New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) traded down 9.1% on Monday . The stock traded as low as $5.35 and last traded at $5.18. 463,422 shares were traded during trading, a decline of 90% from the average session volume of 4,770,853 shares. The stock had previously closed at $5.69.
Analyst Ratings Changes
NFE has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a report on Wednesday, March 12th. Stifel Nicolaus dropped their target price 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. Citigroup reduced their price target on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Morgan Stanley dropped their price objective on shares of 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.
Read Our Latest Analysis on New Fortress Energy
New Fortress Energy Trading Down 6.0 %
The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The firm has a market capitalization of $1.51 billion, a P/E ratio of 6.07 and a beta of 1.52. The business has a 50 day moving average of $8.36 and a 200-day moving average of $10.71.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.06 by $0.07. The business had revenue of $679.00 million for the quarter, compared to analysts' expectations of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. Analysts anticipate that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.
Insider Activity at New Fortress Energy
In related news, CFO Christopher S. Guinta bought 5,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the transaction, the chief financial officer now owns 206,653 shares in the company, valued at $1,771,016.21. The trade was a 2.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 37.10% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of NFE. Allworth Financial LP boosted its holdings in shares of 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 buying an additional 1,962 shares during the last quarter. GAMMA Investing LLC lifted its stake in New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock valued at $60,000 after acquiring an additional 2,370 shares during the last quarter. Quarry LP bought a new position in shares of New Fortress Energy in the 4th quarter valued at about $64,000. US Bancorp DE increased its stake 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 purchasing an additional 1,126 shares during the last quarter. Finally, Hardin Capital Partners LLC bought a new stake in shares of New Fortress Energy in the 1st quarter valued at about $83,000. 58.61% of the stock is currently owned by institutional investors.
New Fortress Energy Company Profile
(
Get Free Report)
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.
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