NextDecade Corporation (NASDAQ: NEXT) stock jumped 0.87% on Friday to $5.78 against a previous-day closing price of $5.73. With 3.49 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.6 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $5.82 whereas the lowest price it dropped to was $5.61. The 52-week range on NEXT shows that it touched its highest point at $8.74 and its lowest point at $3.92 during that stretch. It currently has a 1-year price target of $8.40. Beta for the stock currently stands at 1.06.
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 -2.86%, but this was up by 0.17% over a month. Three-month performance dropped to -28.38% while six-month performance rose 28.44%. The stock lost -16.11% in the past year, while it has gained 17.00% so far this year. A look at the trailing 12-month EPS for NEXT yields -1.44 with Next year EPS estimates of -0.70. For the next quarter, that number is -0.13. This implies an EPS growth rate of -91.30% for this year and 34.00% 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 -13.10%.
Float and Shares Shorts:
At present, 241.43 million NEXT shares are outstanding with a float of 168.73 million shares on hand for trading. On Aug 30, 2023, short shares totaled 4.71 million, which was 1.95% higher than short shares on Jul 30, 2023. 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 97.36% of NEXT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 5.94% of NEXT, in contrast to 43.76% held by mutual funds. Shares owned by individuals account for 40.47%. As the largest shareholder in NEXT with 23.63% of the stake, York Capital Management Global Ad holds 57,046,279 shares worth 57,046,279. A second-largest stockholder of NEXT, Valinor Management LP, holds 17,758,609 shares, controlling over 7.36% of the firm’s shares. Bardin Hill Investment Partners L is the third largest shareholder in NEXT, holding 9,569,680 shares or 3.96% stake. With a 1.12% stake in NEXT, the Catalyst Energy Infrastructure Fu is the largest stakeholder. A total of 2,714,755 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 1.00% of NEXT stock, is the second-largest Mutual Fund holder. It holds 2,424,790 shares valued at 14.72 million. Tortoise Energy Infrastructure To holds 0.80% of the stake in NEXT, owning 1,935,959 shares worth 11.75 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, NEXT reported revenue of $0.00 and operating income of -$12.82M. The EBITDA in the recently reported quarter was -$14.47M and diluted EPS was -$0.13.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NEXT since 0 analysts follow the stock currently. 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 $12.00 and a low target of $6.00, the average target price over the next 12 months is $9.00. Based on these targets, NEXT could surge 107.61% to reach the target high and rise by 3.81% to reach the target low. Reaching the average price target will result in a growth of 55.71% 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.