New Fortress Energy (NASDAQ:NFE) Trading Down 5.3% – Should You Sell?

New Fortress Energy Inc. (NASDAQ:NFE) shares traded down 5.3% during mid-day trading on Tuesday . The stock traded as low as $15.53 and last traded at $15.43. 1,965,218 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 4,442,840 shares. The stock had previously closed at $16.29.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Morgan Stanley lowered shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $35.00 to $15.00 in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus upped their price objective on New Fortress Energy from $16.00 to $17.00 and gave the company a “buy” rating in a research note 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.40.

New Fortress Energy Stock Performance

The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 17.49 and a beta of 1.50. The stock has a 50 day simple moving average of $12.86 and a 200 day simple moving average of $12.94. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06.

Institutional Investors Weigh In On New Fortress Energy

Hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp acquired a new stake in shares of New Fortress Energy in the 3rd quarter worth about $990,000. Vontobel Holding Ltd. acquired a new stake in shares of New Fortress Energy in the third quarter valued at approximately $511,000. GSG Advisors LLC bought a new stake in shares of New Fortress Energy during the fourth quarter valued at approximately $605,000. Pinnacle Associates Ltd. acquired a new position in shares of New Fortress Energy during the third quarter worth approximately $890,000. Finally, American Assets Investment Management LLC grew its holdings in New Fortress Energy by 101.6% in the 3rd quarter. American Assets Investment Management LLC now owns 114,065 shares of the company’s stock worth $1,037,000 after buying an additional 57,479 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors.

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.