New Fortress Energy Inc. (NASDAQ:NFE)’s traded shares stood at 3.47 million during the last session, with the company’s beta value hitting 1.62. At the close of trading, the stock’s price was $27.35, to imply a decrease of -4.34% or -$1.24 in intraday trading. The NFE share’s 52-week high remains $63.06, putting it -130.57% down since that peak but still an impressive -1.35% since price per share fell to its 52-week low of $27.72. The company has a valuation of $5.94B, with an average of 1.84 million shares in intraday trading volume over the past 10 days and average of 1.70 million shares over the past 3 months.
Analysts have given a consensus recommendation of a Buy for New Fortress Energy Inc. (NFE), translating to a mean rating of 1.70. Of 10 analyst(s) looking at the stock, 0 analyst(s) give NFE a Sell rating. 0 of those analysts rate the stock as Overweight while 2 advise Hold as 8 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.58.
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New Fortress Energy Inc. (NASDAQ:NFE) trade information
After registering a -4.34% downside in the last session, New Fortress Energy Inc. (NFE) has traded red over the past five days. The stock hit a weekly high of 32.23 this Friday, 03/17/23, dropping -4.34% in its intraday price action. The 5-day price performance for the stock is -13.45%, and -31.61% over 30 days. With these gigs, the year-to-date price performance is -35.53%. Short interest in New Fortress Energy Inc. (NASDAQ:NFE) saw shorts transact 3.96 million shares and set a 2.15 days time to cover.
Analysts on Wall Street suggest a consensus price target of $53.60, implying an increase of 48.97% to the stock’s current value. The extremes give us $39.00 and $64.00 for target low and target high price respectively. As such, NFE has been trading -134.0% off suggested target high and -42.6% from its likely low.
New Fortress Energy Inc. (NFE) estimates and forecasts
Looking at statistics comparing New Fortress Energy Inc. share performance against respective industry, we note that the company has outperformed competitors. New Fortress Energy Inc. (NFE) shares are -49.24% down over the last 6 months, with its year-to-date growth rate higher than industry average at 441.94% against -12.20%. Revenue is forecast to shrink -19.40% this quarter before falling -30.10% for the next one. The rating firms project that company’s revenue will grow 93.20% compared to the previous financial year.
Revenue forecast for the current quarter as set by 4 analysts is $732.52 million. Meanwhile, for the quarter ending Mar 2023, a total of 3 analyst(s) estimate revenue growth to $769.03 million.Earnings reports from the last fiscal year show that sales brought in $648.63 million and $505.12 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 12.90% before jumping 52.20% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 47.40% for the past 5-year period. While 2023 is set for a 92.50% return in earnings, projections for the next 5 years are at 72.90% annually.
New Fortress Energy Inc. has its next earnings report out between May 02 and May 08. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. New Fortress Energy Inc. has a forward dividend ratio of 0.20, with the share yield ticking at 0.73% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
New Fortress Energy Inc. (NASDAQ:NFE)’s Major holders
New Fortress Energy Inc. insiders hold 53.40% of total outstanding shares, with institutional holders owning 45.18% of the shares at 96.95% float percentage. In total, 45.18% institutions holds shares in the company, led by Great Mountain Partners LLC. As of Sep 29, 2022, the company held over 32.46 million shares (or 15.55% of shares), all amounting to roughly $1.42 billion.
The next major institution holding the largest number of shares is Fortress Investment Group LLC with 13.4 million shares, or about 6.42% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $585.68 million.
We also have Smallcap World Fund and Growth Fund Of America Inc as the top two Mutual Funds with the largest holdings of the New Fortress Energy Inc. (NFE) shares. Going by data provided on Dec 30, 2022, Smallcap World Fund holds roughly 4.12 million shares. This is just over 1.97% of the total shares, with a market valuation of $174.61 million. Data from the same date shows that the other fund manager holds a little less at 3.42 million, or 1.64% of the shares, all valued at about 144.98 million.