As of Friday close, NextDecade Corporation’s (NASDAQ:NEXT) stock was up $0.02, moving up 0.37 percent to $5.37. The average number of shares traded per day over the past five days has been 1,599,200 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.41 fall in that time frame. In the last twenty days, the average volume was 1,310,485, while in the previous 50 days, it was 1,340,250.
Since last month, NEXT stock retreated -15.30%. Shares of the company fell to $5.32 on 09/22/23, the lowest level in the past month. A 52-week high of $8.74 was reached on 07/07/23 after having rallying from a 52-week low of $3.92. Since the beginning of this year, NEXT’s stock price has risen by 8.70% or $0.43, and marked a new high 24 times. However, the stock has declined by -38.55% since its 52-week high.
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Financial Health
Based on annual data, NEXT earned $53.48 million in gross profit and brought in $1.12 million in revenue.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. While analysts expected NextDecade Corporation to report -$0.17 quarterly earnings, the actual figure was -$0.84 per share, beating the consensus estimate by -394.10%. During the quarter, the company generated -$27.27 million in EBITDA. The liabilities of NextDecade Corporation were 156.6 million at the end of its most recent quarter ended June 29, and its total debt was $0.96 million. The value of shareholders’ equity is $241.43 million.
Technical Picture
This quick technical analysis looks at NextDecade Corporation’s (NEXT) price momentum. With a historical volatility rate of 39.71%, the RSI 9-day stood at 31.69% on 22 September.
With respect to its five-day moving average, the current NextDecade Corporation price is down by -7.09% percent or -$0.41. At present, NEXT shares trade -11.68% below its 20-day simple moving average and -11.82% percent below its 100-day simple moving average. However, the stock is currently trading approximately -12.68% below its SMA50 and +8.70% above its SMA200.
Stochastic coefficient K was 11.50% and Stochastic coefficient D was 16.26%, while ATR was 0.25. Given the Stochastic reading of 5.21% for the 14-day period, the RSI (14) reading has been calculated as 36.12%. As of today, the MACD Oscillator reading stands at -0.16, while the 14-day reading stands at -0.26.
Analyst Ratings
Wolfe Research upgraded its rating on NextDecade Corporation (NASDAQ: NEXT) to an Outperform in a note to investors on August 16, 2023. The analysts firm previously had a Peer perform rating on the stock.NextDecade Corporation (NEXT) has been rated Buy by analysts. According to 0 brokerage firms, NEXT is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate NextDecade Corporation stock as buy, with 5 recommending it as overweight.
With a median target price of $9.00, the current consensus forecast for the stock is $7.00 – $12.00. Based on these forecasts, analysts predict NextDecade Corporation (NEXT) will achieve an average price target of $9.17.
