New Fortress Energy (NASDAQ:NFE) Stock Price Down 4.1% Following Analyst Downgrade

New Fortress Energy Inc. (NASDAQ:NFE)’s stock price was down 4.1% during mid-day trading on Tuesday after Morgan Stanley lowered their price target on the stock from $13.00 to $4.00. Morgan Stanley currently has an equal weight rating on the stock. New Fortress Energy traded as low as $2.66 and last traded at $2.67. Approximately 1,412,276 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 5,888,577 shares. The stock had previously closed at $2.78.

Several other research firms have also recently weighed in on NFE. Stifel Nicolaus lowered their price target on New Fortress Energy from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. BTIG Research set a $8.00 price objective on New Fortress Energy and gave the company a “buy” rating in a research report on Thursday, May 15th. Citigroup dropped their target price on New Fortress Energy from $34.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a research report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, New Fortress Energy has a consensus rating of “Moderate Buy” and a consensus price target of $10.17.

Insider Buying and Selling at New Fortress Energy

In other New Fortress Energy news, CFO Christopher S. Guinta bought 5,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the purchase, the chief financial officer now directly owns 206,653 shares of the company’s stock, valued at approximately $1,771,016.21. The trade was a 2.48% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 29.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On New Fortress Energy

Large investors 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 fourth quarter valued at about $155,023,000. Capital World Investors grew its stake in shares of New Fortress Energy by 87.9% during the fourth quarter. Capital World Investors now owns 19,925,022 shares of the company’s stock valued at $301,266,000 after purchasing an additional 9,319,985 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in New Fortress Energy by 40.8% in the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock valued at $235,374,000 after buying an additional 4,509,177 shares during the period. Vanguard Group Inc. boosted its position in shares of New Fortress Energy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock worth $171,147,000 after purchasing an additional 2,728,191 shares in the last quarter. Finally, American Assets Investment Management LLC boosted its position in shares of New Fortress Energy by 888.8% during the first quarter. American Assets Investment Management LLC now owns 1,859,106 shares of the company’s stock worth $15,449,000 after purchasing an additional 1,671,094 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors.

New Fortress Energy Trading Up 0.4%

The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. The business’s fifty day moving average is $6.03 and its 200 day moving average is $10.09. The firm has a market capitalization of $763.82 million, a price-to-earnings ratio of 3.07 and a beta of 1.45.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.06 by $0.07. The business had revenue of $679.00 million during 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%. Equities analysts predict that New Fortress Energy Inc. will post 0.36 earnings per share for the current year.

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.