New Fortress Energy (NASDAQ:NFE) Sets New 1-Year Low – Should You Sell?

Shares of New Fortress Energy Inc. (NASDAQ:NFE) hit a new 52-week low on Tuesday . The company traded as low as $2.24 and last traded at $2.22, with a volume of 11990814 shares trading hands. The stock had previously closed at $2.63.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. 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. Citigroup cut their price objective on shares of New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. BTIG Research set a $8.00 price target on New Fortress Energy and gave the company a “buy” rating in a research note on Thursday, May 15th. Stifel Nicolaus decreased their target price on New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, New Fortress Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.17.

New Fortress Energy Price Performance

The stock has a market capitalization of $590.25 million, a price-to-earnings ratio of 2.40 and a beta of 1.21. The company has a 50 day moving average of $4.47 and a 200 day moving average of $9.43. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06.

Institutional Investors Weigh In On New Fortress Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its stake in shares of New Fortress Energy by 552.2% in 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. lifted its holdings in New Fortress Energy by 32.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,470,832 shares of the company’s stock worth $22,239,000 after buying an additional 359,421 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of 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 shares of New Fortress Energy in the 4th quarter worth approximately $1,046,000. Finally, Brandywine Global Investment Management LLC bought a new stake in shares of New Fortress Energy in the 4th 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.