New Fortress Energy Inc [NASDAQ: NFE] traded at a high on Wednesday, posting a 4.38 gain after which it closed the day’ session at $10.48.
The results of the trading session contributed to over 7909633 shares changing hands. Over the past one week, the price volatility of New Fortress Energy Inc stands at 5.98% while the volatility over the past one month is 7.32%.
The market cap for NFE stock reached $2.63 billion, with 205.00 million shares outstanding and 156.16 million shares in the current float. Compared to the average trading volume of 5.26M shares, NFE reached a trading volume of 7909633 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 $14.66 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.
Morgan Stanley have made an estimate for New Fortress Energy Inc shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on October 03, 2024. While these analysts kept the previous recommendation, Deutsche Bank raised their target price from $21 to $7.60. The new note on the price target was released on October 01, 2024, representing the official price target for New Fortress Energy Inc stock. Previously, the target price had yet another drop from $40 to $35, while Deutsche Bank kept a Hold rating on NFE stock.
The Average True Range (ATR) for New Fortress Energy Inc is set at 0.64, with the Price to Sales ratio for NFE stock in the period of the last 12 months amounting to 1.08. The Price to Book ratio for the last quarter was 1.37, with the Price to Cash per share for the same quarter was set at 0.94.
How has NFE stock performed recently?
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 14.16. With this latest performance, NFE shares gained by 22.72% in over the last four-week period, additionally sinking by -57.31% over the last 6 months – not to mention a drop of -71.68% 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 62.50, with the RSI for the last a single of trading hit 70.46, and the three-weeks RSI is set at 56.38 for New Fortress Energy Inc [NFE]. The present Moving Average for the last 50 days of trading for this stock 9.22, while it was recorded at 9.90 for the last single week of trading, and 19.92 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 0.35 and a Current Ratio set at 0.38.
Earnings analysis for New Fortress Energy Inc [NFE]
With the latest financial reports released by the company, New Fortress Energy Inc posted 1.01/share EPS, while the average EPS was predicted by analysts to be reported at 0.82/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.19. 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.
Insider trade positions for New Fortress Energy Inc [NFE]
There are presently around $53.61%, or 93.31%% 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 25.56 million shares, which is approximately 12.4644%. CAPITAL WORLD INVESTORS, holding 17.8 million shares of the stock with an approximate value of $$391.19 million in NFE stocks shares; and CAPITAL WORLD INVESTORS, currently with $$294.52 million in NFE stock with ownership which is approximately 6.5343%.
