The stock of New Fortress Energy Inc (NASDAQ:NFE) last traded at $9.16, down -5.08% from the previous session.
NFE stock price is now -19.87% away from the 50-day moving average and -61.50% away from the 200-day moving average. The market capitalization of the company currently stands at $2.30B.
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With the price target reduced from $35 to $15, Morgan Stanley Downgraded its rating from Overweight to Equal-Weight for New Fortress Energy Inc (NASDAQ: NFE). On October 01, 2024, Deutsche Bank Downgraded its previous ‘Hold’ rating to ‘Sell’ on the stock reducing its target price from $21 to quote $7.60, while ‘CapitalOne’ rates the stock as ‘Equal Weight’
In other news, EDENS WESLEY R, Chief Executive Officer bought 5,793,742 shares of the company’s stock on Oct 01 ’24. The stock was bought for $49,999,993 at an average price of $8.63. Upon completion of the transaction, the Chief Executive Officer now directly owns 35,721,915 shares in the company, valued at $327.21 million. A total of 46.43% of the company’s stock is owned by insiders.
During the past 12 months, New Fortress Energy Inc has had a low of $8.20 and a high of $40.04. As of last week, the company has a debt-to-equity ratio of 4.99, a current ratio of 0.72, and a quick ratio of 0.63. The fifty day moving average price for NFE is $11.4315 and a two-hundred day moving average price translates $23.795225 for the stock.
The latest earnings results from New Fortress Energy Inc (NASDAQ: NFE) was released for 2024-06-30. The net profit margin was 10.13% and return on equity was 15.90% for NFE. The company reported revenue of $428.01 million for the quarter, compared to $561.35 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -23.75 percent.
