Latest news with #NewFortressEnergy
Reuters
6 days ago
- Business
- Reuters
New Fortress Energy discloses notice from Nasdaq
May 27 (Reuters) - U.S. LNG company New Fortress Energy (NFE.O), opens new tab on Tuesday said it received a notice from Nasdaq on non-compliance with the stock market's listing rule for not submitting its quarterly reports with the U.S. Securities and Exchange Commission.
Yahoo
6 days ago
- Business
- Yahoo
New Fortress Energy discloses notice from Nasdaq
(Reuters) -U.S. LNG company New Fortress Energy on Tuesday said it received a notice from Nasdaq on non-compliance with the stock market's listing rule for not submitting its quarterly reports with the U.S. Securities and Exchange Commission. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Egypt Today
7 days ago
- Business
- Egypt Today
Egypt Boosts Gas Supply Security with Arrival of New FSRU at Alexandria Port
CAIRO – 26 May 2025: Egypt has welcomed the arrival of Energos Power, a new floating storage and regasification unit (FSRU), at the southern berth of the Tahya Misr terminal in Alexandria Port. The vessel, owned by U.S.-based New Fortress Energy, sailed in from Germany and has a storage capacity of 174,000 cubic meters of liquefied natural gas (LNG). The Energos Power will play a key role in receiving imported LNG, converting it back to its gaseous form, and feeding it into Egypt's national gas grid. This step aligns with the Ministry of Petroleum and Mineral Resources' strategy to ensure stable electricity generation during the high-demand summer season. Minister Karim Badawi highlighted that this is the second FSRU currently in operation in Egypt. The vessel's deployment comes after high-level negotiations with the German government in both Cairo and Berlin during his official visit in March. It was leased specifically to support Egypt's energy infrastructure. The Ministry is also expanding its LNG regasification capabilities. The new unit joins an existing FSRU at the SUMED Port in Ain Sokhna, while the Egyptian Natural Gas Holding Company (EGAS) has secured agreements for two more FSRUs set to arrive soon—raising the total to four. These developments reflect a broader government initiative to enhance energy security, ensure the stability of the electricity network, and meet growing demand efficiently, particularly in the summer months.
Yahoo
22-05-2025
- Business
- Yahoo
Why New Fortress Energy Stock Sank Today
It was revealed late yesterday that New Fortress Energy will not be able to take part in a government auction for a large contract in Puerto Rico. New Fortress Energy recently reported Q1 earnings that missed targets, and announced it had sold assets that were a major source of revenue. 10 stocks we like better than New Fortress Energy › Shares of New Fortress Energy (NASDAQ: NFE) fell on Wednesday. The company's stock plummeted 14.5% as of market close. The leg down comes as the S&P 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 1.6% and 1.4%, respectively. The liquefied natural gas (LNG) company will not be able to take part in a key government auction in Puerto Rico. It was revealed late yesterday that New Fortress has been disqualified from a Puerto Rican government auction to secure temporary power generation, according to reports. New Fortress had bid on an 800-megawatt contract aimed at stabilizing the U.S. commonwealth's unreliable electric grid. The company has sent a letter to Puerto Rico Governor Jenniffer González-Colón requesting reconsideration, but the initial news was enough to send New Fortress Energy's stock lower, especially given recent developments for New Fortress. The news comes just after the embattled energy company announced its Q1 results, which failed to meet Wall Street's already weak targets. The company also announced it had sold its Jamaican LNG import terminal in Montego Bay in a $1 billion deal. While the deal nets a significant lump sum, it's a major hit to its future revenues. Today's news further hurt the company's credit rating, an ongoing issue for the heavily leveraged company. This stock is not one you want to own. There are too many issues facing New Fortress Energy, with no compelling case for a turnaround for the foreseeable future. Before you buy stock in New Fortress Energy, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and New Fortress Energy wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $642,582!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $829,879!* Now, it's worth noting Stock Advisor's total average return is 975% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why New Fortress Energy Stock Sank Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-05-2025
- Business
- Yahoo
New Fortress Energy (NFE) Plunged by Over 50% This Week. Here is Why.
The share price of New Fortress Energy Inc. (NASDAQ:NFE) fell by 56.6% between May 13 and May 20, 2025, putting it among the . Let's shed some light on the development. A cutaway view of a modern energy infrastructure and its power generation facilities. New Fortress Energy Inc. (NASDAQ:NFE) owns and operates natural gas and LNG infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. New Fortress Energy Inc. (NASDAQ:NFE) plunged to a multi-year low this week after a wide earnings miss, struggling with weak performance across all its segments. The company's loss of $0.73 per share was significantly worse than the loss of $0.05 per share that analysts had expected, while its revenue also declined by 31.84% YoY to $470.54 million and missed estimates by almost $144 million. New Fortress has been unable to buy LNG at attractive rates to fuel its power-generating operations in Latin America, hurting profits badly and forcing the company to sell off assets to try to remain afloat. The energy firm revealed that it had long-term debt worth $8.9 billion at the end of the first quarter. Moreover, in another setback for New Fortress Energy Inc. (NASDAQ:NFE), it was revealed this week that the company has been disqualified from an auction held by the Puerto Rican government to secure temporary power generation. While we acknowledge the potential of NFE to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than NFE but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks to Buy According to Hedge Funds Disclosure: None.
