New Fortress Energy (NASDAQ:NFE) Reaches New 12-Month Low - Should You Sell?

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $2.24 and last traded at $2.22, with a volume of 11990814 shares. The stock had previously closed at $2.63.

Wall Street Analyst Weigh In

NFE has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a report on Wednesday, March 12th. BTIG Research set a $8.00 target price on shares of New Fortress Energy and gave the company a "buy" rating in a research note on Thursday, May 15th. Citigroup dropped their target price on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Stifel Nicolaus reduced their price target on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Morgan Stanley set a $4.00 price objective on shares of New Fortress Energy and gave the company an "equal weight" rating in a research report on Tuesday, May 27th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, New Fortress Energy currently has an average rating of "Moderate Buy" and an average target price of $10.17.

New Fortress Energy Trading Up 3.7%

The firm's fifty day moving average price is $4.14 and its 200-day moving average price is $9.22. The company has a market cap of $610.51 million, a price-to-earnings ratio of -0.99 and a beta of 1.21. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.94 and a quick ratio of 0.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers raised its stake in shares of New Fortress Energy by 552.2% during the fourth quarter. Cetera Investment Advisers now owns 130,650 shares of the company's stock valued at $1,975,000 after purchasing an additional 110,617 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in New Fortress Energy by 32.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,470,832 shares of the company's stock valued at $22,239,000 after buying an additional 359,421 shares during the period. Two Sigma Investments LP raised its position in shares of New Fortress Energy by 186.9% during the 4th quarter. Two Sigma Investments LP now owns 170,852 shares of the company's stock worth $2,583,000 after buying an additional 111,300 shares in the last quarter. Mork Capital Management LLC acquired a new stake in shares of New Fortress Energy in the 4th quarter worth approximately $1,046,000. Finally, Brandywine Global Investment Management LLC bought a new position in shares of New Fortress Energy in the fourth quarter valued at approximately $19,618,000. Institutional investors own 58.61% of the company's stock.

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.