New Fortress Energy (NASDAQ:NFE) Stock Price Down 8.2% – Time to Sell?

New Fortress Energy Inc. (NASDAQ:NFE) traded down 8.2% during trading on Monday . The company traded as low as $9.38 and last traded at $9.18. 2,515,568 shares changed hands during trading, a decline of 40% from the average session volume of 4,180,159 shares. The stock had previously closed at $10.00.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NFE. Deutsche Bank Aktiengesellschaft upgraded shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price on the stock in a research note on Wednesday, December 4th. Stifel Nicolaus boosted their price objective on New Fortress Energy from $16.00 to $17.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.40.

New Fortress Energy Price Performance

The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The company’s fifty day moving average price is $13.86 and its 200 day moving average price is $11.66. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 9.93 and a beta of 1.49.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. Equities research analysts expect that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On New Fortress Energy

Several large investors have recently added to or reduced their stakes in the stock. Creative Planning acquired a new stake in shares of New Fortress Energy in the 3rd quarter worth about $214,000. Pinnacle Associates Ltd. bought a new position in New Fortress Energy in the 3rd quarter worth about $890,000. US Bancorp DE increased its stake in shares of New Fortress Energy by 344.6% in 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 during the period. Crestwood Advisors Group LLC raised its holdings in shares of New Fortress Energy by 27.4% during the third quarter. Crestwood Advisors Group LLC now owns 108,031 shares of the company’s stock valued at $982,000 after buying an additional 23,225 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of New Fortress Energy during the third quarter worth approximately $480,000. 58.61% of the stock is owned by institutional investors and hedge funds.

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.