Thursday, October 22, 2020

Evercore ISI slashes price target on NextDecade Corporation [NEXT] – find out why.

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NextDecade Corporation [NASDAQ: NEXT] gained 16.04% on the last trading session, reaching $3.11 price per share at the time.

NextDecade Corporation represents 117.39 million in outstanding shares, while the company has a total market value of $323.41 million with the latest information. NEXT stock price has been found in the range of $2.68 to $3.50.

If compared to the average trading volume of 575.56K shares, NEXT reached a trading volume of 1594766 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about NextDecade Corporation [NEXT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NEXT shares is $3.21 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NEXT stock is a recommendation set at 3.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 0.58 The Price to Book ratio for the last quarter was 4.78, with the Price to Cash per share for the same quarter was set at 0.36.

Trading performance analysis for NEXT stock

NextDecade Corporation [NEXT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -36.53. With this latest performance, NEXT shares gained by 127.01% in over the last four-week period, additionally plugging by 80.81% over the last 6 months – not to mention a drop of -44.17% 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 55.20, with the RSI for the last a single of trading hit 52.66, and the three-weeks RSI is set at 56.25 for NextDecade Corporation [NEXT]. The present Moving Average for the last 50 days of trading for this stock 1.96, while it was recorded at 3.26 for the last single week of trading, and 2.84 for the last 200 days.

NextDecade Corporation [NEXT]: A deeper dive into fundamental analysis

NextDecade Corporation [NEXT]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at NextDecade Corporation [NEXT]

There are presently around $286 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 0.40% of the total institutional ownership; VALINOR MANAGEMENT, L.P., holding 19,551,334 shares of the stock with an approximate value of $60.8 million in NEXT stocks shares; and BARDIN HILL MANAGEMENT PARTNERS LP, currently with $29.39 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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