New Fortress Energy (NASDAQ:NFE) Trading Down 5.9% - Should You Sell?

New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) was down 5.9% during trading on Friday . The stock traded as low as $2.80 and last traded at $2.82. Approximately 3,448,381 shares were traded during trading, a decline of 44% from the average daily volume of 6,199,174 shares. The stock had previously closed at $2.99.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $8.00 target price on shares of New Fortress Energy in a research note on Wednesday, March 12th. Citigroup lowered 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 research report on Wednesday, April 9th. Morgan Stanley set a $4.00 target price on shares of New Fortress Energy and gave the stock an "equal weight" rating in a report on Tuesday, May 27th. BTIG Research set a $8.00 target price on shares of New Fortress Energy and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.17.

New Fortress Energy Stock Down 8.4%

The firm has a market cap of $750.14 million, a price-to-earnings ratio of 3.01 and a beta of 1.21. 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 50 day moving average price of $4.52 and a 200-day moving average price of $9.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NFE. Allworth Financial LP raised its stake in shares of New Fortress Energy by 2,156.0% during the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company's stock worth $32,000 after purchasing an additional 1,962 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of New Fortress Energy during the fourth quarter worth $8,316,000. New York State Common Retirement Fund grew its stake in shares of New Fortress Energy by 14.4% during the fourth quarter. New York State Common Retirement Fund now owns 73,251 shares of the company's stock worth $1,108,000 after purchasing an additional 9,200 shares during the period. Delta Financial Group Inc. acquired a new position in New Fortress Energy in the fourth quarter valued at about $183,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of New Fortress Energy during the fourth quarter worth about $1,252,000. 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.