4% – What’s Next?

New Fortress Energy Inc. (NASDAQ:NFE)’s stock price fell 7.4% during mid-day trading on Tuesday . The company traded as low as $7.73 and last traded at $7.70. 1,216,001 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 4,224,026 shares. The stock had previously closed at $8.31.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 4th. Stifel Nicolaus decreased their price target on shares of 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 objective on shares of New Fortress Energy in a research note on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.00.

New Fortress Energy Stock Performance

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 $2.35 billion, a price-to-earnings ratio of 9.42 and a beta of 1.58. The firm has a 50 day simple moving average of $11.38 and a 200-day simple moving average of $11.28.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. The firm had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. As a group, analysts predict that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Christopher S. Guinta bought 5,000 shares of the 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 directly owns 206,653 shares of the company’s stock, valued at $1,771,016.21. This trade represents a 2.48 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 37.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On New Fortress Energy

Large investors have recently modified their holdings of the company. Allworth Financial LP grew its stake in shares of New Fortress Energy by 2,156.0% during the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock worth $32,000 after purchasing 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 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after acquiring an additional 2,370 shares in the last quarter. Quarry LP purchased a new position in shares of New Fortress Energy in the 4th quarter valued at about $64,000. US Bancorp DE raised its position in shares of New Fortress Energy by 31.5% during the 4th quarter. US Bancorp DE now owns 4,696 shares of the company’s stock worth $71,000 after acquiring an additional 1,126 shares in the last quarter. Finally, Ancora Advisors LLC purchased a new stake in New Fortress Energy during the fourth quarter worth approximately $91,000. 58.61% of the stock is owned by hedge funds and other institutional investors.

New Fortress Energy Company Profile

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.