New Fortress Energy (NASDAQ:NFE) Sets New 52-Week Low at $14.39

New Fortress Energy Inc. (NASDAQ:NFE) reached a new 52-week low on Friday . The company traded as low as $14.39 and last traded at $14.63, with a volume of 1619347 shares trading hands. The stock had previously closed at $17.02.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft cut their price objective on New Fortress Energy from $33.00 to $26.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Finally, Barclays decreased their target price on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, New Fortress Energy currently has an average rating of “Moderate Buy” and an average target price of $36.67.

New Fortress Energy Price Performance

The stock’s fifty day moving average price is $21.32 and its 200-day moving average price is $26.91. The firm has a market cap of $2.91 billion, a PE ratio of 6.65 and a beta of 1.49. The company has a debt-to-equity ratio of 3.74, a current ratio of 0.66 and a quick ratio of 0.54.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. The company had revenue of $690.30 million during the quarter, compared to analysts’ expectations of $602.41 million. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. New Fortress Energy’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 EPS. As a group, equities analysts expect that New Fortress Energy Inc. will post 2.03 EPS for the current fiscal year.

Institutional Trading of New Fortress Energy

Hedge funds have recently made changes to their positions in the company. American National Bank acquired a new position in New Fortress Energy in the 2nd quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. lifted its holdings in New Fortress Energy by 563.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock worth $42,000 after buying an additional 1,178 shares in the last quarter. ORG Partners LLC boosted its position in New Fortress Energy by 987.8% in the 2nd quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock valued at $77,000 after buying an additional 3,408 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of New Fortress Energy in the first quarter worth $95,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of New Fortress Energy during the fourth quarter worth $119,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

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.