New Fortress Energy (NASDAQ:NFE) Trading Down 5.4% - Should You Sell?

Key Points

• New Fortress Energy shares fell 5.4% to about $13.13 in midday trading, with volume 41% below the average session volume.
• Analyst sentiment remains negative: Weiss Ratings reaffirmed a “sell (e+)” rating, while MarketBeat reports an average rating of “Reduce.”
• The company reported a steep quarterly loss of $65.00 per share versus the expected $10.50 loss, missed revenue estimates, and carries significant leverage with a debt-to-equity ratio of 3.57.

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) shares traded down 5.4% on Tuesday . The company traded as low as $13.3950 and last traded at $13.1260. 95,418 shares were traded during mid-day trading, a decline of 41% from the average session volume of 161,582 shares. The stock had previously closed at $13.88.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of New Fortress Energy in a research note on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Reduce".

New Fortress Energy Price Performance

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 $3.78 billion, a price-to-earnings ratio of -4.92 and a beta of 1.35. The company has a fifty day moving average price of $15.68 and a two-hundred day moving average price of $27.53.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last released 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 business had revenue of $312.50 million during the quarter, compared to analysts' expectations of $511.60 million. On average, equities research analysts expect that New Fortress Energy LLC will post -1.19 EPS for the current fiscal year.

Hedge Funds Weigh In On New Fortress Energy

Several institutional investors have recently added to or reduced their stakes in the stock. J. Derek Lewis & Associates Inc. purchased a new stake in shares of New Fortress Energy during the fourth quarter worth approximately $29,000. X Square Capital LLC purchased a new position in New Fortress Energy in the 2nd quarter valued at $33,000. Primecap Management Co. CA acquired a new position in New Fortress Energy in the 2nd quarter valued at $33,000. Apollon Wealth Management LLC acquired a new position in New Fortress Energy in the 1st quarter valued at $35,000. Finally, Leonteq Securities AG purchased a new position in New Fortress Energy during the 4th quarter worth $37,000. Institutional investors and hedge funds 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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