New Fortress Energy (NASDAQ:NFE) Shares Gap Down – Should You Sell?

New Fortress Energy Inc. (NASDAQ:NFE)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $9.26, but opened at $8.98. New Fortress Energy shares last traded at $8.96, with a volume of 1,315,038 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NFE shares. Stifel Nicolaus dropped their price objective on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target on the stock in a research note on Wednesday, December 4th. Finally, Morgan Stanley dropped their price objective on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, New Fortress Energy has an average rating of “Hold” and an average price target of $15.60.

New Fortress Energy Price Performance

The company’s fifty day moving average is $13.15 and its 200 day moving average is $11.49. 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 stock has a market cap of $2.53 billion, a PE ratio of 10.16 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE) last issued 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 company had revenue of $679.00 million during the quarter, compared to analyst estimates of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. As a group, sell-side analysts anticipate that New Fortress Energy Inc. will post 0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On New Fortress Energy

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in New Fortress Energy by 2.0% in the 4th quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company’s stock worth $730,000 after purchasing an additional 935 shares during the last quarter. US Bancorp DE grew its holdings in New Fortress Energy by 31.5% in the 4th quarter. US Bancorp DE now owns 4,696 shares of the company’s stock worth $71,000 after buying an additional 1,126 shares in the last quarter. KBC Group NV raised its stake in 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 acquiring an additional 1,852 shares in the last quarter. Allworth Financial LP raised its stake in New Fortress Energy by 2,156.0% during the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after acquiring an additional 1,962 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in New Fortress Energy by 148.5% during the 4th 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. Institutional investors own 58.61% of the company’s stock.

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.