New Fortress Energy Inc (NASDAQ:NFE)’s traded shares stood at 1.1 million during the latest session, with the company’s beta value hitting 1.55. At the last check today, the stock’s price was $13.05, to imply an increase of 1.91% or $0.24 in intraday trading. The NFE share’s 52-week high remains $40.04, putting it -206.82% down since that peak but still an impressive 3.91% since price per share fell to its 52-week low of $12.54. The company has a valuation of $2.68B, with an average of 6.37 million shares in intraday trading volume over the past 10 days and average of 3.22 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for New Fortress Energy Inc (NFE), translating to a mean rating of 1.60. Of 3 analyst(s) looking at the stock, 0 analyst(s) give NFE a Sell rating. 0 of those analysts rate the stock as Overweight while 1 advise Hold as 2 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 -0.02.
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New Fortress Energy Inc (NASDAQ:NFE) trade information
After registering a 1.91% upside in the latest session, New Fortress Energy Inc (NFE) has traded red over the past five days. The 5-day price performance for the stock is 0.03%, and -35.82% over 30 days. With these gigs, the year-to-date price performance is -65.40%. Short interest in New Fortress Energy Inc (NASDAQ:NFE) saw shorts transact 19.89 million shares and set a 7.05 days time to cover.
The extremes give us $33 and $44 for target low and target high price respectively. As such, NFE has been trading -237.16% off suggested target high and -152.87% 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 underperformed competitors. New Fortress Energy Inc (NFE) shares are -58.99% down over the last 6 months, with its year-to-date growth rate lower than industry average at -80.47% against -5.40%. Revenue is forecast to shrink -106.70% this quarter before falling -72.60% for the next one. The rating firms project that company’s revenue will shrink -3.00% compared to the previous financial year.
Revenue forecast for the current quarter as set by 3 analysts is 541.46M. Meanwhile, for the current quarter, a total of 3 analyst(s) estimate revenue growth to 715.81M.Earnings reports from the last fiscal year show that sales brought in 514.56M and 758.36M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 5.20% before dropping -5.60% in the following quarter.
NFE Dividends
New Fortress Energy Inc has its next earnings report out on 2024-Nov-06. 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 0.40, with the share yield ticking at 3.06% to continue the rising pattern observed over the past year.
New Fortress Energy Inc (NASDAQ:NFE)’s Major holders
New Fortress Energy Inc insiders hold 54.30% of total outstanding shares, with institutional holders owning 63.90% of the shares at 139.82% float percentage. In total, 63.90% institutions holds shares in the company, led by GREAT MOUNTAIN PARTNERS LLC. As of 2024-06-30, the company held over 25.56 million shares (or 12.4644% of shares), all amounting to roughly $561.81 million.
The next major institution holding the largest number of shares is CAPITAL WORLD INVESTORS with 17.8 million shares, or about 8.679% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $391.19 million.
We also have New World Fund, Inc. 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 Jun 30, 2024, New World Fund, Inc. holds roughly 5.1 shares. This is just over 2.49% of the total shares, with a market valuation of $65.35 million. Data from the same date shows that the other fund manager holds a little less at 4.51, or 2.20% of the shares, all valued at about 57.72 million.
