New Fortress Energy (NASDAQ:NFE) Shares Down 5.3% – What’s Next?

New Fortress Energy Inc. (NASDAQ:NFE) shares dropped 5.3% during mid-day trading on Tuesday . The stock traded as low as $15.53 and last traded at $15.43. Approximately 1,965,218 shares were traded during trading, a decline of 56% from the average daily volume of 4,442,840 shares. The stock had previously closed at $16.29.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NFE shares. Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price for the company in a research note on Wednesday, December 4th. Stifel Nicolaus upped their target price on shares of New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Finally, Morgan Stanley cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $35.00 to $15.00 in a report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, New Fortress Energy currently has an average rating of “Hold” and a consensus price target of $15.40.

New Fortress Energy Stock Up 2.1 %

The company has a debt-to-equity ratio of 4.06, a current ratio of 0.38 and a quick ratio of 0.35. The firm has a 50-day simple moving average of $12.86 and a two-hundred day simple moving average of $12.94. The company has a market cap of $4.00 billion, a PE ratio of 17.49 and a beta of 1.50.

Institutional Trading of New Fortress Energy

Several institutional investors have recently made changes to their positions in the stock. Stifel Financial Corp purchased a new position in shares of New Fortress Energy in the 3rd quarter valued at $990,000. Vontobel Holding Ltd. purchased a new position in New Fortress Energy in the third quarter valued at about $511,000. GSG Advisors LLC acquired a new position in shares of New Fortress Energy during the fourth quarter worth about $605,000. Pinnacle Associates Ltd. purchased a new stake in shares of New Fortress Energy in the third quarter worth about $890,000. Finally, American Assets Investment Management LLC grew its stake in shares of New Fortress Energy by 101.6% in the third quarter. American Assets Investment Management LLC now owns 114,065 shares of the company’s stock valued at $1,037,000 after buying an additional 57,479 shares in the last quarter. 58.61% of the stock is owned by hedge funds and other institutional investors.

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.