New Fortress Energy Inc (NASDAQ: NFE) has seen a decline in its stock price by -1.32 in relation to its previous close of 27.98. However, the company has experienced a -8.49% decline in its stock price over the last five trading sessions. Business Wire reported 2024-04-15 that NEW YORK–(BUSINESS WIRE)–New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) plans to announce its financial results for the first quarter 2024 prior to 8:00 A.M. Eastern Time on Wednesday, May 8th, 2024. A copy of the press release and an earnings supplement will be posted to the Investors section of the Company’s website, www.newfortressenergy.com. In addition, management will host a conference call on Wednesday, May 8th, 2024 at 8:00 A.M. Eastern Time. The conference call may be accesse.
Is It Worth Investing in New Fortress Energy Inc (NASDAQ: NFE) Right Now?
New Fortress Energy Inc (NASDAQ: NFE) has a higher price-to-earnings ratio of 10.41x compared to its average ratio. NFE has 36-month beta value of 1.52. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for NFE is 105.35M, and currently, short sellers hold a 12.78% ratio of that float. The average trading volume of NFE on April 17, 2024 was 1.39M shares.
NFE’s Market Performance
The stock of New Fortress Energy Inc (NFE) has seen a -8.49% decrease in the past week, with a -12.01% drop in the past month, and a -21.92% fall in the past quarter. The volatility ratio for the week is 2.58%, and the volatility levels for the past 30 days are at 2.98% for NFE. The simple moving average for the past 20 days is -7.19% for NFE’s stock, with a -13.79% simple moving average for the past 200 days.
Analysts’ Opinion of NFE
Many brokerage firms have already submitted their reports for NFE stocks, with Deutsche Bank repeating the rating for NFE by listing it as a “Hold.” The predicted price for NFE in the upcoming period, according to Deutsche Bank is $35 based on the research report published on March 04, 2024 of the current year 2024.
BofA Securities gave a rating of “Neutral” to NFE, setting the target price at $31 in the report published on June 08th of the previous year.
NFE Trading at -11.75% from the 50-Day Moving Average
After a stumble in the market that brought NFE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -31.04% of loss for the given period.
Volatility was left at 2.98%, however, over the last 30 days, the volatility rate increased by 2.58%, as shares sank -8.30% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -12.76% lower at present.
During the last 5 trading sessions, NFE fell by -8.49%, which changed the moving average for the period of 200-days by +3.49% in comparison to the 20-day moving average, which settled at $29.63. In addition, New Fortress Energy Inc saw -26.82% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at NFE starting from Catterall Desmond Iain, who purchase 4,734 shares at the price of $26.54 back on May 26 ’23. After this action, Catterall Desmond Iain now owns 4,734 shares of New Fortress Energy Inc, valued at $125,640 using the latest closing price.
Jay Timothy W., the Director of New Fortress Energy Inc, purchase 2,000 shares at $27.85 during a trade that took place back on May 24 ’23, which means that Jay Timothy W. is holding 32,221 shares at $55,700 based on the most recent closing price.
Stock Fundamentals for NFE
Current profitability levels for the company are sitting at:
- 0.37 for the present operating margin
- 0.52 for the gross margin
The net margin for New Fortress Energy Inc stands at 0.23. The total capital return value is set at 0.1. Equity return is now at value 37.40, with 6.02 for asset returns.
Based on New Fortress Energy Inc (NFE), the company’s capital structure generated 0.81 points at debt to capital in total, while cash flow to debt ratio is standing at 0.12. The debt to equity ratio resting at 4.25. The interest coverage ratio of the stock is 2.42.
Currently, EBITDA for the company is 1.12 billion with net debt to EBITDA at 5.06. When we switch over and look at the enterprise to sales, we see a ratio of 5.27. The receivables turnover for the company is 7.05for trailing twelve months and the total asset turnover is 0.23. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.57.
Conclusion
To put it simply, New Fortress Energy Inc (NFE) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
