New Fortress Energy Inc (NASDAQ:NFE) price on Thursday, January 16, rose 6.77% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $15.92.
A look at the stock’s price movement, the close in the last trading session was $14.91, moving within a range at $14.717 and $16.05. The beta value (5-Year monthly) was 1.51 while the PE ratio in trailing twelve months stood at 17.62. Turning to its 52-week performance, $35.71 and $7.82 were the 52-week high and 52-week low respectively. Overall, NFE moved 24.37% over the past month.
New Fortress Energy Inc’s market cap currently stands at around $4.00 billion, with investors looking forward to this quarter’s earnings report slated for in February. The company has a Forward Dividend ratio of 0.20, with its dividend yield at 1.26%. 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 611.98M for the company’s revenue for the quarter, with a low and high estimate of 599.17M and 642.9M respectively. The average forecast suggests down to a -19.30% 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 2.3B, representing a -4.51% 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 50% Buy. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in Hold 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 11.29% and 33.03% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 67.48, while 7-day volatility ratio is 5.49% and 6.49% in the 30-day chart. Further, New Fortress Energy Inc (NFE) has a beta value of 1.48, and an average true range (ATR) of 0.88. Analysts have given the company’s stock an average 52-week price target of $15, forecast between a low of $7.6 and high of $21. Looking at the price targets, the low is 52.26% off current price level while to achieve the yearly target high, price needs to move -31.91%. Nonetheless, investors will most likely welcome a 5.78% jump to $15 which is the analysts’ median price.
If we refocus on New Fortress Energy Inc (NASDAQ:NFE), historical trading data shows that trading volumes averaged 4.6 over the past 10 days and 5.22 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 48.16% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 35.12 million on 2024-12-31, giving us a short ratio of 6.03. The data shows that as of 2024-12-31 short interest in New Fortress Energy Inc (NFE) stood at 2500.0 of shares outstanding, with shares short falling to 36.49 million registered in 2024-11-29. Current price change has pushed the stock 5.29% 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.
