The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. New Fortress Energy Inc shares valued at $49,999,993 were purchased by EDENS WESLEY R on Oct 01 ’24. At $8.63 per share, EDENS WESLEY R acquired 5,793,742 shares. The insider’s holdings grew to 35,721,915 shares worth approximately $374.37 million following the completion of this transaction.
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As published in a research note from Morgan Stanley on October 03, 2024, New Fortress Energy Inc [NFE] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $15 from $35. Analysts at Deutsche Bank downgraded the stock from ‘”a Hold”‘ to ‘”a Sell”‘ outlook in a report released in early October. As of March 04, 2024, Deutsche Bank has decreased its “Buy” rating to a “Hold” for NFE. Earlier on December 19, 2023, CapitalOne initiated its rating. Their recommendation was “an Equal weight” for NFE stock.
Analyzing NFE Stock Performance
During the last five days, there has been a surge of approximately 14.16%. Over the course of the year, New Fortress Energy Inc shares have dropped approximately -72.22%. Shares of the company reached a 52-week high of $38.29 on 01/02/24 and a 52-week low of $7.82 on 11/01/24. A 50-day SMA is recorded $9.22, while a 200-day SMA reached $19.92. Nevertheless, trading volume fell to 7.91 million shares from 3.78 million shares the previous day.
Support And Resistance Levels for New Fortress Energy Inc (NFE)
According to the 24-hour chart, there is a support level at 10.13, which, if violated, would cause prices to drop to 9.78. In the upper region, resistance lies at 10.71. The next price resistance is at 10.94. RSI (Relative Strength Index) is 62.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.68, which suggests the price will decrease in the coming days. Percent R is at 5.05%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
