The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. NextDecade Corporation shares valued at $87,681,818 were purchased by HGC Next Inv LLC on Jul 29 ’24. At $7.50 per share, HGC Next Inv LLC acquired 11,690,909 shares. The insider’s holdings grew to 17,536,369 shares worth approximately $123.11 million following the completion of this transaction.
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Also, York Capital Management Global sold 35,072,737 shares, netting a total of over 263,045,528 in proceeds. Following the sale of shares at $7.50 each, the insider now holds 4,264,298 shares.
As published in a research note from TD Cowen on June 06, 2024, NextDecade Corporation [NEXT] has been retained to a Buy and the price target has been revised to $9. Analysts at Wolfe Research upgraded the stock from ‘”a Peer perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid August. As of August 15, 2023, Stifel has increased its “Hold” rating to a “Buy” for NEXT. Earlier on July 28, 2022, Stifel upgraded its rating. Their new recommendation was “a Hold” for NEXT stock which previously was a “a Sell”.
Analyzing NEXT Stock Performance
During the last five days, there has been a drop of approximately -2.36%. Over the course of the year, NextDecade Corporation shares have jumped approximately 47.17%. Shares of the company reached a 52-week high of $8.52 on 07/24/24 and a 52-week low of $4.26 on 01/10/24. A 50-day SMA is recorded $6.14, while a 200-day SMA reached $6.25. Nevertheless, trading volume fell to 1.07 million shares from 2.72 million shares the previous day.
Support And Resistance Levels for NextDecade Corporation (NEXT)
According to the 24-hour chart, there is a support level at 6.96, which, if violated, would cause prices to drop to 6.90. In the upper region, resistance lies at 7.10. The next price resistance is at 7.17. RSI (Relative Strength Index) is 54.79 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.20, which suggests the price will decrease in the coming days. Percent R is at 82.45%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
