Valinor Management LP has recently announced that it has increased stake in NextDecade Corporation (NASDAQ:NEXT) by 0.84%. After grabbing 14.86 million shares, the institutional investor is now in possession of 0.12 million shares of the Energy Company. The new investment brought the stake of investor firm to 10.29% having worth around $104.92 million. Moreover, The Vanguard Group, Inc. increased its share by 1.29 million to have a control over 4.08 million shares. And Tortoise Capital Advisors LLC raised its holdings to 3.4 million shares by acquiring 3.4 million shares or 2.36% of the stake.
NextDecade Corporation (NEXT) concluded trading on 03/15/23 at a closing price of $4.48, with 2.0 million shares of worth about $8.98 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -32.33% during that period and on Wednesday the price saw a loss of about -11.81%. Currently the company’s common shares owned by public are about 144.39M shares, out of which, 135.15M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 5 analysts are covering the NEXT stock and their offered price forecasts bring an average price target of $8.63. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $12.00 and could fall to a lowest price of $4.50. The stock’s current price level is 47.91% above of average price target set by the analysts, while a rise to estimated low would result in gain of 0.44% for the stock. However, touching the estimated high of $12.00 would mean a gain of 62.67% for the stock.
Catalyst Energy Infrastructure Fu, Vanguard Total Stock Market Index, and Tortoise Energy Infrastructure To are the top 3 mutual funds which are holding stakes in NextDecade Corporation Catalyst Energy Infrastructure Fu is currently holding 2.68 million shares of worth totaling $18.95 million. The company recently came buying 0.44 million shares which brought its stake up to 1.86% of the company’s outstanding shares. Tortoise Energy Infrastructure To, after buying 2.2 million shares, have now control over 1.52% of the stake in the company. It holds 2.2 million shares of worth $15.51 million.
NextDecade Corporation (NASDAQ: NEXT) started trading at $4.85, below -$0.23 from concluding price of the previous day. However, the stock later moved at a day high price of 4.8550, or with a loss of -11.81%. Stock saw a price change of -32.02% in past 5 days and over the past one month there was a price change of -35.91%. Year-to-date (YTD), NEXT shares are showing a performance of -9.31% which increased to 35.35% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.06 but also hit the highest price of $8.95 during that period. The average intraday trading volume for NextDecade Corporation shares is 597.39K. The stock is currently trading -32.96% below its 20-day simple moving average (SMA20), while that difference is down -27.39% for SMA50 and it goes to -27.44% lower than SMA200.
Valinor Management LP acquired 14.86 million shares of NextDecade Corporation having value of about $104.92 million. Data submitted at the U.S SEC by Valinor Management LP revealed that the firm now holds 0.12 million shares in the company valued at close to $557603.2, or have control over 0.84% stake in the company. NextDecade Corporation (NASDAQ: NEXT) currently have 144.39M outstanding shares and institutions hold larger chunk of about 83.30% of that. Holding of mutual funds in the company is about 58.45% while other institutional holders and individual stake holders have control over 69.94% and 10.10% of the stake respectively.
The stock has a current market capitalization of $685.66M and its 3Y-monthly beta is at 1.03. It has posted earnings per share of -$0.58 in the same period. It has a debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NEXT, volatility over the week remained 12.34% while standing at 6.73% over the month.
Analysts are in expectations that NextDecade Corporation (NEXT) stock would likely to be making an EPS of -$0.13 in the current quarter, while forecast for next quarter EPS is -$0.18 and it is -$0.82 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.31 which is -$0.06 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.11 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -75.00% while it is estimated to decrease by -21.40% in next year.
Analysts at 5 brokerage firms have issued recommendations for the NextDecade Corporation (NEXT)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 5 Wall Street analysts, 3 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Stifel on July 28, 2022 offering a Hold rating for the stock and assigned a target price range of between $4.50 and $6 to it. Coverage by Stifel stated NextDecade Corporation (NEXT) stock as a Sell in their note to investors on April 26, 2022, suggesting a price target of $4 for the stock. On April 01, 2022, Credit Suisse Downgrade their recommendations, while on June 08, 2021, Evercore ISI Upgrade their ratings for the stock with a price target of $9. Stock get an Overweight rating from Morgan Stanley on June 07, 2021.
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