During the recent session, New Fortress Energy Inc (NASDAQ:NFE)’s traded shares were 2.33 million, with the beta value of the company hitting 1.51. At the last check today, the stock’s price was $8.03, reflecting an intraday loss of -4.56% or -$0.38. The 52-week high for the NFE share is $40.04, that puts it down -398.63 from that peak though still a striking -2.12% loss since the share price plummeted to a 52-week low of $8.20. The company’s market capitalization is $2.02B, and the average intraday trading volume over the past 10 days was 3.9 million shares, and the average trade volume was 5.12 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 2.11. 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 0.0.
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New Fortress Energy Inc (NASDAQ:NFE) trade information
New Fortress Energy Inc (NFE) registered a -4.56% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -4.56% in intraday trading to $8.03, hitting a weekly high. The stock’s 5-day price performance is -7.10%, and it has moved by -11.11% in 30 days. Based on these gigs, the overall price performance for the year is -73.72%. The short interest in New Fortress Energy Inc (NASDAQ:NFE) is 29.71 million shares and it means that shorts have 4.37 day(s) to cover.
The consensus price target of analysts on Wall Street is $21, which implies an increase of 61.76% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $7.6 and $44 respectively. As a result, NFE is trading at a discount of -447.95% off the target high and 5.35% 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 -69.89% during the last six months, with a year-to-date growth rate less than the industry average at -79.69% against -7.30. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -100.00% this quarter and then drop -78.30% in the quarter after that. In the rating firms’ projections, revenue will decrease -5.00% 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 526.67M as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to 659.56M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 514.56M and 758.36M respectively. In this case, analysts expect current quarter sales to grow by 2.40% and then drop by -13.00% in the coming quarter.
While earnings are projected to return -81.29% in 2024.
NFE Dividends
New Fortress Energy Inc is due to release its next quarterly earnings on 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 0.30, with the dividend yield indicating at 3.74 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 42.55% of total outstanding shares while institutional holders control 59.60%, with the float percentage being 103.73%. GREAT MOUNTAIN PARTNERS LLC is the largest shareholder of the company, while 305.0 institutions own stock in it. As of 2024-06-30, the company held over 25.56 million shares (or 12.4644% of all shares), a total value of $561.81 million in shares.
The next largest institutional holding, with 17.8 million shares, is of CAPITAL WORLD INVESTORS’s that is approximately 8.679% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $391.19 million.
