New Fortress Energy Inc. [NASDAQ: NFE] traded at a low on 02/28/23, posting a -14.84 loss after which it closed the day’ session at $32.99. The company report on February 28, 2023 that New Fortress Energy Announces Fourth Quarter and Full Year 2022 Results.
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New Fortress Energy Inc. (Nasdaq: NFE) (“NFE” or the “Company”) today reported its financial results for the fourth quarter and for the year ended December 31, 2022.
The results of the trading session contributed to over 8917352 shares changing hands. Over the past one week, the price volatility of New Fortress Energy Inc. stands at 6.22% while the volatility over the past one month is 4.46%.
The market cap for NFE stock reached $7.04 billion, with 209.63 million shares outstanding and 97.43 million shares in the current float. Compared to the average trading volume of 1.56M shares, NFE reached a trading volume of 8917352 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $60.00 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 1.70. 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.
BofA Securities have made an estimate for New Fortress Energy Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 01, 2023. The new note on the price target was released on January 31, 2023, representing the official price target for New Fortress Energy Inc. stock. Previously, the target price had yet another raise to $65, while Jefferies analysts kept a Buy rating on NFE stock.
The Average True Range (ATR) for New Fortress Energy Inc. is set at 1.93, with the Price to Sales ratio for NFE stock in the period of the last 12 months amounting to 2.85. The Price to Book ratio for the last quarter was 3.74, with the Price to Cash per share for the same quarter was set at 1.71.
How has NFE stock performed recently?
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 -10.30. With this latest performance, NFE shares dropped by -13.57% in over the last four-week period, additionally sinking by -45.05% over the last 6 months – not to mention a rise of 27.57% 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 32.84, with the RSI for the last a single of trading hit 26.91, and the three-weeks RSI is set at 36.36 for New Fortress Energy Inc. [NFE]. The present Moving Average for the last 50 days of trading for this stock 39.15, while it was recorded at 37.51 for the last single week of trading, and 46.11 for the last 200 days.
New Fortress Energy Inc. [NFE]: Deeper insight into the fundamentals
New Fortress Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 1.80.
Insider trade positions for New Fortress Energy Inc. [NFE]
There are presently around $3,293 million, or 48.20% 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 25,559,846, which is approximately -21.257% of the company’s market cap and around 0.20% of the total institutional ownership; FORTRESS INVESTMENT GROUP LLC, holding 13,399,317 shares of the stock with an approximate value of $442.04 million in NFE stocks shares; and CAPITAL WORLD INVESTORS, currently with $355.93 million in NFE stock with ownership of nearly -4.933% of the company’s market capitalization.
190 institutional holders increased their position in New Fortress Energy Inc. [NASDAQ:NFE] by around 17,188,452 shares. Additionally, 95 investors decreased positions by around 11,951,392 shares, while 28 investors held positions by with 70,664,036 shares. The mentioned changes placed institutional holdings at 99,803,880 shares, according to the latest SEC report filing. NFE stock had 77 new institutional investments in for a total of 4,722,388 shares, while 43 institutional investors sold positions of 2,333,633 shares during the same period.