New Fortress Energy (NASDAQ:NFE) Shares Gap Down - Time to Sell?

Shares of New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $2.28, but opened at $2.11. New Fortress Energy shares last traded at $2.21, with a volume of 1,032,569 shares.

Wall Street Analysts Forecast Growth

NFE has been the topic of a number of research analyst reports. Stifel Nicolaus cut their price objective on shares of New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. BTIG Research cut shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a report on Thursday. Citigroup cut their price objective 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. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a report on Wednesday, March 12th. Finally, Morgan Stanley set a $4.00 target price on shares of New Fortress Energy and gave the company an "equal weight" rating in a report on Tuesday, May 27th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $10.17.

New Fortress Energy Stock Performance

The stock has a market cap of $684.43 million, a price-to-earnings ratio of -1.11 and a beta of 1.21. The stock's 50 day moving average is $3.82 and its two-hundred day moving average is $8.84. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 4.00.

Institutional Trading of New Fortress Energy

Large investors have recently bought and sold shares of the business. Capital World Investors lifted its stake in shares of New Fortress Energy by 87.9% in the fourth quarter. Capital World Investors now owns 19,925,022 shares of the company's stock valued at $301,266,000 after purchasing an additional 9,319,985 shares during the period. William Blair Investment Management LLC lifted its stake in shares of New Fortress Energy by 40.8% in the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock valued at $235,374,000 after purchasing an additional 4,509,177 shares during the period. Vanguard Group Inc. lifted its stake in shares of New Fortress Energy by 22.6% in the first quarter. Vanguard Group Inc. now owns 13,879,490 shares of the company's stock valued at $115,339,000 after purchasing an additional 2,560,242 shares during the period. Primecap Management Co. CA lifted its stake in shares of New Fortress Energy by 13.6% in the fourth quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company's stock valued at $198,027,000 after purchasing an additional 1,564,893 shares during the period. Finally, Hood River Capital Management LLC acquired a new stake in shares of New Fortress Energy in the fourth quarter valued at about $155,023,000. 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.