NextDecade (NASDAQ:NEXT) Stock Price Down 5.8% – Here’s Why

NextDecade Corporation (NASDAQ:NEXT) shares fell 5.8% on Tuesday . The company traded as low as $7.72 and last traded at $7.5810. 2,546,483 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 4,105,647 shares. The stock had previously closed at $8.05.

Analyst Ratings Changes

A number of analysts have recently weighed in on NEXT shares. TD Cowen dropped their price objective on NextDecade from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. Capital One Financial initiated coverage on NextDecade in a research report on Friday, February 6th. They set an “overweight” rating and a $7.00 price objective on the stock. Morgan Stanley decreased their target price on NextDecade from $10.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 24th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. One equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.67.

NextDecade Stock Down 6.1%

The company’s fifty day moving average price is $5.76 and its 200-day moving average price is $5.89. The stock has a market capitalization of $2.00 billion, a PE ratio of -6.47 and a beta of 2.02. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 3.70.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings results 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). Analysts forecast that NextDecade Corporation will post -0.61 earnings per share for the current year.

Insider Buying and Selling at NextDecade

In other news, Director Pamela K.M. Beall bought 71,500 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were purchased at an average price 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 in the company, valued at approximately $505,505. This represents a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On NextDecade

Several large investors have recently bought and sold shares of NEXT. Vanguard Group Inc. lifted its stake in NextDecade by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 10,378,992 shares of the company’s stock valued at $70,473,000 after acquiring an additional 52,803 shares during the period. Man Investment Partners US LP purchased a new position in shares of NextDecade during the fourth quarter valued at approximately $48,879,000. Wolf Hill Capital Management LP raised its holdings in shares of NextDecade by 25.9% during the fourth quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company’s stock valued at $19,493,000 after purchasing an additional 761,299 shares during the last quarter. Geode Capital Management LLC lifted its position in NextDecade by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 3,457,163 shares of the company’s stock valued at $18,222,000 after purchasing an additional 45,757 shares during the period. Finally, Bank of America Corp DE boosted its holdings in NextDecade by 16.7% in the second quarter. Bank of America Corp DE now owns 3,102,352 shares of the company’s stock worth $27,642,000 after purchasing an additional 444,518 shares during the last quarter. 66.74% of the stock is currently owned by institutional investors.

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.