New Fortress Energy (NASDAQ:NFE) Shares Down 5.8% - Time to Sell?

Shares of New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) dropped 5.8% on Monday . The stock traded as low as $3.79 and last traded at $3.86. Approximately 608,254 shares traded hands during trading, a decline of 91% from the average daily volume of 6,987,649 shares. The stock had previously closed at $4.10.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NFE shares. Citigroup reduced their price target on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft set a $8.00 price target on shares of New Fortress Energy in a report on Wednesday, March 12th. BTIG Research downgraded shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a research report on Thursday, June 26th. Morgan Stanley set a $4.00 price objective on shares of New Fortress Energy and gave the company an "equal weight" rating in a report on Tuesday, May 27th. Finally, New Street Research set a $8.50 target price on New Fortress Energy in a research report on Monday, June 30th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $9.75.

New Fortress Energy Trading Down 12.7%

The company has a debt-to-equity ratio of 4.77, a quick ratio of 0.95 and a current ratio of 1.00. The stock has a market cap of $981.64 million, a price-to-earnings ratio of -1.59 and a beta of 1.30. The company's 50 day simple moving average is $3.63 and its two-hundred day simple moving average is $8.47.

Institutional Investors Weigh In On New Fortress Energy

Several institutional investors have recently made changes to their positions in NFE. Cetera Investment Advisers raised its holdings in New Fortress Energy by 552.2% during the fourth quarter. Cetera Investment Advisers now owns 130,650 shares of the company's stock valued at $1,975,000 after buying an additional 110,617 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of New Fortress Energy by 32.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,470,832 shares of the company's stock valued at $22,239,000 after acquiring an additional 359,421 shares in the last quarter. Two Sigma Investments LP lifted its holdings in New Fortress Energy by 186.9% in the 4th quarter. Two Sigma Investments LP now owns 170,852 shares of the company's stock worth $2,583,000 after purchasing an additional 111,300 shares during the last quarter. Mork Capital Management LLC bought a new stake in New Fortress Energy during the fourth quarter worth approximately $1,046,000. Finally, Brandywine Global Investment Management LLC bought a new stake in New Fortress Energy during the fourth quarter worth approximately $19,618,000. 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.