During the recent session, New Fortress Energy Inc. (NASDAQ:NFE)’s traded shares were 0.7 million, with the beta value of the company hitting 1.61. At the last check today, the stock’s price was $50.01, reflecting an intraday gain of 0.50% or $0.25. The 52-week high for the NFE share is $52.37, that puts it down -4.72 from that peak though still a striking 61.67% gain since the share price plummeted to a 52-week low of $19.17. The company’s market capitalization is $9.78B, and the average intraday trading volume over the past 10 days was 0.68 million shares, and the average trade volume was 1.08 million shares over the past three months.
New Fortress Energy Inc. (NFE) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 1.70. NFE has a Sell rating from 0 analyst(s) out of 8 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 6 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.5.
New Fortress Energy Inc. (NASDAQ:NFE) trade information
New Fortress Energy Inc. (NFE) registered a 0.50% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.50% in intraday trading to $50.01 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is 7.26%, and it has moved by 24.43% in 30 days. Based on these gigs, the overall price performance for the year is 62.03%. The short interest in New Fortress Energy Inc. (NASDAQ:NFE) is 4.56 million shares and it means that shorts have 4.8 day(s) to cover.
The consensus price target of analysts on Wall Street is $56.88, which implies an increase of 12.08% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $47.00 and $67.00 respectively. As a result, NFE is trading at a discount of -33.97% off the target high and 6.02% off the low.
New Fortress Energy Inc. (NFE) estimates and forecasts
Statistics show that New Fortress Energy Inc. has outperformed its competitors in share price, compared to the industry in which it operates. New Fortress Energy Inc. (NFE) shares have gone up 116.63% during the last six months, with a year-to-date growth rate more than the industry average at 269.44% against -1.20. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 1,766.70% this quarter and then jump 820.00% in the quarter after that. In the rating firms’ projections, revenue will increase 74.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $654.41 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $661.12 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $223.84 million and $366.44 million respectively. In this case, analysts expect current quarter sales to grow by 192.40% and then jump by 80.40% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 34.90%. While earnings are projected to return 128.20% in 2022.
New Fortress Energy Inc. is due to release its next quarterly earnings on August 04. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for New Fortress Energy Inc. is 0.40, with the dividend yield indicating at 0.80 percent, continuing the trend of increasing dividends in recent years.
New Fortress Energy Inc. (NASDAQ:NFE)’s Major holders
New Fortress Energy Inc. insiders own 54.74% of total outstanding shares while institutional holders control 45.44%, with the float percentage being 100.38%. Great Mountain Partners LLC is the largest shareholder of the company, while 241 institutions own stock in it. As of Mar 30, 2022, the company held over 32.46 million shares (or 15.64% of all shares), a total value of $1.6 billion in shares.
The next largest institutional holding, with 13.4 million shares, is of Fortress Investment Group LLC’s that is approximately 6.46% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $662.46 million.
Also, the Mutual Funds coming in first place with the largest holdings of New Fortress Energy Inc. (NFE) shares are New World Fund, Inc. and Smallcap World Fund. Data provided on Jun 29, 2022 indicates that New World Fund, Inc. owns about 5.23 million shares. This amounts to just over 2.52 percent of the company’s overall shares, with a $258.55 million market value. The same data shows that the other fund manager holds slightly less at 4.46 million, or about 2.15% of the stock, which is worth about $220.65 million.