New Fortress Energy Inc.’s recently made public that its Director Wilkinson Matthew unloaded Company’s shares for reported $0.17 million on Dec 30. In the deal valued at $42.28 per share,4,000 shares were sold. As a result of this transaction, Wilkinson Matthew now holds 46,907 shares worth roughly $ 1.7 million.
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Then, Wilkinson Matthew sold 6,800 shares, generating $285,214 in total proceeds. Upon selling the shares at $41.94, the Director now owns 50,907 shares.
Before that, Griffin C. William bought 10,000 shares. New Fortress Energy Inc. shares valued at $410,636 were divested by the Director at a price of $41.06 per share. As a result of the transaction, Griffin C. William now holds 344,805 shares, worth roughly $12.46 million.
BofA Securities initiated its New Fortress Energy Inc. [NFE] rating to a Buy in a research note published on Friday, February 01, 2023; the price target was $67. PT values the company’s stock at a premium of 46.04 to its Friday closing price. A number of analysts have revised their coverage, including BTIG Research’s analysts, who increased its forecast for the stock in late January from “a Neutral” to “a Buy”. Jefferies began covering NFE with “Buy” recommendation on October 19, 2022. BTIG Research revised its rating on September 09, 2022. It rated NFE as “a Neutral” which previously was an “a Buy”.
Price Performance Review of NFE
On Friday, New Fortress Energy Inc. [NASDAQ:NFE] saw its stock jump 5.55% to $36.15. On the same session, the stock had its day’s lowest price of $34.04, but rose to a high of $36.32. Over the last five days, the stock has lost -6.61%. New Fortress Energy Inc. shares have fallen nearly -14.78% since the year began. Nevertheless, the stocks have risen 6.23% over the past one year. While a 52-week high of $63.06 was reached on 02/03/23, a 52-week low of $27.17 was recorded on 02/28/23. SMA at 50 days reached $38.59, while 200 days put it at $45.99. A total of 2.3 million shares were traded, compared to the trading of 2.13 million shares in the previous session.
Levels Of Support And Resistance For NFE Stock
The 24-hour chart illustrates a support level at 34.69, which if violated will result in even more drops to 33.22. On the upside, there is a resistance level at 36.97. A further resistance level may holdings at 37.78. The Relative Strength Index (RSI) on the 14-day chart is 44.69, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.89, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 55.49%. Stochastics %K at 25.41% indicates the stock is a holding.
How much short interest is there in New Fortress Energy Inc.?
A steep rise in short interest was recorded in New Fortress Energy Inc. stocks on Jan 12, 2023, dropping by -1.2 million shares to a total of 3.96 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 5.16 million shares. There was a decline of -30.3%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 5.27% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.15.
New Fortress Energy Inc. [NFE] – Who Are The Largest Shareholders?
In filings from Great Mountain Partners LLC, it is revealed that the company now owns 25,559,846 shares, or roughly 12.24% of the outstanding NFE shares. In other words, the investor’s shares have fallen by -6,900,000 from its previous 13-F filing of 32459846.0. Additionally, Capital Research & Management Co decreased -4.93% of its stake after which the total value it holdings stand at $418,504,340, while The Vanguard Group, Inc. added 20.17% of its stake to hold $216.38 million in the firm. At present, Encompass Capital Advisors LLC is holding 3,106,540 shares valued at $120.5 million. Invesco Advisers, Inc. owned 2,935,985 shares of the company at the time of its most recent 13F filing, worth $113.89 million.
However, 10 analysts have rated NFE stock as a Buy in their predictions for 2023.