Sunday, September 27, 2020

NextDecade Corporation [NEXT] moved up 75.19: Why It’s Important

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NextDecade Corporation [NASDAQ: NEXT] jumped around 1.0 points on Tuesday, while shares priced at $2.33 at the close of the session, up 75.19%. The company report on July 14, 2020 that NextDecade Reducing CO2e Emissions by Optimizing Rio Grande LNG Project.

NextDecade Corporation (NextDecade or the Company) (NASDAQ: NEXT) today announced the Company is optimizing its Rio Grande LNG project (RGLNG). Throughout the course of its pre-FID development activities, NextDecade has worked diligently to reduce the environmental impacts of RGLNG.

The original front-end engineering and design for RGLNG was based on six LNG trains each capable of producing 4.5 million metric tonnes per annum (mtpa) of LNG for export. The technologies that were selected and filed with the Federal Energy Regulatory Commission (FERC) in 2015 and 2016 have evolved over the five-year permitting period; the LNG trains are now more efficient and will produce more LNG with lower total carbon dioxide equivalent (CO2e) emissions. Multiple optimizations have been identified that will lead to the delivery of a world-class LNG project capable of producing 27 mtpa with just five LNG trains instead of six.

NextDecade Corporation stock is now -62.05% down from its year-to-date (YTD) trading value. NEXT Stock saw the intraday high of $2.60 and lowest of $1.33 per share. The company’s 52-week high price is 6.78, which means current price is +108.97% above from all time high which was touched on 01/08/20.

Compared to the average trading volume of 164.40K shares, NEXT reached a trading volume of 7261919 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about NextDecade Corporation [NEXT]?

Evercore ISI have made an estimate for NextDecade Corporation shares, keeping their opinion on the stock as In-line, with their previous recommendation back on April 21, 2020. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Underweight. The new note on the price target was released on September 20, 2019, representing the official price target for NextDecade Corporation stock. Previously, the target price had yet another raise to $11, while Evercore ISI analysts kept a Outperform rating on NEXT stock.

The Average True Range (ATR) for NextDecade Corporation is set at 0.18 The Price to Book ratio for the last quarter was 3.58, with the Price to Cash per share for the same quarter was set at 0.32.

How has NEXT stock performed recently?

NextDecade Corporation [NEXT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 75.19. With this latest performance, NEXT shares gained by 60.69% in over the last four-week period, additionally plugging by 10.95% over the last 6 months – not to mention a drop of -63.02% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NEXT stock in for the last two-week period is set at 79.42, with the RSI for the last a single of trading hit 86.30, and the three-weeks RSI is set at 71.23 for NextDecade Corporation [NEXT]. The present Moving Average for the last 50 days of trading for this stock 1.63, while it was recorded at 1.49 for the last single week of trading, and 3.05 for the last 200 days.

NextDecade Corporation [NEXT]: Deeper insight into the fundamentals

Earnings analysis for NextDecade Corporation [NEXT]

With the latest financial reports released by the company, NextDecade Corporation posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.12/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 41.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NEXT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for NextDecade Corporation go to 0.60%.

Insider trade positions for NextDecade Corporation [NEXT]

There are presently around $214 million, or 84.50% of NEXT stock, in the hands of institutional investors. The top three institutional holders of NEXT stocks are: YORK CAPITAL MANAGEMENT GLOBAL ADVISORS, LLC with ownership of 57,873,196, which is approximately 0% of the company’s market cap and around 0.20% of the total institutional ownership; VALINOR MANAGEMENT, L.P., holding 19,551,334 shares of the stock with an approximate value of $45.55 million in NEXT stocks shares; and BARDIN HILL MANAGEMENT PARTNERS LP, currently with $22.02 million in NEXT stock with ownership of nearly 0% of the company’s market capitalization.

22 institutional holders increased their position in NextDecade Corporation [NASDAQ:NEXT] by around 1,827,306 shares. Additionally, 13 investors decreased positions by around 578,414 shares, while 9 investors held positions by with 89,436,036 shares. The mentioned changes placed institutional holdings at 91,841,756 shares, according to the latest SEC report filing. NEXT stock had 8 new institutional investments in for a total of 168,597 shares, while 3 institutional investors sold positions of 347,479 shares during the same period.

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