Insider Buying: NextDecade (NASDAQ:NEXT) Director Buys 71,500 Shares of Stock

NextDecade Corporation (NASDAQ:NEXT) Director Pamela K.M. Beall purchased 71,500 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was acquired at an average cost of $7.07 per share, for a total transaction of $505,505.00. Following the completion of the purchase, the director owned 71,500 shares of the company’s stock, valued at approximately $505,505. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NextDecade Stock Up 1.5%

NASDAQ NEXT traded up $0.11 on Wednesday, hitting $7.34. 4,913,717 shares of the company were exchanged, compared to its average volume of 3,899,750. The stock has a fifty day moving average of $5.54 and a 200-day moving average of $5.92. NextDecade Corporation has a 12 month low of $4.75 and a 12 month high of $12.12. The company has a market cap of $1.94 billion, a PE ratio of -6.27 and a beta of 2.02. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 3.70.

NextDecade (NASDAQ:NEXT) last issued its earnings results on Friday, February 27th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.20). As a group, analysts forecast that NextDecade Corporation will post -0.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Man Investment Partners US LP purchased a new position in shares of NextDecade during the fourth quarter worth approximately $48,879,000. Adage Capital Partners GP L.L.C. lifted its stake in NextDecade by 520.0% in the second 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 during the period. Wolf Hill Capital Management LP grew its holdings in NextDecade by 25.9% during 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. grew its holdings in NextDecade by 77.6% during 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 purchased a new position in NextDecade during the 3rd quarter valued at about $4,935,000. Hedge funds and other institutional investors own 66.74% of the company’s stock.

About NextDecade

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.