New Fortress Energy Shares Plunge 26.17% on SEC Delays Debt Crisis Looming $130M Payment

The share price dropped to a record low today, with an intraday decline of 8.62% so far this month.

New Fortress Energy’s (NFE) shares have plunged 26.17% over six consecutive trading days, extending a year-to-date loss of 92%. The selloff follows delays in filing its Q3 SEC 10-Q report, ongoing debt negotiations, and a looming $130 million interest payment due on November 17. The company’s $7.8 billion in long-term debt and weak liquidity metrics—current and quick ratios of 0.67 and 0.64—highlight existential risks. Operational challenges in Latin America, including its non-investment-grade credit rating, have forced premium LNG purchases and limited access to cost-effective financing, compounding financial strain.

Investor confidence has eroded amid repeated regulatory filings and uncertainty over restructuring efforts. NFE’s recent forbearance talks with creditors to delay the November 17 payment signal acute liquidity pressures, though outcomes remain unclear. While the company has deferred dividends and explored asset sales, its Altman Z-Score of -0.06 and Piotroski F-Score of 3 underscore insolvency risks. Market reaction to incremental updates, such as delayed SEC filings, reflects fragile sentiment. The stock’s 5.17% daily drop on November 14—its sixth consecutive decline—underscores the market’s skepticism about NFE’s ability to stabilize its balance sheet amid mounting debt and operational headwinds.