New Fortress Energy (NASDAQ:NFE) Sees Unusually-High Trading Volume – What’s Next?

New Fortress Energy Inc. (NASDAQ:NFE) saw unusually-high trading volume on Tuesday . Approximately 3,854,491 shares were traded during trading, an increase of 36% from the previous session’s volume of 2,836,907 shares.The stock last traded at $8.80 and had previously closed at $8.30.

Analyst Ratings Changes

A number of research firms have recently weighed in on NFE. Barclays lowered their price target on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating and set a $7.60 price target (down from $21.00) on shares of New Fortress Energy in a research report on Tuesday, October 1st. Morgan Stanley lowered shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $35.00 to $15.00 in a report on Thursday, October 3rd. Stifel Nicolaus dropped their target price on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, BTIG Research decreased their price target on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.77.

New Fortress Energy Trading Down 1.4 %

The company has a fifty day simple moving average of $9.81 and a two-hundred day simple moving average of $17.49. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 4.38. The company has a market cap of $1.94 billion, a PE ratio of 8.13 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last released its earnings results on Friday, August 9th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The firm had revenue of $428.00 million for the quarter, compared to analysts’ expectations of $465.52 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. The firm’s quarterly revenue was down 23.7% on a year-over-year basis. Analysts anticipate that New Fortress Energy Inc. will post 0.52 EPS for the current year.

New Fortress Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.10 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.40 annualized dividend and a yield of 4.23%. New Fortress Energy’s dividend payout ratio is presently 33.90%.

Insider Transactions at New Fortress Energy

In other news, CEO Wesley R. Edens purchased 5,793,742 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were purchased at an average price of $8.63 per share, for a total transaction of $49,999,993.46. Following the purchase, the chief executive officer now directly owns 35,721,915 shares of the company’s stock, valued at $308,280,126.45. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 37.10% of the company’s stock.

Institutional Trading of New Fortress Energy

Large investors have recently bought and sold shares of the business. Quest Partners LLC raised its holdings in shares of New Fortress Energy by 209.9% in the third quarter. Quest Partners LLC now owns 35,421 shares of the company’s stock valued at $322,000 after buying an additional 23,993 shares during the last quarter. KBC Group NV increased its position in New Fortress Energy by 116.9% in the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after acquiring an additional 1,852 shares during the period. American Assets Investment Management LLC raised its stake in New Fortress Energy by 101.6% during the 3rd quarter. American Assets Investment Management LLC now owns 114,065 shares of the company’s stock valued at $1,037,000 after acquiring an additional 57,479 shares during the last quarter. American Assets Capital Advisers LLC lifted its position in New Fortress Energy by 105.7% during the 3rd quarter. American Assets Capital Advisers LLC now owns 1,555,767 shares of the company’s stock worth $14,968,000 after acquiring an additional 799,280 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in shares of New Fortress Energy in the 3rd quarter valued at approximately $480,000. Institutional investors and hedge funds 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.