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

New Fortress Energy Inc. (NASDAQ:NFE)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $8.13 and last traded at $8.19, with a volume of 1412252 shares. The stock had previously closed at $8.41.

Wall Street Analysts Forecast Growth

Several research firms have commented on NFE. Deutsche Bank Aktiengesellschaft reissued 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 cut shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $35.00 to $15.00 in a research report on Thursday, October 3rd. BTIG Research cut their price target on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Barclays reduced their price target on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Finally, Stifel Nicolaus lowered their price objective on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.77.

New Fortress Energy Stock Performance

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 $1.65 billion, a PE ratio of 6.80 and a beta of 1.51. The firm’s 50-day simple moving average is $10.13 and its two-hundred day simple moving average is $18.09.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Friday, August 9th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate 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 company had revenue of $428.00 million for the quarter, compared to analyst estimates of $465.52 million. During the same quarter in the previous year, the firm posted $0.58 earnings per share. The company’s quarterly revenue was down 23.7% on a year-over-year basis. As a group, research analysts anticipate that New Fortress Energy Inc. will post 0.52 earnings per share for the current fiscal year.

New Fortress Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend was Friday, September 13th. New Fortress Energy’s payout ratio is 33.90%.

Insider Buying and Selling

In other New Fortress Energy news, CEO Wesley R. Edens acquired 5,793,742 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were acquired at an average cost of $8.63 per share, with a total value of $49,999,993.46. Following the acquisition, the chief executive officer now directly owns 35,721,915 shares of the company’s stock, valued at approximately $308,280,126.45. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 37.10% of the company’s stock.

Hedge Funds Weigh In On New Fortress Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. X Square Capital LLC increased its holdings in shares of New Fortress Energy by 0.6% during the 2nd quarter. X Square Capital LLC now owns 137,396 shares of the company’s stock valued at $3,020,000 after purchasing an additional 781 shares in the last quarter. Maryland State Retirement & Pension System raised its position in shares of New Fortress Energy by 1.5% in the first quarter. Maryland State Retirement & Pension System now owns 59,765 shares of the company’s stock worth $1,828,000 after acquiring an additional 888 shares during the period. Commonwealth Equity Services LLC raised its position in shares of New Fortress Energy by 4.8% in the second quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company’s stock worth $477,000 after acquiring an additional 999 shares during the period. Tidal Investments LLC boosted its stake in shares of New Fortress Energy by 10.9% during the 1st quarter. Tidal Investments LLC now owns 10,297 shares of the company’s stock worth $315,000 after acquiring an additional 1,009 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of New Fortress Energy by 4.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,784 shares of the company’s stock valued at $479,000 after acquiring an additional 1,024 shares during the period. 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.