NextDecade Corporation (NASDAQ:NEXT) price on Friday, March 17, fall -10.89% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $4.01.
A look at the stock’s price movement, the close in the last trading session was $4.50, moving within a range at $3.93 and $4.485. The beta value (5-Year monthly) was 1.11. Turning to its 52-week performance, $8.95 and $3.47 were the 52-week high and 52-week low respectively. Overall, NEXT moved -44.23% over the past month.
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NextDecade Corporation’s market cap currently stands at around $613.73 million, with investors looking forward to this quarter’s earnings report slated for Mar 27, 2023 – Mar 31, 2023. Analysts project the company’s earnings per share (EPS) to be -$0.13, which has seen fiscal year 2022 EPS growth forecast to increase to -$0.51 and about -$0.82 for fiscal year 2023. Per the data, EPS growth is expected to be -59.40% for 2023 and -60.80% for the next financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that NEXT is a 50% Buy. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 3 recommend NEXT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
NEXT’s current price about -37.62% and -34.88% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 21.90, while 7-day volatility ratio is 14.37% and 7.39% in the 30-day chart. Further, NextDecade Corporation (NEXT) has a beta value of 1.03, and an average true range (ATR) of 0.47. Analysts have given the company’s stock an average 52-week price target of $8.63, forecast between a low of $4.50 and high of $12.00. Looking at the price targets, the low is -12.22% off current price level while to achieve the yearly target high, price needs to move -199.25%. Nonetheless, investors will most likely welcome a -124.44% jump to $9.00 which is the analysts’ median price.
In the market, a comparison of NextDecade Corporation (NEXT) and its peers suggest the former has performed considerably weaker. Data shows NEXT’s intraday price has changed -10.89% in last session and 17.60% over the past year. Comparatively, NextDecade Corporation (NEXT) has moved -10.89% on the day and only 17.60% in the past 12 months. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -1.10% and -1.19% respectively in the last trading.
If we refocus on NextDecade Corporation (NASDAQ:NEXT), historical trading data shows that trading volumes averaged 0.98 million over the past 10 days and 619.86K over the past 3 months. The company’s latest data on shares outstanding shows there are 144.39 million shares.
The 1.50% of NextDecade Corporation’s shares are in the hands of company insiders while institutional holders own 83.30% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 5.36 million on Jan 12, 2023, giving us a short ratio of 8.33. The data shows that as of Jan 12, 2023 short interest in NextDecade Corporation (NEXT) stood at 3.71% of shares outstanding, with shares short rising to 4.46 million registered in Dec 14, 2022. Current price change has pushed the stock -18.83% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the NEXT stock continues to rise going into the next quarter.