During the recent session, New Fortress Energy Inc (NASDAQ:NFE)’s traded shares were 8.01 million, with the beta value of the company hitting 1.57. At the last check today, the stock’s price was $12.96, reflecting an intraday loss of -23.88% or -$4.06. The 52-week high for the NFE share is $40.04, that puts it down -208.95 from that peak though still a striking -20.37% loss since the share price plummeted to a 52-week low of $15.60. The company’s market capitalization is $2.66B, and the average intraday trading volume over the past 10 days was 2.87 million shares, and the average trade volume was 2.50 million shares over the past three months.
New Fortress Energy Inc (NFE) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.70. NFE has a Sell rating from 0 analyst(s) out of 3 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 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 0.07.
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New Fortress Energy Inc (NASDAQ:NFE) trade information
New Fortress Energy Inc (NFE) registered a -23.88% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -23.88% in intraday trading to $12.96, hitting a weekly high. The stock’s 5-day price performance is -24.41%, and it has moved by -37.05% in 30 days. Based on these gigs, the overall price performance for the year is -56.57%. The short interest in New Fortress Energy Inc (NASDAQ:NFE) is 18.14 million shares and it means that shorts have 7.58 day(s) to cover.
The consensus price target of analysts on Wall Street is $37.5, which implies an increase of 65.44% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $33 and $44 respectively. As a result, NFE is trading at a discount of -239.51% off the target high and -154.63% off the low.
New Fortress Energy Inc (NFE) estimates and forecasts
Statistics show that New Fortress Energy Inc has underperformed its competitors in share price, compared to the industry in which it operates. New Fortress Energy Inc (NFE) shares have gone down -59.50% during the last six months, with a year-to-date growth rate less than the industry average at -20.70% against -8.30. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -87.90% this quarter and then jump 40.00% in the quarter after that. In the rating firms’ projections, revenue will increase 11.60% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 509.23M as predicted by 4 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to 701.33M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 561.35M and 514.56M respectively. In this case, analysts expect current quarter sales to shrink by -9.30% and then jump by 36.30% in the coming quarter.
While earnings are projected to return -51.70% in 2024, the next five years will return 78.81% per annum.
NFE Dividends
New Fortress Energy Inc is due to release its next quarterly earnings 2024-Aug-09. 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 3.09 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 54.30% of total outstanding shares while institutional holders control 60.32%, with the float percentage being 131.99%. GREAT MOUNTAIN PARTNERS LLC is the largest shareholder of the company, while 329.0 institutions own stock in it. As of 2024-03-31, the company held over 25.56 million shares (or 12.4111% of all shares), a total value of $781.88 million in shares.
The next largest institutional holding, with 15.18 million shares, is of CAPITAL WORLD INVESTORS’s that is approximately 7.3721% of outstanding shares. At the market price on 2024-03-31, these shares were valued at $464.43 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 Growth Fund Of America Inc. Data provided on Jun 30, 2024 indicates that New World Fund, Inc. owns about 5.1 shares. This amounts to just over 2.49 percent of the company’s overall shares, with a $65.27 million market value. The same data shows that the other fund manager holds slightly less at 4.51, or about 2.20% of the stock, which is worth about $57.65 million.
