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

New Fortress Energy LLC (NASDAQ:NFEGet Free Report)’s share price dropped 5.4% during mid-day trading on Tuesday . The company traded as low as $13.3950 and last traded at $13.1260. Approximately 95,418 shares traded hands during trading, a decline of 41% from the average daily volume of 161,582 shares. The stock had previously closed at $13.88.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of New Fortress Energy in a research report 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. Based on data from MarketBeat, New Fortress Energy presently has a consensus rating of “Reduce”.

Get Our Latest Report on New Fortress Energy

New Fortress Energy Price Performance

The stock has a fifty day moving average of $15.68 and a two-hundred day moving average of $27.53. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of -4.92 and a beta of 1.35. The company has a quick ratio of 0.15, a current ratio of 0.16 and a debt-to-equity ratio of 3.57.

New Fortress Energy (NASDAQ:NFEGet Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($65.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.50) by ($54.50). New Fortress Energy had a negative return on equity of 795.34% and a negative net margin of 149.40%.The business had revenue of $312.50 million during the quarter, compared to analysts’ expectations of $511.60 million. On average, equities research analysts anticipate that New Fortress Energy LLC will post -1.19 earnings per share for the current year.

Institutional Trading of New Fortress Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new stake in New Fortress Energy during the second quarter worth about $59,000. UBS Group AG grew 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 worth $2,531,000 after buying an additional 1,262,862 shares during the period. Lazard Asset Management LLC increased its holdings in New Fortress Energy by 1,765.5% in the first 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 in the last quarter. Deltroit Asset Management UK LLP purchased a new position in New Fortress Energy in the fourth quarter valued at about $2,052,000. Finally, Leonteq Securities AG acquired a new stake in shares of New Fortress Energy during the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Company Profile

(Get Free Report)

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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