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

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on NFE. 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 note on Tuesday, April 22nd. 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 research note on Wednesday, April 9th. Morgan Stanley set a $4.00 price target on shares of New Fortress Energy and gave the company an "equal weight" rating in a research report on Tuesday, May 27th. New Street Research set a $8.50 price objective on shares of New Fortress Energy in a report on Monday, June 30th. Finally, BTIG Research downgraded shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a report on Thursday, June 26th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $9.75.

New Fortress Energy Trading Down 5.4%

The company has a debt-to-equity ratio of 4.77, a current ratio of 1.00 and a quick ratio of 0.95. The company's 50 day moving average price is $3.47 and its two-hundred day moving average price is $8.17. The stock has a market capitalization of $1.08 billion, a PE ratio of -1.74 and a beta of 1.30.

Institutional Investors Weigh In On New Fortress Energy

A number of institutional investors have recently made changes to their positions in the stock. Hardin Capital Partners LLC grew its holdings in shares of New Fortress Energy by 50.0% in the second quarter. Hardin Capital Partners LLC now owns 15,000 shares of the company's stock valued at $54,000 after purchasing an additional 5,000 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in New Fortress Energy in the second quarter worth approximately $56,000. Quarry LP purchased a new position in New Fortress Energy in the fourth quarter worth approximately $64,000. US Bancorp DE lifted its stake in New Fortress Energy by 31.5% in the fourth quarter. US Bancorp DE now owns 4,696 shares of the company's stock worth $71,000 after acquiring an additional 1,126 shares during the last quarter. Finally, CWM LLC lifted its stake in New Fortress Energy by 46.9% in the first quarter. CWM LLC now owns 9,065 shares of the company's stock worth $75,000 after acquiring an additional 2,895 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

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.

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