Market Analysts see NextDecade Corporation [NEXT] gaining to $6. Time to buy?

NextDecade Corporation [NASDAQ: NEXT] gained 42.62% or 1.04 points to close at $3.48 with a heavy trading volume of 28485388 shares. The company report on May 6, 2021 that INVESTIGATION ALERT: Fields Kupka & Shukurov LLP Is Investigating NextDecade Corporation for Potential Breach of Fiduciary Duty Claims.

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Fields Kupka & Shukurov LLP is investigating potential breach of fiduciary duty claims involving the board of directors of NextDecade Corporation (NASDAQ:NEXT).

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It opened the trading session at $2.94, the shares rose to $3.75 and dropped to $2.86, the range by which the price of stock traded the whole day. The daily chart for NEXT points out that the company has recorded 39.20% gains over the past six months. However, it is still -192.44% lower than its most recent low trading price.

If we look at the average trading volume of 1.07M shares, NEXT reached to a volume of 28485388 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 $2.80 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 2.70. 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.

Morgan Stanley have made an estimate for NextDecade Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 07, 2021. The new note on the price target was released on March 26, 2021, representing the official price target for NextDecade Corporation stock. Previously, the target price had yet another raise to $3, while Credit Suisse analysts kept a Outperform rating on NEXT stock. On April 21, 2020, analysts decreased their price target for NEXT shares from 7 to 2.50.

The Average True Range (ATR) for NextDecade Corporation is set at 0.25 The Price to Book ratio for the last quarter was 8.29, with the Price to Cash per share for the same quarter was set at 0.32.

Trading performance analysis for NEXT stock

NextDecade Corporation [NEXT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 80.31. With this latest performance, NEXT shares gained by 70.59% in over the last four-week period, additionally plugging by 39.20% over the last 6 months – not to mention a rise of 70.59% 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 82.51, with the RSI for the last a single of trading hit 89.90, and the three-weeks RSI is set at 75.67 for NextDecade Corporation [NEXT]. The present Moving Average for the last 50 days of trading for this stock 2.29, while it was recorded at 2.60 for the last single week of trading, and 2.35 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 -0.04/share EPS, while the average EPS was predicted by analysts to be reported at -0.08/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 50.00%. 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 $325 million, or 84.70% 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 54,337,479, which is approximately 0% of the company’s market cap and around 1.00% of the total institutional ownership; VALINOR MANAGEMENT, L.P., holding 19,551,334 shares of the stock with an approximate value of $68.04 million in NEXT stocks shares; and BARDIN HILL MANAGEMENT PARTNERS LP, currently with $32.88 million in NEXT stock with ownership of nearly 0% of the company’s market capitalization.

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30 institutional holders increased their position in NextDecade Corporation [NASDAQ:NEXT] by around 1,928,762 shares. Additionally, 20 investors decreased positions by around 857,328 shares, while 13 investors held positions by with 90,606,513 shares. The mentioned changes placed institutional holdings at 93,392,603 shares, according to the latest SEC report filing. NEXT stock had 14 new institutional investments in for a total of 1,250,495 shares, while 3 institutional investors sold positions of 35,336 shares during the same period.

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