New Fortress Energy (NASDAQ:NFE) Shares Down 1.4% – Should You Sell?

New Fortress Energy LLC (NASDAQ:NFE) dropped 1.4% during mid-day trading on Wednesday . The company traded as low as $0.3230 and last traded at $0.3253. Approximately 2,167,476 shares changed hands during mid-day trading, a decline of 4% from the average session volume of 2,263,054 shares. The stock had previously closed at $0.33.

Analyst Ratings Changes

A number of research firms have recently commented on NFE. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of New Fortress Energy in a research note on Friday, July 17th. Wall Street Zen downgraded shares of New Fortress Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $4.00.

New Fortress Energy Trading Down 1.4%

The company has a current ratio of 0.13, a quick ratio of 0.11 and a debt-to-equity ratio of 3.57. The firm has a 50-day moving average of $0.44 and a 200 day moving average of $0.79. The company has a market cap of $92.92 million, a P/E ratio of -0.15 and a beta of 1.33.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results on Thursday, May 14th. The company reported ($1.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.21). The business had revenue of $226.95 million during the quarter, compared to the consensus estimate of $508.60 million. New Fortress Energy had a negative return on equity of 253.73% and a negative net margin of 164.16%. On average, analysts predict that New Fortress Energy LLC will post -1.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New Fortress Energy

Large investors have recently bought and sold shares of the stock. AQR Capital Management LLC acquired a new position in New Fortress Energy during the 1st quarter worth approximately $390,000. Goldman Sachs Group Inc. lifted its holdings in shares of New Fortress Energy by 133.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 865,826 shares of the company’s stock worth $7,195,000 after purchasing an additional 494,848 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in New Fortress Energy by 42.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 280,706 shares of the company’s stock valued at $2,333,000 after purchasing an additional 83,279 shares during the period. Legal & General Group Plc raised its holdings in New Fortress Energy by 24.2% during the second quarter. Legal & General Group Plc now owns 140,044 shares of the company’s stock worth $465,000 after buying an additional 27,289 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of New Fortress Energy by 131.1% in the second quarter. Rhumbline Advisers now owns 234,105 shares of the company’s stock valued at $777,000 after buying an additional 132,822 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

About New Fortress Energy

New Fortress Energy is an integrated global energy infrastructure company focused on the development, construction and operation of natural gas-to-power projects and liquefied natural gas (LNG) terminals. The company sources LNG and delivers it via a network of floating storage and regasification units (FSRUs), onshore regasification terminals, and small-scale LNG carriers. By providing reliable natural gas supply solutions, New Fortress Energy aims to displace higher-carbon fuels in power generation, industrial and marine sectors.

The company’s core activities include the design, development and operation of FSRUs and onshore regasification terminals that convert cryogenic LNG back to gas for delivery into domestic transmission networks.