New Fortress Energy (NASDAQ:NFE) Sets New 1-Year Low – Should You Sell?

Shares of New Fortress Energy Inc. (NASDAQ:NFE) reached a new 52-week low during trading on Tuesday . The stock traded as low as $2.24 and last traded at $2.22, with a volume of 11990814 shares trading hands. The stock had previously closed at $2.63.

Analysts Set New Price Targets

NFE has been the topic of several research reports. Stifel Nicolaus decreased their price target on shares of New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Citigroup dropped their target price on shares of New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a report on Wednesday, March 12th. Morgan Stanley set a $4.00 target price on shares of New Fortress Energy and gave the company an “equal weight” rating in a research report on Tuesday, May 27th. Finally, BTIG Research set a $8.00 target price on shares of New Fortress Energy and gave the company a “buy” rating in a research report on Thursday, May 15th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.17.

New Fortress Energy Stock Performance

The firm has a market cap of $590.25 million, a PE ratio of 2.40 and a beta of 1.21. The company has a 50 day simple moving average of $4.47 and a 200-day simple moving average of $9.43. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35.

Hedge Funds Weigh In On New Fortress Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in NFE. Capital World Investors grew its stake in shares of New Fortress Energy by 87.9% in the fourth quarter. Capital World Investors now owns 19,925,022 shares of the company’s stock worth $301,266,000 after acquiring an additional 9,319,985 shares during the last quarter. William Blair Investment Management LLC raised its stake in New Fortress Energy by 40.8% during the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock valued at $235,374,000 after purchasing an additional 4,509,177 shares during the period. Vanguard Group Inc. increased its stake in New Fortress Energy by 22.6% in the 1st quarter. Vanguard Group Inc. now owns 13,879,490 shares of the company’s stock worth $115,339,000 after acquiring an additional 2,560,242 shares during the last quarter. Primecap Management Co. CA increased its stake in New Fortress Energy by 13.6% in the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company’s stock worth $198,027,000 after acquiring an additional 1,564,893 shares during the last quarter. Finally, Hood River Capital Management LLC bought a new position in shares of New Fortress Energy during the 4th quarter valued at approximately $155,023,000. 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.