15 Worst 52-Week Low Stocks to Buy Now According to Short Sellers

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9. New Fortress Energy Inc. (NASDAQ:NFE)

52 Week Range: $9.39 $40.04

Current Share Price: $9.49

Short% of Shares Outstanding: 10.45%

Number of Hedge Fund Investors in Q2 2024: 20

New Fortress Energy Inc. (NASDAQ:NFE) is a utility company that operates as an integrated power energy infrastructure company that provides energy and development services. Its Terminals and Infrastructure segment engages in natural gas procurement, liquefaction, shipping, and logistics.

Investor sentiments on the stock have taken a significant hit, and it has been plunging to 52-week lows. New Fortress Energy Inc. (NASDAQ:NFE) missing its second-quarter earnings estimates amid delays in starting up a floating LNG export facility in Mexico has hurt its sentiments. In the second quarter, the company delivered a net loss of $88 million or 44 cents a share, which was wider than the expected net loss of 7 cents a share.

The fact that the company posted a 23.8% decline in revenues to $428.01 million from $690 million delivered in the first quarter has also sent jitters in the investment community. New Fortress Energy Inc. (NASDAQ:NFE) is currently rated as one of the worst 52-week low stocks to buy now on management’s warning that the late startup of the LNG facility will negatively impact third-quarter results.

With revenues and earnings expected to remain under pressure heading into year-end, New Fortress Energy Inc. (NASDAQ:NFE) could struggle to bounce back after the implosion to 52-week lows. While trading forward earnings multiple of 188, the stock still rewards investors with a 4.22% dividend yield, which should excite income-focused investors amid the revenue and earnings growth slowdown.

As of the close of Q2 2024, 20 hedge funds in Insider Monkey’s database owned stakes in New Fortress Energy Inc. (NASDAQ:NFE), compared with 18 in the previous quarter. The consolidated value of these investments is over $205.94 million. Michael Novogratz’s Fortress Investment Group is the most significant shareholder of the company, with stakes worth $294.52 million.

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