Why Is NextDecade Corporation (NASDAQ: NEXT) Gaining?

NextDecade Corporation (NASDAQ:NEXT) traded at $7.82 at close of the session on Monday, June 10, made an upward move of 0.39% on its previous day’s price.

Looking at the stock we see that its previous close was $7.79 . In terms of its 52-week price range, NEXT has a high of $8.74 and a low of $4.01. The company’s stock has gained about 14.33% over that past 30 days.

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NextDecade Corporation has a market cap of $2.02 billion. Estimates by analysts give the company expected earnings per share (EPS) of -$0.05, with the EPS growth for the year raised at -$0.22 for 2024 and -$0.21 for next year. These figures represent 75.30% and 4.50% growth in EPS for the two years respectively.

There have been 1 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the NEXT stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.

Looking further, we note the current price level is 7.48% off its SMA20 and 18.64% from its 50-day simple moving average. The RSI (14) is pointing at 61.74 while the volatility over the past week is 5.89% and jumps to 6.17% over the past one month. The beta value is 1.29, while the average true range (ATR) is currently pointing at 0.40.

Coming back to NextDecade Corporation (NASDAQ:NEXT), we note that the average 3-month trading volume was 1.40 million. Current shares outstanding are 254.30 million.

The insiders hold 34.30% of the company’s shares while institutions hold 53.76%. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 63.94% up in year-to-date price movement.

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