New Fortress Energy (NASDAQ:NFE) Reaches New 12-Month Low – Here’s What Happened

Shares of New Fortress Energy Inc. (NASDAQ:NFE) reached a new 52-week low on Friday . The company traded as low as $7.58 and last traded at $8.51, with a volume of 18615788 shares. The stock had previously closed at $8.80.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NFE shares. Morgan Stanley dropped their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 4th. Stifel Nicolaus decreased their price objective on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price on the stock in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.60.

New Fortress Energy Stock Performance

The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 9.35 and a beta of 1.58. The stock’s 50 day moving average is $12.86 and its two-hundred day moving average is $11.45.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.06 by $0.07. The business had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. Analysts anticipate that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In other New Fortress Energy news, CFO Christopher S. Guinta purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the purchase, the chief financial officer now directly owns 206,653 shares in the company, valued at $1,771,016.21. This represents a 2.48 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Allworth Financial LP grew its stake in shares of New Fortress Energy by 2,156.0% during the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock worth $32,000 after purchasing an additional 1,962 shares during the period. KBC Group NV grew its position in New Fortress Energy by 116.9% during the third quarter. KBC Group NV now owns 3,436 shares of the company’s stock worth $31,000 after buying an additional 1,852 shares during the period. US Bancorp DE grew its position in New Fortress Energy by 344.6% during the third quarter. US Bancorp DE now owns 3,570 shares of the company’s stock worth $32,000 after buying an additional 2,767 shares during the period. GAMMA Investing LLC increased its holdings in New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $60,000 after buying an additional 2,370 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of New Fortress Energy during the 4th quarter valued at approximately $64,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

About New Fortress Energy

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.