In the latest trading session, 0.67 million shares of the New Fortress Energy Inc (NASDAQ:NFE) were traded, and its beta was 1.52. Most recently the company’s share price was $11.49, and it changed around -$0.28 or -2.34% from the last close, which brings the market valuation of the company to $2.36B. NFE currently trades at a discount to its 52-week high of $40.04, offering almost -248.48% off that amount. The share price’s 52-week low was $9.44, which indicates that the current value has risen by an impressive 17.84% since then. We note from New Fortress Energy Inc’s average daily trading volume that its 10-day average is 3.33 million shares, with the 3-month average coming to 3.56 million.
New Fortress Energy Inc stock received a consensus recommendation rating of Hold, based on a mean score of 1.60. If we narrow it down even further, the data shows that 0 out of 9 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 4 recommended NFE as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. New Fortress Energy Inc is expected to report earnings per share of 0.0 for the current quarter.
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New Fortress Energy Inc (NASDAQ:NFE) trade information
Instantly NFE has showed a red trend with a performance of -2.34% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 12.05 on recent trading dayincreased the stock’s daily price by 4.65%. The company’s shares are currently down -69.53% year-to-date, but still up 12.81% over the last five days. On the other hand, New Fortress Energy Inc (NASDAQ:NFE) is -14.85% down in the 30-day period. We can see from the shorts that 21.44 million shares have been sold at a short interest cover period of 4.75 day(s).
The consensus price target as assigned by Wall Street analysts is $30.5, which translates to bulls needing to increase their stock price by 62.33% from its current value. Analyst projections state that NFE is forecast to be at a low of $15 and a high of $44.
New Fortress Energy Inc (NFE) estimates and forecasts
New Fortress Energy Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -63.37 percent over the past six months and at a -77.34% annual growth rate that is well below the industry average of -8.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -100.00% in revenue this quarter, and will report a decrease of -71.70% in the next quarter. The year-over-year growth rate is expected to be -4.40%, down from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of 529.63M in revenue for the current quarter. 3 analysts expect New Fortress Energy Inc to make 670.49M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 514.56M and 758.36M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 2.90%. Forecasts for the next quarter put sales growth at -11.60%.
New Fortress Energy Inc earnings are expected to increase by -83.68% in 2024, but the outlook is positive 78.81% per year for the next five years.
NFE Dividends
New Fortress Energy Inc’s next quarterly earnings report is expected to be released on 2024-Aug-09. The annual dividend yield of the stock is 3.48 percent and its annual dividend per share was 0.40. It is important to note, however, that the 3.48% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
New Fortress Energy Inc (NASDAQ:NFE)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 54.30% of New Fortress Energy Inc shares, and 63.96% of them are in the hands of institutional investors. The stock currently has a share float of 139.96%. New Fortress Energy Inc stock is held by 319.0 institutions, with GREAT MOUNTAIN PARTNERS LLC being the largest institutional investor. By 2024-06-30, it held 12.4644% of the shares, which is about 25.56 million shares worth $561.81 million.
CAPITAL WORLD INVESTORS, with 8.679% or 17.8 million shares worth $391.19 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
