NextDecade (NASDAQ:NEXT) Shares Up 5.3% – Still a Buy?

NextDecade Corporation (NASDAQ:NEXT) shares shot up 5.3% during mid-day trading on Tuesday . The stock traded as high as $9.03 and last traded at $8.7540. 2,405,182 shares traded hands during trading, a decline of 43% from the average session volume of 4,218,520 shares. The stock had previously closed at $8.31.

Analysts Set New Price Targets

Several brokerages recently issued reports on NEXT. Morgan Stanley lowered their price target on NextDecade from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings restated a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. Capital One Financial began coverage on NextDecade in a research note on Friday, February 6th. They set an “overweight” rating and a $7.00 price target on the stock. Finally, TD Cowen lowered their price target on NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Thursday, March 5th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.67.

NextDecade Stock Performance

The company has a market capitalization of $2.33 billion, a P/E ratio of -7.50 and a beta of 1.69. The firm has a 50 day moving average price of $6.03 and a two-hundred day moving average price of $5.93. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.54 and a current ratio of 0.54.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings data on Friday, February 27th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.20). On average, research analysts expect that NextDecade Corporation will post -0.61 earnings per share for the current fiscal year.

Insider Activity at NextDecade

In other NextDecade news, Director Pamela K.M. Beall bought 71,500 shares of NextDecade stock in a transaction dated Monday, March 23rd. The shares were acquired at an average cost of $7.07 per share, with a total value of $505,505.00. Following the acquisition, the director directly owned 71,500 shares of the company’s stock, valued at $505,505. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NEXT. Man Investment Partners US LP acquired a new position in shares of NextDecade in the 4th quarter worth approximately $48,879,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of NextDecade by 520.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company’s stock worth $13,810,000 after acquiring an additional 1,300,000 shares in the last quarter. Wolf Hill Capital Management LP boosted its holdings in shares of NextDecade by 25.9% in the 4th quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company’s stock worth $19,493,000 after acquiring an additional 761,299 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of NextDecade by 77.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,676,336 shares of the company’s stock worth $8,834,000 after acquiring an additional 732,550 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in shares of NextDecade in the 3rd quarter worth approximately $4,935,000. 66.74% of the stock is owned by institutional investors and hedge funds.

NextDecade Company Profile

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.