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Thursday, October 1, 2020

NextDecade Corporation (NASDAQ:NEXT) is Holding Steady

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The NextDecade Corporation (NEXT) shares are trading at higher $1.97 and the avg recommendation for the stock is Hold.

To add more color to this target, the company’s high over the last year is $6.78 and the low is $1.12. Over the last 52 weeks, NEXT is down -70.94% while the S&P 500 is up 0.92%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, NEXT reported a profit of $7.24 million. NextDecade Corporation also saw revenues increase to $0.41 million. In addition, NEXT has free cash flow of -$28.06 million as of 03-2020. The company’s EBITDA came in at -$6.72 million which compares well with its peers.

NEXT Return on Equity (ROE) is -49.70%, and its Return on Assets is -17.40%. All told, it is clear that, NEXT needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. NEXT has a short ratio of 5.51 and outstanding shares of 117.35M.

Company Outlook

NEXT has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.11 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.30. NextDecade Corporation NEXT also noted assets of $218.78 million at the end of the last quarter. Investors should also keep an eye on sector updates as NEXT has historically followed its peers on positive news.

All told, NextDecade Corporation NEXT has strung together solid data and demonstrated underlying fundamentals. At its current valuation, NEXT represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

NextDecade Corporation NEXT is now commanding a market cap of 247.41M and a float of 108.99M. NEXT is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of NEXT stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in NEXT, either long or short, and we have not been compensated for this article.

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