Morgan Stanley has recently reduced New Fortress Energy Inc (NFE) stock rating, as announced on October 3, 2024, according to Finviz. Earlier, on October 1, 2024, Deutsche Bank had reduced the stock from a Hold to Sell, setting a price target of $7.60 for NFE stock. Deutsche Bank also reduced Hold rating with a price target of $35. Additionally, CapitalOne initiated Equal Weight rating on December 19, 2023. BofA Securities analysts, in their report published on June 8, 2023, also reduced Neutral rating and set a price target of $31 for New Fortress Energy Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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New Fortress Energy Inc (NFE) Stock Trading Recap
On Tuesday, New Fortress Energy Inc (NFE) stock saw a modest uptick, ending the day at $8.91 which represents a slight increase of $0.61 or 7.35% from the prior close of $8.3. The stock opened at $8.31 and touched a low of $8.27 during the day, reaching a high of $9.15. The volume of shares traded was 9.33 million exceeding the average volume of 5.20 million.
NFE Stock Performance and Moving Averages
In recent trading, New Fortress Energy Inc (NFE) stock price has shown some volatility, fluctuating 4.33% over the last five trades and -5.11% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -65.89%, and it has plunged by -46.58% in the previous three months. Currently, NFE is trading at 0.70%, -9.71%, and -59.08% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, NFE, a Utilities sector stock, is trading -77.75% below its 52-week high but remains 13.94% above its 52-week low. The Average True Range (ATR) (14 days) of 0.65 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
New Fortress Energy Inc’s Profitability and Valuation Ratios
New Fortress Energy Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 32.80% and a profit margin of 10.13%, with a gross margin of -65.89%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, New Fortress Energy Inc’s market capitalization stands at $2.24 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 7.61, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 6.82. Additionally, the Price-to-Sales Ratio is 0.94, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 1.17, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 46.45% of New Fortress Energy Inc (NFE)’s shares, while financial institutions hold 49.38%.
