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Is New Fortress Energy Inc. (NASDAQ: NFE) Still A Good Investment?

New Fortress Energy Inc. (NASDAQ:NFE) traded at $36.01 at last check on Tuesday, 01/24/23, made a downward move of -2.48% on its previous day’s price.

Looking at the stock we see that its previous close was $36.93 and the beta (5Y monthly) reads 1.67 with the day’s price range being $35.86 – $37.06. The company has a trailing 12-month PE ratio of 28.30. In terms of its 52-week price range, NFE has a high of $63.06 and a low of $19.41. The company’s stock has lost about -15.72% over that past 30 days.

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New Fortress Energy Inc. has a market cap of $7.34 billion and is expected to release its quarterly earnings report on Feb 27, 2023 – Mar 03, 2023. With its Forward Dividend at 6.00 and a yield of 16.25%, the company’s investors could be anxious for the NFE stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $0.76, with the EPS growth for the year raised at $1.81 for 2022 and $5.72 for next year. These figures represent 277.10% and 216.00% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $734.99 million, with a low of $603.2 million and a high of $865 million. The median projection represents growth squeezing down to 13.30% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $2.62 billion, or 97.70% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the NFE stock, short term indicators assign the stock an average of 100% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 50% Sell.

Based on estimates by 8 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 3 have rated the New Fortress Energy Inc. (NFE) stock as a Hold, while 5 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is -6.20% off its SMA20 and -17.90% from its 50-day simple moving average. The RSI (14) is pointing at 39.53 while the volatility over the past week is 5.09% and jumps to 4.83% over the past one month. The beta value is 1.64, while the average true range (ATR) is currently pointing at 2.04. The average price target for the stock over the next 12 months is $71.29, with the estimates having a low of $53.00 and a high of $95.00. These price ends are -47.18% and -163.82% off the today’s price level respectively, although investors could be excited at the prospect of a -94.39% if the NFE share price touches on the median price of $70.00.

Coming back to New Fortress Energy Inc. (NASDAQ:NFE), we note that the average 3-month trading volume was 1.65 million, while that of the preceding 10-day period stands at 1.81 million. Current shares outstanding are 209.63 million.

The insiders hold 0.20% of the company’s shares while institutions hold 48.20%. The data shows that short shares as of Dec 29, 2022, stood at 3.79 million at a short ratio of 2.28. This represents a 1.82% short interest in shares outstanding on Dec 29, 2022. Shares short fall in December from the previous month at 4.3 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -12.94% down in year-to-date price movement.

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