New Fortress Energy (NASDAQ:NFE) Trading Down 1.4% - Here's Why

Key Points

• New Fortress Energy shares fell 1.4% to about $0.3253, with trading volume slightly below its average. The stock remains well below its 50-day and 200-day moving averages.
• Analysts maintain a bearish outlook, with an average rating of “Reduce” and a $4.00 price target; recent ratings included “sell” and “strong sell.”
• The company reported a substantial quarterly loss, missing EPS expectations by $1.21 and generating revenue far below estimates. Its weak fundamentals include a negative net margin, negative return on equity, and high debt-to-equity ratio.

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) shares fell 1.4% during trading on Wednesday . The company traded as low as $0.3230 and last traded at $0.3253. 2,167,476 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 2,263,054 shares. The stock had previously closed at $0.33.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NFE shares. Weiss Ratings restated a "sell (e+)" rating on shares of New Fortress Energy in a research report on Friday, July 17th. Wall Street Zen downgraded New Fortress Energy from a "sell" rating to a "strong sell" rating in a research report on Saturday, April 18th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, New Fortress Energy presently has an average rating of "Reduce" and an average target price of $4.00.

New Fortress Energy Stock Performance

The company has a current ratio of 0.13, a quick ratio of 0.11 and a debt-to-equity ratio of 3.57. The company's 50-day simple moving average is $0.44 and its 200-day simple moving average is $0.79. The stock has a market capitalization of $92.92 million, a price-to-earnings ratio of -0.15 and a beta of 1.33.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($1.21). New Fortress Energy had a negative net margin of 164.16% and a negative return on equity of 253.73%. The business had revenue of $226.95 million for the quarter, compared to the consensus estimate of $508.60 million. On average, analysts expect that New Fortress Energy LLC will post -1.19 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NFE. Lazard Asset Management LLC grew its position in shares of New Fortress Energy by 1,765.5% in the 1st quarter. Lazard Asset Management LLC now owns 1,614,029 shares of the company's stock valued at $952,000 after buying an additional 1,527,509 shares during the last quarter. Wealthfront Advisers LLC raised its position in shares of New Fortress Energy by 7.3% during the first quarter. Wealthfront Advisers LLC now owns 195,946 shares of the company's stock worth $116,000 after acquiring an additional 13,343 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of New Fortress Energy by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 556,407 shares of the company's stock worth $328,000 after acquiring an additional 16,991 shares during the period. Lee Danner & Bass Inc. acquired a new position in shares of New Fortress Energy in the first quarter worth approximately $173,000. Finally, Leonteq Securities AG boosted its holdings in New Fortress Energy by 151.7% in the first quarter. Leonteq Securities AG now owns 82,447 shares of the company's stock valued at $49,000 after acquiring an additional 49,694 shares during the last quarter. 58.61% of the stock is owned by institutional investors and hedge funds.

About New Fortress Energy

New Fortress Energy is an integrated global energy infrastructure company focused on the development, construction and operation of natural gas-to-power projects and liquefied natural gas (LNG) terminals. The company sources LNG and delivers it via a network of floating storage and regasification units (FSRUs), onshore regasification terminals, and small-scale LNG carriers. By providing reliable natural gas supply solutions, New Fortress Energy aims to displace higher-carbon fuels in power generation, industrial and marine sectors.

The company's core activities include the design, development and operation of FSRUs and onshore regasification terminals that convert cryogenic LNG back to gas for delivery into domestic transmission networks.

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