NextDecade (NASDAQ:NEXT) Trading 1.7% Higher – What’s Next?

NextDecade Corporation (NASDAQ:NEXT)’s stock price was up 1.7% during trading on Friday . The company traded as high as $8.48 and last traded at $8.40. Approximately 2,782,766 shares changed hands during mid-day trading, an increase of 16% from the average daily volume of 2,404,584 shares. The stock had previously closed at $8.26.

Analyst Ratings Changes

A number of equities analysts have commented on NEXT shares. Weiss Ratings raised shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, April 27th. Morgan Stanley lifted their price target on shares of NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 21st. Citigroup initiated coverage on shares of NextDecade in a research note on Wednesday, May 13th. They set a “buy” rating and a $11.00 price target for the company. Finally, TD Cowen dropped their price target on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, NextDecade has an average rating of “Hold” and a consensus price target of $8.00.

NextDecade Stock Performance

The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.96. The business’s 50 day moving average is $8.01 and its 200 day moving average is $6.50. The stock has a market capitalization of $2.23 billion, a PE ratio of -6.27 and a beta of 1.60.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.15. On average, equities research analysts predict that NextDecade Corporation will post -2.16 earnings per share for the current fiscal year.

Insider Activity at NextDecade

In other news, Director Pamela K.M. Beall purchased 71,500 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was purchased at an average cost of $7.07 per share, with a total value of $505,505.00. Following the purchase, the director owned 71,500 shares in the company, valued at approximately $505,505. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On NextDecade

Several large investors have recently added to or reduced their stakes in NEXT. Man Investment Partners US LP purchased a new stake in NextDecade in the 4th quarter valued at about $48,879,000. Adage Capital Partners GP L.L.C. boosted its position in 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 valued at $13,810,000 after buying an additional 1,300,000 shares during the period. Wolf Hill Capital Management LP boosted its position in NextDecade by 25.9% in the 4th quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company’s stock valued at $19,493,000 after buying an additional 761,299 shares during the period. Goldman Sachs Group Inc. boosted its position in NextDecade by 77.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,676,336 shares of the company’s stock valued at $8,834,000 after buying an additional 732,550 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new stake in NextDecade in the 3rd quarter valued at about $4,935,000. 66.74% of the stock is owned by hedge funds and other institutional investors.

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.