New Fortress Energy Inc. [NFE] Investment Guide: What You Need to Know


New Fortress Energy Inc.’s filing revealed that its Director Catterall Desmond Iain acquired Company’s shares for reported $0.13 million on May 26. In the deal valued at $26.54 per share,4,734 shares were bought. As a result of this transaction, Catterall Desmond Iain now holds 4,734 shares worth roughly $ 0.15 million.

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Then, Jay Timothy W. bought 2,000 shares, generating $55,700 in total proceeds. Upon buying the shares at $27.85, the Director now owns 32,221 shares.

Before that, Jay Timothy W. bought 250 shares. New Fortress Energy Inc. shares valued at $7,000 were divested by the Director at a price of $28.00 per share. As a result of the transaction, Jay Timothy W. now holds 8,555 shares, worth roughly $0.27 million.

BofA Securities downgraded its New Fortress Energy Inc. [NFE] rating to a Neutral from a a Buy in a research note published on Friday, June 08, 2023; the price target was decreased to $31 from $59. PT values the company’s stock at a premium of -3.1 to its Friday closing price.

Price Performance Review of NFE

On Friday, New Fortress Energy Inc. [NASDAQ:NFE] saw its stock jump 2.96% to $31.96. On the same session, the stock had its day’s lowest price of $31.40, but rose to a high of $32.19. Over the last five days, the stock has gained 10.93%. New Fortress Energy Inc. shares have fallen nearly -24.66% since the year began. Nevertheless, the stocks have fallen -44.27% over the past one year. While a 52-week high of $60.97 was reached on 02/03/23, a 52-week low of $25.06 was recorded on 05/31/23. SMA at 50 days reached $28.34, while 200 days put it at $33.62. A total of 0.99 million shares were traded, compared to the trading of 1.03 million shares in the previous session.

Levels Of Support And Resistance For NFE Stock

The 24-hour chart illustrates a support level at 31.51, which if violated will result in even more drops to 31.06. On the upside, there is a resistance level at 32.30. A further resistance level may holdings at 32.64. The Relative Strength Index (RSI) on the 14-day chart is 67.74, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.65, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 5.01%. Stochastics %K at 94.40% indicates the stock is a selling.

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 Aug 14, 2023, growing by 1.06 million shares to a total of 9.37 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 8.31 million shares. There was a rise of 11.31%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 11.96% of the overall stock float, the days-to-cover ratio (short ratio) rose to 7.09.

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 12.47% of the outstanding NFE shares. Additionally, Capital Research & Management Co decreased -0.04% of its stake after which the total value it holdings stand at $307,841,888, while The Vanguard Group, Inc. added 1.10% of its stake to hold $169.05 million in the firm. Over the last quarter, William Blair Investment Manageme purchased 2,238,281 shares of New Fortress Energy Inc., while Encompass Capital Advisors LLC bought 66,175 shares. At present, Federated Global Investment Manag is holding 3,974,400 shares valued at $113.47 million. Fidelity Management & Research Co owned 3,397,068 shares of the company at the time of its most recent 13F filing, worth $96.99 million.

According to FactSet, New Fortress Energy Inc.’s share price will average $46.90 in the next year, based on opinions of analysts polled by the firm. This is up nearly 48.2 percent from its previous closing price of $31.04. Analysts expect New Fortress Energy Inc. stock to reach the higher price of $61.00, while the lowest price estimate is $32.00. However, 12 analysts have rated NFE stock as an Overweight in their predictions for 2023.


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