New Fortress Energy (NASDAQ:NFE) Stock Price Down 5.1% - Should You Sell?

Key Points

• New Fortress Energy's stock dropped by 5.1%, trading at approximately $2.31, significantly lower than its previous close of $2.43.
• Analyst ratings show a mixed outlook, with three analysts recommending a Buy, five a Hold, and two a Sell, leading to a current consensus rating of "Hold" with a target price of $7.88.
• The company reported a significant quarterly loss, with earnings per share at ($2.02), missing expectations and reflecting a revenue decline of 29.5% year-over-year.

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report)'s stock price was down 5.1% during mid-day trading on Tuesday . The company traded as low as $2.29 and last traded at $2.31. Approximately 4,205,728 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 11,366,604 shares. The stock had previously closed at $2.43.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Weiss Ratings restated a "sell (d)" rating on shares of New Fortress Energy in a research report on Saturday, September 27th. New Street Research set a $8.50 price objective on New Fortress Energy in a research report on Monday, June 30th. BTIG Research downgraded New Fortress Energy from a "buy" rating to a "neutral" rating in a research report on Thursday, June 26th. Zacks Research upgraded New Fortress Energy to a "hold" rating in a report on Monday, August 11th. Finally, Compass Point began coverage on shares of New Fortress Energy in a report on Tuesday, July 1st. They set a "buy" rating and a $8.50 price objective on the stock. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $7.88.

New Fortress Energy Stock Down 6.0%

The company has a current ratio of 0.67, a quick ratio of 0.64 and a debt-to-equity ratio of 5.77. The firm has a market capitalization of $650.20 million, a price-to-earnings ratio of -0.60 and a beta of 1.26. The firm has a 50 day moving average price of $2.37 and a two-hundred day moving average price of $3.86.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last posted its quarterly earnings data on Saturday, September 13th. The company reported ($2.02) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($1.38). New Fortress Energy had a negative net margin of 48.94% and a negative return on equity of 22.72%. The company's revenue for the quarter was down 29.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.41) EPS. On average, equities analysts expect that New Fortress Energy LLC will post 0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On New Fortress Energy

A number of institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in shares of New Fortress Energy by 11.2% during the 1st quarter. Victory Capital Management Inc. now owns 21,474 shares of the company's stock worth $178,000 after buying an additional 2,157 shares during the last quarter. CWM LLC grew its position in shares of New Fortress Energy by 46.9% in the first quarter. CWM LLC now owns 9,065 shares of the company's stock valued at $75,000 after purchasing an additional 2,895 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of New Fortress Energy by 31.0% during the first quarter. Brown Advisory Inc. now owns 13,100 shares of the company's stock worth $109,000 after purchasing an additional 3,100 shares during the period. AlphaQuest LLC lifted its holdings in New Fortress Energy by 15.6% during the 1st quarter. AlphaQuest LLC now owns 25,185 shares of the company's stock worth $209,000 after purchasing an additional 3,404 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in New Fortress Energy by 3.7% in the 1st quarter. Rhumbline Advisers now owns 101,283 shares of the company's stock worth $842,000 after purchasing an additional 3,653 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

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.

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