What You Need To Know About New Fortress Energy Inc. (NFE)

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New Fortress Energy Inc. (NASDAQ:NFE) finished Wednesday with a subtraction of -$1.35 to close at $40.36, a downside of -3.24 percent. An average of 1,353,700 shares of common stock have been traded in the last five days. There was a fall of -$2.10 in the past week, and it reached a new high 28 times over the past 12 months. The last 20 days have seen an average of 1,732,335 shares traded, while the 50-day average volume stands at 1,569,606.

NFE stock has decreased by -16.85% in the last month. The company shares reached their 1-month lowest point of $39.94 on 12/28/22. With the stock rallying to its 52-week high on 08/25/22, shares of the company touched a low of $19.17 and a high of $63.06 in 52 weeks. It has reached a new high 26 times so far this year and achieved 67.19% or $16.22 in price. In spite of this, the price is down -36.00% from the 52-week high.


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Insider Transactions

NFE stock investors should be aware that New Fortress Energy Inc. (NFE) stock had its last reported insider trading activity 10 days ago on Dec 22. In this transaction, the insider spent $314,364,000. 10% Owner, NFE SMRS Holdings LLC, disposed of 300,000 shares at a price of $45.28 on Apr 19. The insider now owns more than $13,583,304 worth of shares. Prior to that, 10% Owner NFE SMRS Holdings LLC went on to Sale 19,943 shares at $41.54 each on Apr 07. An amount of $828,363 was transacted.

Valuation Metrics

New Fortress Energy Inc. (NFE) has a trailing price-to-earnings (P/E) ratio of 30.93. The stock’s beta is 1.67. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.34, the price-to-book (PB) ratio at 4.58.

The company has a payout ratio of 22.30%. The company’s most recent quarterly dividend payment was $3.00 a share, representing a up of 2900.0% from $0.10 last year. Its latest increase dividend $2.90 reported on Tuesday December 13 2022.

Financial Health

The quick ratio of New Fortress Energy Inc. for the three months ended September 29 was 1.70, and the current ratio was 1.80, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 2.39 and a total debt to equity ratio of 2.42 for the quarter ending September 29. Its gross profit as reported stood at $238.88 million compared to revenue of $1.32 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, New Fortress Energy Inc.’s return on assets was 3.90%.

Earnings Surprise

For the three-month period that ended September 29, New Fortress Energy Inc. had $4.4 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $61.85 million in the quarter, while revenues of -$169.77 million were grew 115.86%. The analyst consensus anticipated New Fortress Energy Inc.’s latest quarter earnings to come in at $0.8 per share, but it turned out to be $0.41, a -48.80% surprise. For the quarter, EBITDA amounted to $223.57 million. Shareholders own equity worth $208.77 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at New Fortress Energy Inc. (NFE) price momentum. RSI 9-day as of the close on 28 December was 31.82%, suggesting the stock is Neutral, with historical volatility in this time frame at 48.45%.

As of today, NFE’s price is $42.15 -4.95% or -$2.10 from its 5-day moving average. NFE is currently trading -15.58% lower than its 20-day SMA and -20.25% lower than its 100-day SMA. However, the stock’s current price level is -10.29% below the SMA50 and +41.17% above the SMA200.

The stochastic %K and %D were 11.13% and 15.02%, respectively, and the average true range (ATR) was 2.31. With the 14-day stochastic at 3.85% and the average true range at 2.42, the RSI (14) stands at 35.32%. The stock has reached -1.14 on the 9-day MACD Oscillator while the 14-day reading was at -2.42.

Analyst Ratings

Jefferies launched coverage on New Fortress Energy Inc. (NASDAQ: NFE) in its analyst report released on October 19, 2022. The firm assigned the stock a Buy rating. The consensus rating for New Fortress Energy Inc. (NFE) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell NFE, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 5 others rate it as a “buy”.

What is NFE’s price target for the next 12 months?

Analysts predict a range of price targets between $53.00 and $95.00, with a median target of $70.00. Taking a look at these predictions, the average price target given by analysts for New Fortress Energy Inc. (NFE) stock is $71.29.

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