NextDecade Corporation [NASDAQ: NEXT] stock went on an upward path that rose over 11.36% on Friday, amounting to a one-week price increase of more than 13.43%. The company report on November 18, 2020 that NextDecade Selects Great Lakes Dredge & Dock to Complete Ship Channel Improvements.
NextDecade Corporation (NextDecade) (NASDAQ: NEXT) announced that it has completed a competitive bid and contracting process and has selected Great Lakes Dredge & Dock Corporation (Great Lakes) (NASDAQ: GLDD) to perform essential improvements to the Brownsville Ship Channel (Channel).
These improvements, which include deepening the Channel, will enhance commercial navigation into and out of the Port of Brownsville, ensuring the safe and reliable access of LNG carriers to NextDecade’s Rio Grande LNG facility and optimizing the ability of shallower draft traffic to pass LNG carriers in either direction in accordance with U.S. Coast Guard guidelines. NextDecade, in coordination with the Port of Brownsville, has completed the permitting process for the project activities within the scope of the Dredge and Disposal Construction Agreement (DDCA) announced.
Over the last 12 months, NEXT stock dropped by -58.26%. The one-year NextDecade Corporation stock forecast points to a potential upside of 23.68. The average equity rating for NEXT stock is currently 3.10, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $265.09 million, with 117.56 million shares outstanding and 108.84 million shares in the current float. Compared to the average trading volume of 149.52K shares, NEXT stock reached a trading volume of 456841 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 0.20 The Price to Book ratio for the last quarter was 4.38, with the Price to Cash per share for the same quarter was set at 0.28.
NEXT Stock Performance Analysis:
NextDecade Corporation [NEXT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.43. With this latest performance, NEXT shares dropped by -17.23% in over the last four-week period, additionally plugging by 38.42% over the last 6 months – not to mention a drop of -58.26% 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 56.89, with the RSI for the last a single of trading hit 66.94, and the three-weeks RSI is set at 53.00 for NextDecade Corporation [NEXT]. The present Moving Average for the last 50 days of trading for this stock 2.39, while it was recorded at 2.26 for the last single week of trading, and 2.13 for the last 200 days.
Insight into NextDecade Corporation Fundamentals:
NEXT Stock EPS
With the latest financial reports released by the company, NextDecade Corporation posted -0.12/share EPS, while the average EPS was predicted by analysts to be reported at -0.09/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -33.30%. 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%.
NextDecade Corporation [NEXT] Insider Position Details
There are presently around $233 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 0.50% of the total institutional ownership; VALINOR MANAGEMENT, L.P., holding 19,551,334 shares of the stock with an approximate value of $47.9 million in NEXT stocks shares; and BARDIN HILL MANAGEMENT PARTNERS LP, currently with $23.15 million in NEXT stock with ownership of nearly 0% of the company’s market capitalization.
23 institutional holders increased their position in NextDecade Corporation [NASDAQ:NEXT] by around 3,987,927 shares. Additionally, 18 investors decreased positions by around 680,061 shares, while 9 investors held positions by with 90,481,634 shares. The mentioned changes placed institutional holdings at 95,149,622 shares, according to the latest SEC report filing. NEXT stock had 9 new institutional investments in for a total of 342,331 shares, while 5 institutional investors sold positions of 141,891 shares during the same period.