New Fortress Energy (NASDAQ:NFE) Sees Large Volume Increase - Here's Why

Key Points

• New Fortress Energy shares fell sharply to $13.605 from a prior close of $16.48, while trading volume reached 137,926 shares—13% below the previous session.
• Analyst sentiment remains negative: Weiss Ratings reaffirmed a “sell (e+)” rating, and the stock’s overall MarketBeat consensus is “Reduce,” split between one Hold and one Sell rating.
• The company reported a quarterly loss of $65.00 per share, far worse than the expected $10.50 loss, while revenue of $312.5 million missed estimates of $511.6 million; institutional investors own 58.61% of the stock.

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) shares saw unusually-high trading volume on Monday . 137,926 shares changed hands during trading, a decline of 13% from the previous session's volume of 158,029 shares.The stock last traded at $13.6050 and had previously closed at $16.48.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of New Fortress Energy in a report on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, New Fortress Energy presently has an average rating of "Reduce".

New Fortress Energy Stock Performance

The firm's 50-day moving average price is $15.79 and its two-hundred day moving average price is $27.84. The company has a quick ratio of 0.15, a current ratio of 0.16 and a debt-to-equity ratio of 3.57. The firm has a market capitalization of $3.96 billion, a PE ratio of -5.15 and a beta of 1.35.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($65.00) EPS for the quarter, missing the consensus estimate of ($10.50) by ($54.50). New Fortress Energy had a negative net margin of 149.40% and a negative return on equity of 795.34%. The firm had revenue of $312.50 million during the quarter, compared to analysts' expectations of $511.60 million. As a group, research analysts predict that New Fortress Energy LLC will post -1.19 earnings per share for the current fiscal year.

Institutional Trading of New Fortress Energy

A number of hedge funds have recently modified their holdings of the business. UBS Group AG raised its position in New Fortress Energy by 131.9% during the fourth quarter. UBS Group AG now owns 2,220,203 shares of the company's stock valued at $2,531,000 after buying an additional 1,262,862 shares during the period. Lazard Asset Management LLC lifted its stake in 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 worth $952,000 after acquiring an additional 1,527,509 shares in the last quarter. Deltroit Asset Management UK LLP acquired a new stake in New Fortress Energy during the 4th quarter worth about $2,052,000. Leonteq Securities AG acquired a new stake in New Fortress Energy during the 4th quarter worth about $37,000. Finally, Atom Investors LP purchased a new position in New Fortress Energy during the 4th quarter valued at about $65,000. Hedge funds and other institutional investors own 58.61% of the company's stock.

New Fortress Energy Company Profile

New Fortress Energy Inc NASDAQ: NFE is an energy infrastructure company that develops, owns and operates natural gas and liquefied natural gas (LNG) facilities. Its activities span the LNG value chain, including natural gas procurement, liquefaction, transportation, storage, regasification and delivery to customers.

The company provides LNG and natural gas through a network of terminals, pipelines, floating storage and regasification units, and related infrastructure. It also develops and operates gas-fired power generation facilities, supplying electricity and fuel to utilities, commercial and industrial customers, and other users seeking alternatives to more carbon-intensive energy sources.

Founded in 2014, New Fortress Energy has developed projects in the United States, the Caribbean and Latin America, including infrastructure serving markets such as Puerto Rico, Jamaica, Mexico and Brazil.

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