NFE Stock Summary and Trading Ideas (New Fortress Energy - Class A | NASDAQ:NFE)

New Fortress Energy is an integrated gas-to-power company. Its business model spans the entire production and delivery chain from natural gas procurement and liquefaction to logistics, shipping, terminals, and conversion or development of a natural gas-fired generation. It has invested in floating, liquefied natural gas vessels to both lower the cost of acquiring gas while securing a long-term supply for its terminals. Its segments include terminals and infrastructure, or T&I, and ships.

New Fortress Energy - Class A trades on the NASDAQ stock market under the symbol NFE.

As of April 25, 2024, NFE stock price declined to $27.35 with 224,595 million shares trading.

NFE has a beta of 0.71, meaning it tends to be less sensitive to market movements. NFE has a correlation of 0.05 to the broad based SPY ETF.

NFE has a market cap of $5.61 billion. This is considered a Mid Cap stock.

Last quarter New Fortress Energy - Class A reported $758 million in Revenue and $1.01 earnings per share. This beat revenue expectation by $101 million and exceeded earnings estimates by $.23.

In the last 3 years, NFE stock traded as high as $63.06 and as low as $19.17.

The top ETF exchange traded funds that NFE belongs to (by Net Assets): VTI, VB, VBK, VXF, IFRA.

NFE has underperformed the market in the last year with a price return of -9.2% while the SPY ETF gained +22.6%. NFE has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -17.1% and -6.8%, respectively, while the SPY returned +3.1% and -2.9%, respectively.

NFE support price is $27.09 and resistance is $28.11 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NFE stock will trade within this expected range on the day.