New Fortress Energy (NASDAQ:NFE) Sets New 1-Year Low at $14.39

New Fortress Energy Inc. (NASDAQ:NFE)’s share price hit a new 52-week low on Friday . The stock traded as low as $14.39 and last traded at $14.63, with a volume of 1619347 shares trading hands. The stock had previously closed at $17.02.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus dropped their target price on New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Barclays cut their price objective on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of New Fortress Energy from $33.00 to $26.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

New Fortress Energy Price Performance

The stock’s 50-day moving average price is $21.32 and its 200-day moving average price is $26.91. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 3.74. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 6.65 and a beta of 1.49.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. The business had revenue of $690.30 million for the quarter, compared to analyst estimates of $602.41 million. New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Equities research analysts anticipate that New Fortress Energy Inc. will post 2.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. American National Bank bought a new stake in shares of New Fortress Energy in the 2nd quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of New Fortress Energy by 563.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock valued at $42,000 after buying an additional 1,178 shares during the period. ORG Partners LLC raised its position in shares of New Fortress Energy by 987.8% during the second quarter. ORG Partners LLC now owns 3,753 shares of the company’s stock worth $77,000 after purchasing an additional 3,408 shares during the period. Meeder Asset Management Inc. bought a new stake in New Fortress Energy in the 1st quarter valued at approximately $95,000. Finally, Kapitalo Investimentos Ltda bought a new stake in New Fortress Energy during the fourth quarter worth $119,000. 58.61% of the stock is currently owned by institutional investors.

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.