New Fortress Energy (NASDAQ:NFE) Trading Down 5.2% – Here’s Why

New Fortress Energy Inc. (NASDAQ:NFE) fell 5.2% during mid-day trading on Tuesday . The stock traded as low as $14.21 and last traded at $14.11. 1,865,714 shares were traded during mid-day trading, a decline of 50% from the average session volume of 3,759,501 shares. The stock had previously closed at $14.88.

Analysts Set New Price Targets

A number of analysts have commented on the company. 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 report on Wednesday, December 4th. Stifel Nicolaus boosted their target price on New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, New Fortress Energy has an average rating of “Hold” and an average price target of $15.40.

New Fortress Energy Stock Performance

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NFE. The Manufacturers Life Insurance Company lifted its holdings in New Fortress Energy by 4.9% during the second quarter. The Manufacturers Life Insurance Company now owns 21,784 shares of the company’s stock valued at $479,000 after purchasing an additional 1,024 shares in the last quarter. KBC Group NV lifted its stake in shares of New Fortress Energy by 116.9% during the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after buying an additional 1,852 shares in the last quarter. Allworth Financial LP boosted its holdings in New Fortress Energy by 2,156.0% in the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock worth $32,000 after buying an additional 1,962 shares during the period. GAMMA Investing LLC boosted its stake in shares of New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after acquiring an additional 2,370 shares during the period. Finally, nVerses Capital LLC purchased a new position in New Fortress Energy in the 3rd quarter worth approximately $25,000. Hedge funds and other institutional investors 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.