New Fortress Energy Inc. [NFE] stock Initiated by Jefferies analyst, price target now $65

New Fortress Energy Inc. [NASDAQ: NFE] price surged by 1.06 percent to reach at $0.58. The company report on November 2, 2022 that NFE Increases 2022 and 2023 Earnings Goals, Hosts FLNG Investor Day at Shipyard in Texas.


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New Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) announced today at its FLNG Investor Day in Texas that the Company is raising its full year 2022 Illustrative Adjusted EBITDA Goal(1) to ~$1.1 billion (from $1.0+ billion) and its full year 2023 Illustrative Adjusted EBITDA Goal to ~$2.5+ billion (from $1.5+ billion).

The increases in NFE’s illustrative goals are due to portfolio optimization and higher operating margins in our core business lines, as well as – most significantly – the expected on-schedule deployment of our first floating liquefaction unit (“FLNG 1”) in the first half of 2023.

A sum of 4366237 shares traded at recent session while its average daily volume was at 1.08M shares. New Fortress Energy Inc. shares reached a high of $57.45 and dropped to a low of $54.50 until finishing in the latest session at $55.08.

The one-year NFE stock forecast points to a potential upside of 13.64. The average equity rating for NFE stock is currently 1.90, trading closer to a bullish pattern in the stock market.

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 $63.78 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 1.90. 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.

Jefferies have made an estimate for New Fortress Energy Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 19, 2022. The new note on the price target was released on September 09, 2022, representing the official price target for New Fortress Energy Inc. stock. Previously, the target price had yet another raise to $56, while Citigroup analysts kept a Buy rating on NFE stock. On August 19, 2021, analysts decreased their price target for NFE shares from 50 to 34.

The Average True Range (ATR) for New Fortress Energy Inc. is set at 2.38, with the Price to Sales ratio for NFE stock in the period of the last 12 months amounting to 5.60. The Price to Book ratio for the last quarter was 6.13, with the Price to Cash per share for the same quarter was set at 0.67.

NFE Stock Performance Analysis:

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 -0.43. With this latest performance, NFE shares gained by 14.68% in over the last four-week period, additionally plugging by 24.14% over the last 6 months – not to mention a rise of 77.05% 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 64.35, with the RSI for the last a single of trading hit 70.86, and the three-weeks RSI is set at 59.97 for New Fortress Energy Inc. [NFE]. The present Moving Average for the last 50 days of trading for this stock 51.02, while it was recorded at 54.75 for the last single week of trading, and 42.10 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 +21.44 and a Gross Margin at +36.55. New Fortress Energy Inc.’s Net Margin is presently recorded at +7.34.

Return on Equity for this stock inclined to 9.00, with Return on Assets sitting at 2.21.

New Fortress Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.20.

New Fortress Energy Inc. [NFE] Insider Position Details

There are presently around $5,260 million, or 49.00% 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 32,459,846, which is approximately 0% of the company’s market cap and around 0.20% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 14,155,123 shares of the stock with an approximate value of $779.66 million in NFE stocks shares; and FORTRESS INVESTMENT GROUP LLC, currently with $738.03 million in NFE stock with ownership of nearly 0% of the company’s market capitalization.

Positions in New Fortress Energy Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 155 institutional holders increased their position in New Fortress Energy Inc. [NASDAQ:NFE] by around 14,662,396 shares. Additionally, 66 investors decreased positions by around 7,046,658 shares, while 20 investors held positions by with 73,796,445 shares. The mentioned changes placed institutional holdings at 95,505,499 shares, according to the latest SEC report filing. NFE stock had 78 new institutional investments in for a total of 1,701,598 shares, while 26 institutional investors sold positions of 2,821,094 shares during the same period.

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