New Fortress Energy Inc. [NASDAQ: NFE] stock went on an upward path that rose over 27.38% on Tuesday, amounting to a one-week price increase of more than 26.01%. The company report on March 16, 2021 that Chart Industries Receives $47 million LNG Liquefaction Order from New Fortress Energy.
Chart Industries, Inc. (“Chart”) (NYSE: GTLS), a leading diversified global manufacturer of highly engineered equipment for the industrial gas and energy industries, has received Notice to Proceed on the engineering work for New Fortress Energy’s (“NFE”) (NASDAQ: NFE) mid-scale 1.4 MTPA LNG offshore liquefaction project.
The project is expected to be completed by the end of 2022. Chart’s content totals $47 million and includes our patented ISPMR® process technology, brazed aluminum heat exchangers, cold boxes, heavy hydrocarbon removal system and air-cooled heat exchangers, in addition to other pertinent equipment and engineering.
Over the last 12 months, NFE stock rose by 466.60%. The one-year New Fortress Energy Inc. stock forecast points to a potential upside of 11.58. The average equity rating for NFE stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $9.77 billion, with 170.07 million shares outstanding and 80.27 million shares in the current float. Compared to the average trading volume of 548.83K shares, NFE stock reached a trading volume of 2791206 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $61.20 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 2.00. 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.
Stifel have made an estimate for New Fortress Energy Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 16, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price from $26 to $40. The new note on the price target was released on October 30, 2020, representing the official price target for New Fortress Energy Inc. stock. Previously, the target price had yet another raise to $45, while Stifel analysts kept a Hold rating on NFE stock.
The Average True Range (ATR) for New Fortress Energy Inc. is set at 4.31, with the Price to Sales ratio for NFE stock in the period of the last 12 months amounting to 26.02. The Price to Book ratio for the last quarter was 102.09, with the Price to Cash per share for the same quarter was set at 0.62.
NFE Stock Performance Analysis:
New Fortress Energy Inc. [NFE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 26.01. With this latest performance, NFE shares dropped by -0.88% in over the last four-week period, additionally plugging by 66.49% over the last 6 months – not to mention a rise of 466.60% 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 61.46, with the RSI for the last a single of trading hit 67.77, and the three-weeks RSI is set at 57.96 for New Fortress Energy Inc. [NFE]. The present Moving Average for the last 50 days of trading for this stock 49.12, while it was recorded at 45.52 for the last single week of trading, and 36.77 for the last 200 days.
Insight into New Fortress Energy Inc. Fundamentals:
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.
NFE Stock EPS
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.
New Fortress Energy Inc. [NFE] Insider Position Details
There are presently around $3,957 million, or 44.30% 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 0% of the company’s market cap and around 57.55% of the total institutional ownership; FORTRESS INVESTMENT GROUP LLC, holding 13,399,317 shares of the stock with an approximate value of $725.04 million in NFE stocks shares; and VANGUARD GROUP INC, currently with $275.02 million in NFE stock with ownership of nearly 2.339% 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 65 institutional holders increased their position in New Fortress Energy Inc. [NASDAQ:NFE] by around 8,111,258 shares. Additionally, 40 investors decreased positions by around 2,532,060 shares, while 5 investors held positions by with 62,483,326 shares. The mentioned changes placed institutional holdings at 73,126,644 shares, according to the latest SEC report filing. NFE stock had 34 new institutional investments in for a total of 2,703,868 shares, while 13 institutional investors sold positions of 259,589 shares during the same period.