New Fortress Energy Inc (NASDAQ:NFE) has a beta value of 1.50 and has seen 2.96 million shares traded in the last trading session. The company, currently valued at $2.35B, closed the last trade at $9.36 per share which meant it gained $0.06 on the day or 0.65% during that session. The NFE stock price is -327.78% off its 52-week high price of $40.04 and 12.39% above the 52-week low of $8.20. If we look at the company’s 10-day average daily trading volume, we find that it stood at 9.81 million shares traded. The 3-month trading volume is 4.85 million shares.
The consensus among analysts is that New Fortress Energy Inc (NFE) is Buy stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 3 have rated it as a Hold, with 2 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -0.02.
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New Fortress Energy Inc (NASDAQ:NFE) trade information
Sporting 0.65% in the green in last session, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the NFE stock price touched $9.36 or saw a rise of 10.43%. Year-to-date, New Fortress Energy Inc shares have moved -75.19%, while the 5-day performance has seen it change -7.23%. Over the past 30 days, the shares of New Fortress Energy Inc (NASDAQ:NFE) have changed -14.21%. Short interest in the company has seen 24.76 million shares shorted with days to cover at 6.43.
Wall Street analysts have a consensus price target for the stock at $21, which means that the shares’ value could jump 55.43% from current levels. The projected low price target is $7.6 while the price target rests at a high of $44.0. In that case, then, we find that the current price level is -370.09% off the targeted high while a plunge would see the stock lose 18.8% from current levels.
New Fortress Energy Inc (NFE) estimates and forecasts
Figures show that New Fortress Energy Inc shares have underperformed across the wider relevant industry. The company’s shares have lost -67.04% over the past 6 months, with this year growth rate of -79.69%, compared to -7.40% for the industry. Revenue growth from the last financial year stood is estimated to be -5.20%.
3 analysts offering their estimates for the company have set an average revenue estimate of 520.63M for the current quarter. 3 have an estimated revenue figure of 663.26M for the next ending quarter. Year-ago sales stood 514.56M and 758.36M respectively for this quarter and the next, and analysts expect sales will grow by 1.20% for the current quarter and -5.20% for the next.
NFE Dividends
New Fortress Energy Inc is expected to release its next earnings report in November this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.30 at a share yield of 3.21%. The company’s dividend yield has gone up over the past 12 months.
New Fortress Energy Inc (NASDAQ:NFE)’s Major holders
Insiders own 42.53% of the company shares, while shares held by institutions stand at 55.46% with a share float percentage of 96.50%. Investors are also buoyed by the number of investors in a company, with New Fortress Energy Inc having a total of 308.0 institutions that hold shares in the company. The top two institutional holders are GREAT MOUNTAIN PARTNERS LLC with over 25.56 million shares worth more than $561.81 million. As of 2024-06-30, GREAT MOUNTAIN PARTNERS LLC held 12.4644% of shares outstanding.
The other major institutional holder is CAPITAL WORLD INVESTORS, with the holding of over 17.8 million shares as of 2024-06-30. The firm’s total holdings are worth over $391.19 million and represent 8.679% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Smallcap World Fund and New World Fund, Inc. . As of Jun 30, 2024 , the former fund manager holds about 3.19% shares in the company for having 6.54 shares of worth $61.18 million while later fund manager owns 5.1 shares of worth $47.75 million as of Jul 31, 2024 , which makes it owner of about 2.49% of company’s outstanding stock.
