New Fortress Energy (NASDAQ:NFE) Hits New 52-Week Low – Should You Sell?

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Morgan Stanley decreased their price target 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. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target on the stock in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, New Fortress Energy has a consensus rating of “Hold” and an average price target of $15.60.

New Fortress Energy Stock Up 8.8 %

The company has a market capitalization of $2.52 billion, a PE ratio of 10.18 and a beta of 1.58. The company’s fifty day moving average is $12.73 and its 200-day moving average is $11.41. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38.

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

Insider Buying and Selling at New Fortress Energy

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

Hedge Funds Weigh In On New Fortress Energy

Several hedge funds have recently modified their holdings of NFE. Allworth Financial LP grew its stake in New Fortress Energy by 2,156.0% during the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after acquiring an additional 1,962 shares in the last quarter. KBC Group NV boosted its holdings in shares of New Fortress Energy by 116.9% during the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after purchasing an additional 1,852 shares during the last quarter. US Bancorp DE grew its position in shares of New Fortress Energy by 344.6% during the third quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after purchasing an additional 2,767 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after purchasing an additional 2,370 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of New Fortress Energy in the fourth quarter worth about $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.