In yesterday’s Wall Street session, New Fortress Energy Inc (NASDAQ:NFE) shares traded at $11.35, down -1.65% from the previous session.
NFE stock price is now 13.99% away from the 50-day moving average and -38.24% away from the 200-day moving average. The market capitalization of the company currently stands at $2.85B.
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With the price target maintained at $11, Deutsche Bank recently Upgraded its rating from Sell to Hold for New Fortress Energy Inc (NASDAQ: NFE). On October 03, 2024, Morgan Stanley Downgraded its previous ‘Overweight’ rating to ‘Equal-Weight’ on the stock reducing its target price from $35 to quote $15, while ‘Deutsche Bank’ rates the stock as ‘Sell’
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 $405.44 million. A total of 37.89% of the company’s stock is owned by insiders.
During the past 12 months, New Fortress Energy Inc has had a low of $7.82 and a high of $39.26. As of last week, the company has a debt-to-equity ratio of 5.19, a current ratio of 0.38, and a quick ratio of 0.35. The fifty day moving average price for NFE is $9.9104 and a two-hundred day moving average price translates $18.487925 for the stock.
The latest earnings results from New Fortress Energy Inc (NASDAQ: NFE) was released for 2024-09-30. The net profit margin was 7.74% and return on equity was 12.38% for NFE. The company reported revenue of $567.53 million for the quarter, compared to $514.46 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.32 percent.
