New Fortress Energy (NASDAQ:NFE) Sees Unusually-High Trading Volume – Here’s Why

Shares of New Fortress Energy LLC (NASDAQ:NFE) saw strong trading volume on Monday . 137,926 shares changed hands during trading, a decline of 13% from the previous session’s volume of 158,029 shares.The stock last traded at $13.6050 and had previously closed at $16.48.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of New Fortress Energy in a research note on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

New Fortress Energy Stock Performance

The business’s fifty day simple moving average is $15.57 and its 200-day simple moving average is $27.23. The company has a market capitalization of $72.92 million, a P/E ratio of -4.73 and a beta of 1.35. The company has a debt-to-equity ratio of 3.57, a quick ratio of 0.15 and a current ratio of 0.16.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($1.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($10.50) by $9.20. The firm had revenue of $312.50 million during the quarter, compared to analyst estimates of $511.60 million. New Fortress Energy had a negative return on equity of 795.34% and a negative net margin of 149.40%. As a group, equities analysts anticipate that New Fortress Energy LLC will post -59.5 earnings per share for the current fiscal year.

Institutional Trading of New Fortress Energy

A number of large investors have recently added to or reduced their stakes in NFE. Wealthfront Advisers LLC grew its holdings in shares of New Fortress Energy by 7.3% during the 1st quarter. Wealthfront Advisers LLC now owns 195,946 shares of the company’s stock worth $116,000 after purchasing an additional 13,343 shares during the period. Bank of New York Mellon Corp lifted its position in New Fortress Energy by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 556,407 shares of the company’s stock valued at $328,000 after buying an additional 16,991 shares during the last quarter. J. Derek Lewis & Associates Inc. acquired a new position in New Fortress Energy in the fourth quarter valued at about $29,000. Leonteq Securities AG purchased a new position in New Fortress Energy during the fourth quarter worth about $37,000. Finally, Fortitude Advisory Group L.L.C. acquired a new stake in shares of New Fortress Energy during the fourth quarter valued at about $57,000. Institutional investors own 58.61% of the company’s stock.

New Fortress Energy Company Profile

New Fortress Energy Inc (NASDAQ:NFE) is an energy infrastructure company that develops, owns and operates natural gas and liquefied natural gas (LNG) facilities. Its activities span the LNG value chain, including natural gas procurement, liquefaction, transportation, storage, regasification and delivery to customers.

The company provides LNG and natural gas through a network of terminals, pipelines, floating storage and regasification units, and related infrastructure. It also develops and operates gas-fired power generation facilities, supplying electricity and fuel to utilities, commercial and industrial customers, and other users seeking alternatives to more carbon-intensive energy sources.

Founded in 2014, New Fortress Energy has developed projects in the United States, the Caribbean and Latin America, including infrastructure serving markets such as Puerto Rico, Jamaica, Mexico and Brazil.