As of Thursday close, New Fortress Energy Inc.’s (NASDAQ:NFE) stock was down -$0.73, moving down -2.39 percent to $29.80. The average number of shares traded per day over the past five days has been 1,819,260 shares. 1 time new highs have been achieved over the past 5 days, with a -$2.41 fall in that time frame. In the last twenty days, the average volume was 1,321,130, while in the previous 50 days, it was 1,291,148.
Since last month, NFE stock rose 0.13%. Shares of the company fell to $28.11 on 08/25/23, the lowest level in the past month. A 52-week high of $60.33 was reached on 02/03/23 after having rallying from a 52-week low of $25.06. Since the beginning of this year, NFE’s stock price has dropped by -29.75% or -$12.62, and marked a new high 5 times. However, the stock has declined by -50.61% since its 52-week high.
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NFE stock investors should be aware that New Fortress Energy Inc. (NFE) stock had its last reported insider trading activity 119 days ago on May 26. Catterall Desmond Iain, the Director of the company, purchased of 4,734 shares for $26.54 on May 26. It resulted in a $125,640 investment by the insider. Jay Timothy W. added 2,000 shares at an average price of $27.85 on May 24. The insider now owns 32,221 shares following the transaction. On May 24, Director Jay Timothy W. bought 250 shares at $28.00 apiece. The transaction was valued at $7,000.
Valuation Metrics
Right now, New Fortress Energy Inc. (NFE) has a P/E ratio of about 15.70. The stock’s beta is 1.54. Besides these, the trailing price-to-sales (P/S) ratio of 2.58, the price-to-book (PB) ratio of 4.34.
The latest dividend of $0.10 per share was paid out, remained unchanged from last year’s $0.10. On Tuesday February 28 2023, a $0.4470 dividend decrease was announced.
Financial Health
In the three months ended June 29, New Fortress Energy Inc.’s quick ratio stood at 0.30, while its current ratio was 0.30, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 3.62, and the total debt-to-equity ratio was 3.90. On the profitability front, the trailing twelve-month gross margin is 62.40% percent. In the year ended June 29, EBITDA margin amounted to 40.22%, whereas operating margins totaled 36.40%. Based on annual data, NFE earned $737.38 million in gross profit and brought in $2.37 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 14.50%. Return on equity (ROE) for the past 12 months was 27.10%.
In New Fortress Energy Inc.’s quarter-end financial report for June 29, it reported total debt of $5.06 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. NFE’s revenue fell -4.19% to $579.13 million during the quarter, while net income inched up to $561.35 million. While analysts expected New Fortress Energy Inc. to report $0.48 quarterly earnings, the actual figure was $0.58 per share, beating the consensus estimate by 20.80%. During the quarter, the company generated $233.31 million in EBITDA. The liabilities of New Fortress Energy Inc. were 7.58 billion at the end of its most recent quarter ended June 29, and its total debt was $5.91 billion. The value of shareholders’ equity is $205.03 million.
Technical Picture
This quick technical analysis looks at New Fortress Energy Inc.’s (NFE) price momentum. With a historical volatility rate of 24.65%, the RSI 9-day stood at 36.23% on 21 September.
With respect to its five-day moving average, the current New Fortress Energy Inc. price is down by -7.48% percent or -$2.41. At present, NFE shares trade -0.60% below its 20-day simple moving average and -1.62% percent below its 100-day simple moving average. However, the stock is currently trading approximately +7.43% above its SMA50 and -41.84% below its SMA200.
Stochastic coefficient K was 9.50% and Stochastic coefficient D was 22.93%, while ATR was 1.02. Given the Stochastic reading of 3.93% for the 14-day period, the RSI (14) reading has been calculated as 44.50%. As of today, the MACD Oscillator reading stands at -0.99, while the 14-day reading stands at -1.17.
Analyst Ratings
New Fortress Energy Inc. downgraded its rating on New Fortress Energy Inc. (NASDAQ: NFE) to a Neutral in a note to investors on June 08, 2023. The analysts firm previously had a Buy rating on the stock.New Fortress Energy Inc. (NFE) has been rated Overweight by analysts. According to 0 brokerage firms, NFE is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate New Fortress Energy Inc. stock as buy, with 8 recommending it as overweight.
With a median target price of $44.00, the current consensus forecast for the stock is $32.00 – $61.00. Based on these forecasts, analysts predict New Fortress Energy Inc. (NFE) will achieve an average price target of $46.40.
