Is NextPlay Technologies Inc. (NXTP) A Good Investment?

NextPlay Technologies Inc. (NASDAQ:NXTP) finished Tuesday with an addition of $0.37 to close at $1.68, an upside of 28.24 percent. An average of 833,700 shares of common stock have been traded in the last five days. There was a gain of $0.3900 in the past week. The last 20 days have seen an average of 323,140 shares traded, while the 50-day average volume stands at 194,876.

NXTP stock has decreased by -9.19% in the last month. The company shares reached their 1-month lowest point of $1.2600 on 10/05/21. With the stock rallying to its 52-week high on 03/18/21, shares of the company touched a low of $1.26 and a high of $4.99 in 52 weeks. In spite of this, the price is down -66.33% from the 52-week high.

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Valuation Metrics

NextPlay Technologies Inc. (NXTP) has a trailing price-to-earnings (P/E) ratio of 29.20 for the broader industry and 36.66 for the sector. This means investors are optimistic about the stock’s future prospects. In the last five years, NextPlay Technologies Inc.’s PE ratio has ranged between 6.811 and 3.567. The stock’s beta is 2.64. Other valuation ratios to consider include the price-to-book (PB) ratio at 1.56.

The quick ratio of NextPlay Technologies Inc. for the three months ended May 30 was 1.20, and the current ratio was 1.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 1.17 for the quarter ending May 30. On the profitability front, the trailing 12-month gross margin 5-year average of 17.1%. NextPlay Technologies Inc.’s EBITDA margin for the year ending May 30 is -15437.65%. Its gross profit as reported stood at $5000.0 compared to revenue of $48000.0.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, NextPlay Technologies Inc.’s return on assets was -74.70%, compared to -125.5% over the last five years. For the broader industry, ROE averaged 3.34 over the past year.

Earnings Surprise

The analyst consensus anticipated NextPlay Technologies Inc.’s latest quarter earnings to come in at -$0.13 per share, but it turned out to be -$0.38, a -192.30% surprise. For the quarter, EBITDA amounted to -$3.28 million. Shareholders own equity worth $87.1 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at NextPlay Technologies Inc. (NXTP) price momentum. RSI 9-day as of the close on 05 October was 60.74%, suggesting the stock is Neutral, with historical volatility in this time frame at 154.18%.

As of today, NXTP’s price is $1.4080 +30.23% or $0.3900 from its 5-day moving average. NXTP is currently trading -11.58% lower than its 20-day SMA and -32.80% lower than its 100-day SMA. However, the stock’s current price level is -9.68% below the SMA50 and -43.43% below the SMA200.

The stochastic %K and %D were 25.21% and 16.34%, respectively, and the average true range (ATR) was 0.1748. With the 14-day stochastic at 58.82% and the average true range at 0.1688, the RSI (14) stands at 53.48%. The stock has reached 0.0711 on the 9-day MACD Oscillator while the 14-day reading was at -0.0129.

Analyst Ratings

H.C. Wainwright launched coverage on NextPlay Technologies Inc. (NASDAQ: NXTP) in its analyst report released on August 20, 2021. The firm assigned the stock a a Buy rating.The consensus rating for NextPlay Technologies Inc. (NXTP) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell NXTP, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.

What is NXTP’s price target for the next 12 months?

Analysts predict a range of price targets between $3.00 and $6.50, with a median target of $4.75. Taking a look at these predictions, the average price target given by analysts for NextPlay Technologies Inc. (NXTP) stock is $4.75.


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