NextDecade Corporation (NASDAQ: NEXT) stock jumped 1.45% on Wednesday to $5.58 against a previous-day closing price of $5.50. With 0.36 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.58 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $5.61 whereas the lowest price it dropped to was $5.37. The 52-week range on NEXT shows that it touched its highest point at $8.95 and its lowest point at $2.08 during that stretch. It currently has a 1-year price target of $8.60. Beta for the stock currently stands at 1.04.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NEXT was down-trending over the past week, with a drop of -5.90%, but this was down by -12.13% over a month. Three-month performance dropped to -33.41% while six-month performance fell -24.70%. The stock gained 53.72% in the past year, while it has gained 95.79% so far this year. A look at the trailing 12-month EPS for NEXT yields -0.58 with Next year EPS estimates of -0.20. For the next quarter, that number is -0.06. This implies an EPS growth rate of -38.40% for this year and 41.20% for next year. EPS is expected to grow by 0.60% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -28.50%.
Float and Shares Shorts:
At present, 144.39 million NEXT shares are outstanding with a float of 135.02 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.49 million, which was 3.11% higher than short shares on Sep 14, 2022. In addition to Mr. Matthew K. Schatzman as the firm’s Chairman & CEO, Mr. Brent E. Wahl serves as its Chief Financial Officer.
Through their ownership of 78.17% of NEXT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 69.00% of NEXT, in contrast to 6.66% held by mutual funds. Shares owned by individuals account for 58.43%. As the largest shareholder in NEXT with 39.71% of the stake, York Capital Management Global Ad holds 57,319,619 shares worth 57,319,619. A second-largest stockholder of NEXT, Valinor Management LP, holds 15,169,231 shares, controlling over 10.51% of the firm’s shares. Bardin Hill Investment Partners L is the third largest shareholder in NEXT, holding 9,569,680 shares or 6.63% stake. With a 1.49% stake in NEXT, the Catalyst Energy Infrastructure Fu is the largest stakeholder. A total of 2,145,083 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 1.17% of NEXT stock, is the second-largest Mutual Fund holder. It holds 1,693,218 shares valued at 11.85 million. iShares Russell 2000 ETF holds 0.50% of the stake in NEXT, owning 714,073 shares worth 5.0 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NEXT since 4 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With NEXT analysts setting a high price target of $13.50 and a low target of $5.50, the average target price over the next 12 months is $9.67. Based on these targets, NEXT could surge 141.94% to reach the target high and fall by -1.43% to reach the target low. Reaching the average price target will result in a growth of 73.3% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. NEXT will report FY 2022 earnings on 03/01/2023. Analysts have provided yearly estimates in a range of -$0.37 being high and -$0.70 being low. For NEXT, this leads to a yearly average estimate of -$0.53. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. NextDecade Corporation surprised analysts by -$0.03 when it reported -$0.15 EPS against a consensus estimate of -$0.12. The surprise factor in the prior quarter was -$0.03. Based on analyst estimates, the high estimate for the next quarter is -$0.05 and the low estimate is -$0.19. The average estimate for the next quarter is thus -$0.13.