New Fortress Energy Inc. [NASDAQ: NFE] loss -4.26% on the last trading session, reaching $54.13 price per share at the time. The company report on January 13, 2021 that New Fortress Energy to Acquire Power Purchase Agreements and Build LNG-to-Power Project at the Suape Port in Brazil.
New Fortress Energy Inc. (Nasdaq: NFE) (“NFE”) announced that it has signed a Memorandum of Understanding (“MOU”) with Petrobras Distribuidora S.A. (“BR”) and CCETC Brasil Holding Ltda. (“CCETC”) to acquire 288MW of 15-year power purchase agreements (“PPAs”) and intends to develop an LNG terminal and gas-fired power plant at the Suape Port in Brazil.
“The Suape Port provides an ideal location for NFE to bring clean and affordable energy to a rapidly growing region of Brazil,” said Wes Edens, Chairman and CEO of New Fortress Energy. “Our LNG terminal and gas-fired power plant will advance the clean energy transition in the state of Pernambuco and the wider Northeast region of Brazil. Coupled with our acquisition of Hygo, this provides us a significant portfolio of power and gas assets and a leadership position in Brazil’s large and growing market.”.
New Fortress Energy Inc. represents 170.08 million in outstanding shares, while the company has a total market value of $9.89 billion with the latest information. NFE stock price has been found in the range of $52.19 to $58.67.
If compared to the average trading volume of 502.65K shares, NFE reached a trading volume of 1382219 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about New Fortress Energy Inc. [NFE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NFE shares is $44.92 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NFE stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for New Fortress Energy Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 30, 2020. The new note on the price target was released on October 28, 2020, representing the official price target for New Fortress Energy Inc. stock. Previously, the target price had yet another raise to $25, while Scotiabank analysts kept a Sector Outperform rating on NFE stock.
The Average True Range (ATR) for New Fortress Energy Inc. is set at 4.21, with the Price to Sales ratio for NFE stock in the period of the last 12 months amounting to 26.33. The Price to Book ratio for the last quarter was 102.13, with the Price to Cash per share for the same quarter was set at 0.62.
Trading performance analysis for NFE stock
New Fortress Energy Inc. [NFE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.53. With this latest performance, NFE shares gained by 0.91% in over the last four-week period, additionally plugging by 191.49% over the last 6 months – not to mention a rise of 253.10% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NFE stock in for the last two-week period is set at 52.26, with the RSI for the last a single of trading hit 47.75, and the three-weeks RSI is set at 54.42 for New Fortress Energy Inc. [NFE]. The present Moving Average for the last 50 days of trading for this stock 47.06, while it was recorded at 56.69 for the last single week of trading, and 29.53 for the last 200 days.
New Fortress Energy Inc. [NFE]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and New Fortress Energy Inc. [NFE] shares currently have an operating margin of -96.23 and a Gross Margin at -15.37. New Fortress Energy Inc.’s Net Margin is presently recorded at -17.88.
Return on Total Capital for NFE is now -23.30, given the latest momentum, and Return on Invested Capital for the company is -6.95. Return on Equity for this stock declined to -19.15, with Return on Assets sitting at -3.71. When it comes to the capital structure of this company, New Fortress Energy Inc. [NFE] has a Total Debt to Total Equity ratio set at 730.94. Additionally, NFE Total Debt to Total Capital is recorded at 87.97, with Total Debt to Total Assets ending up at 55.16. Long-Term Debt to Equity for the company is recorded at 730.94, with the Long-Term Debt to Total Capital now at 87.97.
Reflecting on the efficiency of the workforce at the company, New Fortress Energy Inc. [NFE] managed to generate an average of -$168,204 per employee. Receivables Turnover for the company is 4.61 with a Total Asset Turnover recorded at a value of 0.21.New Fortress Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.30.
New Fortress Energy Inc. [NFE]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, New Fortress Energy Inc. posted -0.08/share EPS, while the average EPS was predicted by analysts to be reported at -0.21/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 61.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NFE.
An analysis of insider ownership at New Fortress Energy Inc. [NFE]
There are presently around $3,655 million, or 39.00% of NFE stock, in the hands of institutional investors. The top three institutional holders of NFE stocks are: GREAT MOUNTAIN PARTNERS LLC with ownership of 34,701,279, which is approximately -3.762% of the company’s market cap and around 0.90% of the total institutional ownership; FORTRESS INVESTMENT GROUP LLC, holding 13,399,317 shares of the stock with an approximate value of $725.3 million in NFE stocks shares; and VANGUARD GROUP INC, currently with $268.84 million in NFE stock with ownership of nearly 5526.484% of the company’s market capitalization.
Positions in New Fortress Energy Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 58 institutional holders increased their position in New Fortress Energy Inc. [NASDAQ:NFE] by around 8,677,388 shares. Additionally, 19 investors decreased positions by around 4,346,924 shares, while 6 investors held positions by with 54,500,425 shares. The mentioned changes placed institutional holdings at 67,524,737 shares, according to the latest SEC report filing. NFE stock had 44 new institutional investments in for a total of 2,259,263 shares, while 9 institutional investors sold positions of 1,203,197 shares during the same period.