New Fortress Energy Inc. (NASDAQ:NFE) saw a downside of -3.99% to close Tuesday at $27.18 after subtracting -$1.13 on the day. The 5-day average trading volume is 1,529,280 shares of the company’s common stock. It has gained $28.98 in the past week and touched a new high 2 times within the past 5 days. An average of 1,146,090 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,374,728.
NFE’s 1-month performance is -1.63% or -$0.22 on its low of $26.28 reached on 07/17/23. The company’s shares have touched a 52-week low of $25.06 and high of $63.06, with the stock’s rally to the 52-week high happening on 02/03/23. YTD, NFE has lost -35.93% or -$15.24 and has reached a new high 5 times. However, the current price is down -56.90% from the 52-week high price.
Insider Transactions
NFE stock investors last saw insider trading activity on May 26.Wilkinson Matthew (Director) most recently sold 4,000 shares at $42.28 per share on Dec 30. This transaction cost the insider $169,135. Director, Wilkinson Matthew, sold 6,800 shares at a price of $41.94 on Dec 29. Then, on Dec 19, 10% Owner Energy Transition Holdings LLC sold 6,900,000 shares at a price of $45.56 per share. This transaction amounted to $314,364,000.
Valuation Metrics
NFE stock has a beta of 1.56. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.27 while the price-to-book (PB) in the most recent quarter is 4.37.
New Fortress Energy Inc.’s quick ratio for the period ended March 30 was 0.80, with the current ratio over the same period at 0.80. As well, the company’s long term debt to equity for the quarter ending March 30 was 3.84, while the total debt to equity was 4.08.. In terms of profitability, the gross margin trailing 12 months is 60.80%. The trailing 12-month EBITDA margin is 40.22% while for the period ending March 30, New Fortress Energy Inc.’s operating margin was 33.70%. The firm’s gross profit as reported stood at $737.38 million against revenue of $2.37 billion.
Earnings Surprise
For the quarterly period ending March 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -58.62% to $150.21 million, while revenue of $64.13 million was 57.31% off the previous quarter. Analysts expected NFE to announce $0.82 per share in earnings in its latest quarter, but it posted $0.9, representing a 9.80% surprise. EBITDA for the quarter stood at more than $301.83 million. NFE stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 6.77 billion, with total debt at $5.68 billion. Shareholders hold equity totaling $205.03 million.
Let’s look briefly at New Fortress Energy Inc. (NFE) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 36.30% to suggest the stock is trending Neutral, with historical volatility in this time period at 28.46%.
The stock’s 5-day moving average is $27.93, reflecting a -4.80% or -$1.37 change from its current price. NFE is currently trading -1.74% above its 20-day SMA, -4.67% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +3.74% and SMA200 by-43.05%.
Stochastic %K and %D was 30.19% and 37.20% and the average true range (ATR) pointed at 0.89. The RSI (14) points at 41.91%, while the 14-day stochastic is at 19.38% with the period’s ATR at 0.90. The stock’s 9-day MACD Oscillator is pointing at -0.25 and -0.49 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for New Fortress Energy Inc. (NASDAQ: NFE), BofA Securities downgraded it to a Neutral rating. They previously had a Buy rating on the stock. Analysts offering their rating for NFE stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate NFE as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 9 have offered a “buy” rating.
What is NFE’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $32.00 and a high of $61.00, with their median price target at $48.00. Looking at these predictions, the average price target given by analysts is for New Fortress Energy Inc. (NFE) stock is $49.36.
