New Fortress Energy (NASDAQ:NFE) Reaches New 52-Week Low – What’s Next?

New Fortress Energy Inc. (NASDAQ:NFE) hit a new 52-week low on Wednesday . The stock traded as low as $7.20 and last traded at $7.58, with a volume of 13937708 shares changing hands. The stock had previously closed at $8.31.

Analyst Upgrades and Downgrades

NFE has been the topic of a number of recent research reports. Stifel Nicolaus lowered their target price on New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on New Fortress Energy in a research note on Wednesday, March 12th. Finally, Morgan Stanley decreased their target price on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, New Fortress Energy presently has a consensus rating of “Hold” and an average price target of $15.00.

New Fortress Energy Price Performance

The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The company has a market capitalization of $2.08 billion, a P/E ratio of 8.33 and a beta of 1.58. The company has a 50 day moving average price of $11.52 and a 200 day moving average price of $11.30.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings data on Monday, March 3rd. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.06 by $0.07. The firm had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. On average, equities analysts predict that New Fortress Energy Inc. will post 0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Christopher S. Guinta bought 5,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $8.57 per share, with a total value of $42,850.00. Following the completion of the acquisition, the chief financial officer now owns 206,653 shares of the company’s stock, valued at $1,771,016.21. This represents a 2.48 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 37.10% of the company’s stock.

Hedge Funds Weigh In On New Fortress Energy

Hedge funds have recently bought and sold shares of the business. Hood River Capital Management LLC acquired a new position in shares of New Fortress Energy during the 4th quarter worth approximately $155,023,000. Capital World Investors boosted 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 valued at $301,266,000 after buying an additional 9,319,985 shares during the period. William Blair Investment Management LLC grew its position in New Fortress Energy by 40.8% during the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock worth $235,374,000 after buying an additional 4,509,177 shares in the last quarter. Vanguard Group Inc. increased its stake in New Fortress Energy by 31.8% during the 4th quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock worth $171,147,000 after acquiring an additional 2,728,191 shares during the period. Finally, Primecap Management Co. CA raised its holdings 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 valued at $198,027,000 after acquiring an additional 1,564,893 shares in the last quarter. 58.61% of the stock is owned by 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.