NextDecade (NASDAQ:NEXT) Trading Up 5.6% – Here’s What Happened

by · The Cerbat Gem

NextDecade Corporation (NASDAQ:NEXTGet Free Report) shares were up 5.6% on Friday . The company traded as high as $5.50 and last traded at $5.5250. Approximately 479,137 shares traded hands during trading, a decline of 84% from the average daily volume of 3,031,458 shares. The stock had previously closed at $5.23.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. TD Cowen reduced their price target on shares of NextDecade from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, October 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of NextDecade in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $8.50.

Check Out Our Latest Stock Analysis on NEXT

NextDecade Trading Up 3.4%

The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 3.34. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -7.42 and a beta of 1.97. The firm has a 50-day moving average price of $5.54 and a 200-day moving average price of $7.49.

NextDecade (NASDAQ:NEXTGet Free Report) last issued its earnings results on Thursday, October 30th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.10). As a group, sell-side analysts predict that NextDecade Corporation will post -0.61 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Aerospace Co. Ltd. Hanwha purchased 851,971 shares of NextDecade stock in a transaction on Thursday, December 11th. The shares were purchased at an average price of $5.83 per share, for a total transaction of $4,966,990.93. Following the transaction, the insider owned 25,620,222 shares of the company’s stock, valued at approximately $149,365,894.26. This represents a 3.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders bought a total of 7,177,861 shares of company stock valued at $42,393,247 over the last three months. 1.80% of the stock is owned by insiders.

Institutional Trading of NextDecade

Several hedge funds have recently made changes to their positions in NEXT. US Bancorp DE increased its holdings in NextDecade by 22,782.4% during the 3rd quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $26,000 after acquiring an additional 3,873 shares during the period. AlphaQuest LLC lifted its position in NextDecade by 102.2% during the 2nd quarter. AlphaQuest LLC now owns 3,961 shares of the company’s stock valued at $35,000 after acquiring an additional 2,002 shares during the period. Raymond James Financial Inc. bought a new position in NextDecade in the 2nd quarter worth about $36,000. Comerica Bank lifted its holdings in shares of NextDecade by 88.0% during the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Bessemer Group Inc. bought a new position in shares of NextDecade during the 3rd quarter valued at $29,000. 66.74% of the stock is currently owned by institutional investors.

About NextDecade

(Get Free Report)

NextDecade Corporation is a Houston‐based liquefied natural gas (LNG) and decarbonization company focused on the development, engineering, construction and operation of large‐scale LNG export facilities. The company’s core mission is to deliver cleaner energy solutions to global customers while integrating carbon capture and sequestration technologies to reduce greenhouse gas emissions. NextDecade’s projects are designed to leverage abundant U.S. natural gas supplies to meet growing worldwide demand for low‐carbon fuel.

NextDecade’s flagship project, Rio Grande LNG, is located at the Port of Brownsville in southern Texas.

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