New Fortress Energy (NASDAQ:NFE) Stock Price Down 5.2% - Here's Why

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) shares were down 5.2% during trading on Monday . The stock traded as low as $3.95 and last traded at $3.94. Approximately 1,566,485 shares changed hands during trading, a decline of 78% from the average daily volume of 7,168,850 shares. The stock had previously closed at $4.15.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NFE shares. New Street Research set a $8.50 target price on shares of New Fortress Energy in a report on Monday, June 30th. BTIG Research cut shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a report on Thursday, June 26th. Stifel Nicolaus lowered 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 report on Tuesday, April 22nd. Morgan Stanley set a $4.00 price target on shares of New Fortress Energy and gave the stock an "equal weight" rating in a research report on Tuesday, May 27th. Finally, Compass Point assumed coverage on shares of New Fortress Energy in a research report on Tuesday, July 1st. They set a "buy" rating and a $8.50 price target on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, New Fortress Energy has a consensus rating of "Hold" and a consensus price target of $9.75.

New Fortress Energy Trading Up 12.2%

The business's 50 day simple moving average is $3.36 and its two-hundred day simple moving average is $8.04. The stock has a market cap of $1.23 billion, a P/E ratio of -2.00 and a beta of 1.30. The company has a quick ratio of 0.95, a current ratio of 1.00 and a debt-to-equity ratio of 4.77.

Institutional Trading of New Fortress Energy

A number of hedge funds and other institutional investors have recently modified their holdings of NFE. Hardin Capital Partners LLC grew its stake in shares of New Fortress Energy by 50.0% during the second quarter. Hardin Capital Partners LLC now owns 15,000 shares of the company's stock worth $54,000 after buying an additional 5,000 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of New Fortress Energy during the second quarter worth $56,000. Quarry LP acquired a new position in shares of New Fortress Energy during the fourth quarter worth $64,000. US Bancorp DE lifted its holdings in shares of New Fortress Energy by 81.7% during the first quarter. US Bancorp DE now owns 8,534 shares of the company's stock worth $71,000 after purchasing an additional 3,838 shares during the period. Finally, CWM LLC lifted its holdings in shares of New Fortress Energy by 46.9% during the first quarter. CWM LLC now owns 9,065 shares of the company's stock worth $75,000 after purchasing an additional 2,895 shares during the period. 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.