New Fortress Energy Inc (NASDAQ:NFE) price on current trading day, rose 5.37% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $11.96.
A look at the stock’s price movement, the close in the last trading session was $11.35, moving within a range at $11.54 and $12.2995. The beta value (5-Year monthly) was 1.51 while the PE ratio in trailing twelve months stood at 13.24. Turning to its 52-week performance, $39.71 and $7.82 were the 52-week high and 52-week low respectively. Overall, NFE moved 34.23% over the past month.
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New Fortress Energy Inc’s market cap currently stands at around $3.01 billion, with investors looking forward to this quarter’s earnings report slated for in January. The company has a Forward Dividend ratio of 0.30, with its dividend yield at 2.51%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 597.85M for the company’s revenue for the quarter, with a low and high estimate of 542.65M and 642.9M respectively. The average forecast suggests down to a -21.17% 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 to grow to 2.27B, representing a -6.09% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that NFE is a Hold. 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.
3 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, 2 recommend NFE as a Buy and 0 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 22.10% and 28.23% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 71.32, while 7-day volatility ratio is 6.26% and 7.20% in the 30-day chart. Further, New Fortress Energy Inc (NFE) has a beta value of 1.58, and an average true range (ATR) of 0.68. Analysts have given the company’s stock an average 52-week price target of $18, forecast between a low of $7.6 and high of $40. Looking at the price targets, the low is 36.45% off current price level while to achieve the yearly target high, price needs to move -234.45%. Nonetheless, investors will most likely welcome a -50.5% jump to $18 which is the analysts’ median price.
If we refocus on New Fortress Energy Inc (NASDAQ:NFE), historical trading data shows that trading volumes averaged 5.3 over the past 10 days and 5.54 million over the past 3 months. The company’s latest data on shares outstanding shows there are 205.10 million shares.
The 37.89% of New Fortress Energy Inc’s shares are in the hands of company insiders while institutional holders own 48.09% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 34.69 million on 2024-11-15, giving us a short ratio of 6.58. The data shows that as of 2024-11-15 short interest in New Fortress Energy Inc (NFE) stood at 2780.9998000000005 of shares outstanding, with shares short rising to 29.71 million registered in 2024-10-15. Current price change has pushed the stock -68.30% 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.
