New Fortress Energy NFE shares soared 5.1% in the last trading session to close at $5.74. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 44.7% loss over the past four weeks.

Being an operator of natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets, the company is banking on mounting clean energy demand. The recent agreement to divest its assets and operations in Jamaica for $1.055 billion, which will help to lower its corporate debt and optimize its asset portfolio, is also aiding the company.

This company is expected to post quarterly loss of $0.21 per share in its upcoming report, which represents a year-over-year change of -131.3%. Revenues are expected to be $549.85 million, down 20.4% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For New Fortress Energy, the consensus EPS estimate for the quarter has been revised 200.4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on NFE going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

New Fortress Energy is a member of the Zacks Oil and Gas - Integrated - International industry. One other stock in the same industry, Eni SpA E, finished the last trading session 6% lower at $26.45. E has returned -4.5% over the past month.

For Eni SpA , the consensus EPS estimate for the upcoming report has changed -6.8% over the past month to $0.94. This represents a change of -9.6% from what the company reported a year ago. Eni SpA currently has a Zacks Rank of #3 (Hold).

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This article originally published on Zacks Investment Research (zacks.com).

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