NextDecade Shares Soar 4.18% on Project Advancements, Analyst Upgrades

NextDecade(NEXT) shares surged 4.18% today, marking the third consecutive day of gains, with a cumulative increase of 24.67% over the past three days. The stock price reached its highest level since July 2017, with an intraday gain of 6.22%.

The strategy of buying NEXT shares after they reach a recent high and selling after one week resulted in no return over the past five years. The strategy had a CAGR of 0.00% and an excess return of 100.00%, with a maximum drawdown of 0.00% and volatility of 0.00%, indicating it neither gained nor lost any money.

NextDecade is making significant strides in advancing its Rio Grande LNG project. The company has secured new engineering, procurement, and construction (EPC) contracts for Trains 4 & 5, and has finalized a deal with JERA. These developments are expected to drive project advancements and strengthen partnerships, contributing to a positive outlook for the company's stock.

NextDecade's Relative Strength (RS) Rating has been upgraded from 89 to 94, reflecting strong technical performance relative to other stocks. This upgrade may attract investors and further bolster the company's stock price.

TD Cowen has upgraded NextDecade's shares from a "hold" to a "buy" rating, setting a price objective of $11.00. This upgrade indicates confidence in the company's future prospects and is likely to boost investor interest, potentially driving the stock price higher.

TD Cowen analyst Jason Gabelman maintained a Buy rating on NextDecade on July 7, reinforcing positive sentiment and potentially influencing the stock price favorably. This consistent positive outlook from analysts further supports the company's stock performance.