NextDecade Corporation (NASDAQ:NEXT) finished Friday with an addition of $0.15 to close at $5.62, an upside of 2.74 percent. An average of 959,520 shares of common stock have been traded in the last five days. There was a gain of $0.04 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 1,134,655 shares traded, while the 50-day average volume stands at 2,404,516.
NEXT stock has decreased by -8.62% in the last month. The company shares reached their 1-month lowest point of $5.17 on 08/08/23. With the stock rallying to its 52-week high on 07/07/23, shares of the company touched a low of $3.92 and a high of $8.95 in 52 weeks. It has reached a new high 24 times so far this year and achieved 13.77% or $0.68 in price. In spite of this, the price is down -37.19% from the 52-week high.
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Valuation Metrics
NextDecade Corporation (NEXT) stock’s beta is 1.08. Other valuation ratios to consider include the price-to-book (PB) ratio at 14.41.
Financial Health
Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending March 30. Its gross profit as reported stood at $53.48 million compared to revenue of $1.12 million.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$34.05 million in the quarter, while revenues of -$25.43 million were grew 49.52%. The analyst consensus anticipated NextDecade Corporation’s latest quarter earnings to come in at -$0.21 per share, but it turned out to be -$0.23, a -9.50% surprise. For the quarter, EBITDA amounted to -$26.81 million. Shareholders own equity worth $150.57 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at NextDecade Corporation (NEXT) price momentum. RSI 9-day as of the close on 11 August was 41.67%, suggesting the stock is Neutral, with historical volatility in this time frame at 30.89%.
As of today, NEXT’s price is $5.44 +0.72% or $0.04 from its 5-day moving average. NEXT is currently trading -7.41% lower than its 20-day SMA and +42.46% higher than its 100-day SMA. However, the stock’s current price level is +1.26% above the SMA50 and -9.79% below the SMA200.
The stochastic %K and %D were 33.75% and 22.38%, respectively, and the average true range (ATR) was 0.28. With the 14-day stochastic at 51.72% and the average true range at 0.32, the RSI (14) stands at 39.04%. The stock has reached 0.03 on the 9-day MACD Oscillator while the 14-day reading was at -0.03.
Analyst Ratings
Stifel upgraded NextDecade Corporation (NASDAQ: NEXT) to a a Hold rating in its most recent analyst report. Previously, the stock was rated as a Sell. The consensus rating for NextDecade Corporation (NEXT) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell NEXT, while 3 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 NEXT’s price target for the next 12 months?
Analysts predict a range of price targets between $6.00 and $12.00, with a median target of $8.25. Taking a look at these predictions, the average price target given by analysts for NextDecade Corporation (NEXT) stock is $8.63.
