New Fortress Energy LLC (NFE) stock surged 6.77% in a 24-hour period on Friday, showing signs of recovery after a steep decline earlier in the week. The energy company's shares had previously plummeted following the release of its first-quarter earnings report on Wednesday, which revealed wider-than-expected losses and the completion of a significant asset sale.

On Wednesday, New Fortress Energy reported a Q1 loss of $197.4 million, or 73 cents per share, compared to a profit of $56.7 million, or 26 cents per share, in the same period last year. This result fell short of analysts' expectations, who had forecasted a loss of only 5 cents per share. The company's revenue also declined to $470.5 million from $690.3 million year-over-year, missing the projected $575.3 million.

Despite the disappointing financial results, New Fortress Energy announced the completion of the sale of its assets and operations in Jamaica to Excelerate Energy for $1.06 billion. CEO Wes Edens described this as a "significant milestone" in streamlining operations and reducing corporate debt through asset sales. The market's initial reaction to these developments was severely negative, with the stock price tumbling by over 60% on Thursday. However, Friday's rebound suggests that investors may be reassessing the company's prospects, potentially viewing the asset sale as a positive step towards financial restructuring and future growth.