New Fortress Energy Inc. (NASDAQ:NFE) price on Thursday, October 07, rose 25.51% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $33.26.
A look at the stock’s price movement, the close in the last trading session was $26.50, moving within a range at $30.01 and $33.8799. The beta value (5-Year monthly) was 1.61. Turning to its 52-week performance, $65.90 and $23.80 were the 52-week high and 52-week low respectively. Overall, NFE moved 15.05% over the past month.
New Fortress Energy Inc.’s market cap currently stands at around $7.28 billion, with investors looking forward to this quarter’s earnings report slated for Oct 27, 2021 – Nov 01, 2021. The company has a Forward Dividend ratio of 0.40, with its dividend yield at 1.20%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $0.24, which has seen fiscal year 2021 EPS growth forecast to increase to $0.44 and about $1.78 for fiscal year 2022. Per the data, EPS growth is expected to be 291.30% for 2021 and 304.50% for the next financial year.
Analysts have a consensus estimate of $364 million for the company’s revenue for the quarter, with a low and high estimate of $288.39 million and $492 million respectively. The average forecast suggests up to a 150.70% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2021 to grow to $1.22 billion, representing a 170.00% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that NFE is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
11 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 9 recommend NFE as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
NFE’s current price about 22.41% and 16.60% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 66.40, while 7-day volatility ratio is 9.34% and 6.04% in the 30-day chart. Further, New Fortress Energy Inc. (NFE) has a beta value of 0, and an average true range (ATR) of 2.02. Analysts have given the company’s stock an average 52-week price target of $52.90, forecast between a low of $31.00 and high of $69.00. Looking at the price targets, the low is 6.79% off current price level while to achieve the yearly target high, price needs to move -107.46%. Nonetheless, investors will most likely welcome a -74.38% jump to $58.00 which is the analysts’ median price.
In the market, a comparison of New Fortress Energy Inc. (NFE) and its peers suggest the former has performed considerably stronger. Data shows NFE’s intraday price has changed 25.51% in last session and -31.11% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 0.83% and 0.98% respectively in the last trading.
If we refocus on New Fortress Energy Inc. (NASDAQ:NFE), historical trading data shows that trading volumes averaged 578.85K over the past 3 months. The company’s latest data on shares outstanding shows there are 202.33 million shares.
The 0.60% of New Fortress Energy Inc.’s shares are in the hands of company insiders while institutional holders own 45.00% of the company’s shares. Current price change has pushed the stock -37.94% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the NFE stock continues to rise going into the next quarter.