In the latest trading session, 0.66 million NextDecade Corporation (NASDAQ:NEXT) shares changed hands as the company’s beta touched 0.70. With the company’s most recent per share price at $6.20 changing hands around $0.64 or 11.51% at last look, the market valuation stands at $725.30M. NEXT’s current price is a discount, trading about -30.65% off its 52-week high of $8.10. The share price had its 52-week low at $2.08, which suggests the last value was 66.45% up since then. When we look at NextDecade Corporation’s average trading volume, we note the 10-day average is 0.35 million shares, with the 3-month average coming to 971.01K.
Analysts gave the NextDecade Corporation (NEXT) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.80. If we narrow down to specifics, the data shows that 1 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended NEXT as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. NextDecade Corporation’s EPS for the current quarter is expected to be -$0.08.
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Instantly NEXT is in green as seen in intraday trades today. With action 9.66%, the performance over the past five days has been green. The jump to weekly highs of 6.38 on Tuesday, 07/26/22 added 11.51% to the stock’s daily price. The company’s shares are showing year-to-date upside of 95.09%, with the 5-day performance at 9.66% in the green. However, in the 30-day time frame, NextDecade Corporation (NASDAQ:NEXT) is 21.93% up. Looking at the short shares, we see there were 2.22 million shares sold at short interest cover period of 0.97 days.
The consensus price target for the stock as assigned by Wall Street analysts is $6.88, meaning bulls need an upside of 9.88% from its recent market value. According to analyst projections, NEXT’s forecast low is $4.50 with $10.00 as the target high. To hit the forecast high, the stock’s price needs a -61.29% plunge from its current level, while the stock would need to tank 27.42% for it to hit the projected low.
NextDecade Corporation (NEXT) estimates and forecasts
Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2022 revenue estimates. The rating firms predict current quarter revenue for NextDecade Corporation will fall -60.00%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -28.50%. The 2022 estimates are for NextDecade Corporation earnings to decrease by -38.40%, but the outlook for the next 5-year period is at 0.60% per year.
NextDecade Corporation is expected to release its next quarterly earnings report between March 23 and March 28.
NextDecade Corporation (NASDAQ:NEXT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 3.28% of NextDecade Corporation shares while 85.55% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 88.45%. There are 85.55% institutions holding the NextDecade Corporation stock share, with York Capital Management Global Advisors, LLC the top institutional holder. As of Dec 30, 2021, the company held 44.05% of the shares, roughly 54.34 million NEXT shares worth $154.86 million.
Bardin Hill Management Partners LP holds the second largest percentage of outstanding shares, with 7.69% or 9.49 million shares worth $27.04 million as of Dec 30, 2021.
Among Mutual Funds, the top two as of Dec 30, 2021 were Vanguard Total Stock Market Index Fund and Mutual Fund Ser Tr-Catalyst MLP & Infrastructure Fund. With 1.29 million shares estimated at $3.69 million under it, the former controlled 1.05% of total outstanding shares. On the other hand, Mutual Fund Ser Tr-Catalyst MLP & Infrastructure Fund held about 0.71% of the shares, roughly 0.87 million shares worth around $2.48 million.