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

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

Analysts Set New Price Targets

Several research firms recently issued reports on NFE. Morgan Stanley cut their target price on 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. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a research report on Wednesday, March 12th. Finally, Stifel Nicolaus reduced their target price 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.00.

New Fortress Energy Stock Down 16.2 %

The company’s fifty day simple moving average is $11.99 and its 200 day simple moving average is $11.34. 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 capitalization of $2.54 billion, a PE ratio of 10.20 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 15.60% and a net margin of 7.84%. Analysts anticipate that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Christopher S. Guinta bought 5,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $8.57 per share, with a total value of $42,850.00. Following the completion of the acquisition, the chief financial officer now owns 206,653 shares of the company’s stock, valued at approximately $1,771,016.21. This represents a 2.48 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On New Fortress Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Stifel Financial Corp bought a new position in shares of New Fortress Energy during the third quarter valued at $990,000. Redwood Wealth Management Group LLC bought a new position in New Fortress Energy during the 4th quarter valued at about $749,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of New Fortress Energy during the 4th quarter valued at about $1,252,000. GSG Advisors LLC bought a new stake in shares of New Fortress Energy in the fourth quarter worth approximately $605,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of New Fortress Energy during the fourth quarter valued at approximately $8,316,000. 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.