New Fortress Energy (NASDAQ:NFE) Trading Down 5.2% – Time to Sell?

New Fortress Energy Inc. (NASDAQ:NFE)’s share price dropped 5.2% on Tuesday . The company traded as low as $14.21 and last traded at $14.11. Approximately 1,865,714 shares traded hands during trading, a decline of 50% from the average daily volume of 3,759,501 shares. The stock had previously closed at $14.88.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NFE. Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price on the stock in a report on Wednesday, December 4th. Stifel Nicolaus lifted their price objective on New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $15.40.

New Fortress Energy Trading Down 5.7 %

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 company has a 50-day moving average of $13.70 and a 200 day moving average of $12.60. The company has a market cap of $3.53 billion, a PE ratio of 15.42 and a beta of 1.49.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Primecap Management Co. CA raised its holdings in shares of New Fortress Energy by 43.7% in the third quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company’s stock worth $104,827,000 after buying an additional 3,505,975 shares during the period. American Assets Capital Advisers LLC grew its position in New Fortress Energy by 105.7% in the 3rd quarter. American Assets Capital Advisers LLC now owns 1,555,767 shares of the company’s stock valued at $14,968,000 after acquiring an additional 799,280 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in New Fortress Energy in the fourth quarter worth $8,316,000. Holocene Advisors LP increased its stake in New Fortress Energy by 107.2% in the third quarter. Holocene Advisors LP now owns 389,698 shares of the company’s stock worth $3,542,000 after purchasing an additional 201,649 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in shares of New Fortress Energy during the fourth quarter worth $2,268,000. 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.