NextDecade Corporation (NEXT) Shares Decline Despite Market Challenges

The stock price of NextDecade Corporation (NASDAQ: NEXT) has plunged by -3.23 when compared to previous closing price of 7.74, but the company has seen a -6.49% decline in its stock price over the last five trading sessions. zacks.com reported 2024-06-17 that The average of price targets set by Wall Street analysts indicates a potential upside of 28.5% in NextDecade (NEXT). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Is It Worth Investing in NextDecade Corporation (NASDAQ: NEXT) Right Now?

The stock has a 36-month beta value of 1.29. Opinions on the stock are mixed, with 1 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for NEXT is 169.94M, and at present, short sellers hold a 6.21% of that float. On July 11, 2024, the average trading volume of NEXT was 1.62M shares.

NEXT’s Market Performance

NEXT’s stock has seen a -6.49% decrease for the week, with a -3.85% drop in the past month and a 25.25% gain in the past quarter. The volatility ratio for the week is 3.33%, and the volatility levels for the past 30 days are at 3.62% for NextDecade Corporation The simple moving average for the past 20 days is -4.72% for NEXT’s stock, with a 34.21% simple moving average for the past 200 days.

Analysts’ Opinion of NEXT

Many brokerage firms have already submitted their reports for NEXT stocks, with TD Cowen repeating the rating for NEXT by listing it as a “Buy.” The predicted price for NEXT in the upcoming period, according to TD Cowen is $9 based on the research report published on June 06, 2024 of the current year 2024.

Wolfe Research, on the other hand, stated in their research note that they expect to see NEXT reach a price target of $8. The rating they have provided for NEXT stocks is “Outperform” according to the report published on August 16th, 2023.

Stifel gave a rating of “Buy” to NEXT, setting the target price at $9 in the report published on August 15th of the previous year.

NEXT Trading at 1.72% from the 50-Day Moving Average

After a stumble in the market that brought NEXT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -14.20% of loss for the given period.

Volatility was left at 3.62%, however, over the last 30 days, the volatility rate increased by 3.33%, as shares sank -4.22% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +17.03% upper at present.

During the last 5 trading sessions, NEXT fell by -6.49%, which changed the moving average for the period of 200-days by +40.00% in comparison to the 20-day moving average, which settled at $7.84. In addition, NextDecade Corporation saw 57.02% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at NEXT starting from Bardin Hill Investment Partner, who sale 471,519 shares at the price of $5.13 back on Sep 29 ’23. After this action, Bardin Hill Investment Partner now owns 11,208,389 shares of NextDecade Corporation, valued at $2,419,364 using the latest closing price.

Bardin Hill Investment Partner, the Director of NextDecade Corporation, sale 471,519 shares at $5.13 during a trade that took place back on Sep 29 ’23, which means that Bardin Hill Investment Partner is holding 11,208,389 shares at $2,419,364 based on the most recent closing price.

Stock Fundamentals for NEXT

Current profitability levels for the company are sitting at:

  • -146.89 for the present operating margin
  • -3.34 for the gross margin

The net margin for NextDecade Corporation stands at -117.11. The total capital return value is set at -0.04. Equity return is now at value -27.11, with -4.73 for asset returns.

Based on NextDecade Corporation (NEXT), the company’s capital structure generated 0.82 points at debt to capital in total, while cash flow to debt ratio is standing at -0.03. The debt to equity ratio resting at 4.61. The interest coverage ratio of the stock is -1.33.

Currently, EBITDA for the company is -119.52 million with net debt to EBITDA at -76.71. When we switch over and look at the enterprise to sales, we see a ratio of 4640.82. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.56.

Conclusion

To sum up, NextDecade Corporation (NEXT) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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