NextDecade (NASDAQ:NEXT) Shares Gap Up Following Insider Buying Activity

Shares of NextDecade Corporation (NASDAQ:NEXT) gapped up before the market opened on Friday after an insider bought additional shares in the company. The stock had previously closed at $6.45, but opened at $6.69. NextDecade shares last traded at $6.60, with a volume of 1,577,009 shares.

Specifically, Director Edward Andrew Jr. Scoggins purchased 15,000 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were acquired at an average cost of $6.46 per share, for a total transaction of $96,900.00. Following the completion of the acquisition, the director owned 200,070 shares of the company’s stock, valued at $1,292,452.20. The trade was a 8.11% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bardin Hill Investment Partner bought 357,021 shares of the stock in a transaction on Tuesday, September 16th. The stock was purchased at an average price of $6.98 per share, for a total transaction of $2,492,006.58. Following the completion of the purchase, the director owned 9,274,894 shares of the company’s stock, valued at approximately $64,738,760.12. This trade represents a 4.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. In other news, CEO Matthew K. Schatzman bought 281,500 shares of the stock in a transaction on Friday, September 12th. The shares were purchased at an average cost of $7.14 per share, for a total transaction of $2,009,910.00. Following the completion of the purchase, the chief executive officer directly owned 5,246,316 shares in the company, valued at $37,458,696.24. This represents a 5.67% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

NEXT has been the topic of several research reports. Zacks Research upgraded NextDecade from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Seaport Res Ptn upgraded NextDecade to a “strong-buy” rating in a research note on Friday, July 25th. Cowen lowered NextDecade from a “buy” rating to a “hold” rating in a research note on Monday. Morgan Stanley restated an “equal weight” rating and issued a $10.00 target price (down from $15.00) on shares of NextDecade in a research note on Friday, September 12th. Finally, TD Cowen restated a “hold” rating and issued a $8.00 target price (down from $11.00) on shares of NextDecade in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. According to MarketBeat, NextDecade has an average rating of “Hold” and a consensus price target of $9.00.

NextDecade Price Performance

The business has a fifty day moving average price of $10.15 and a 200-day moving average price of $8.69. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 2.77. The stock has a market capitalization of $1.72 billion, a PE ratio of -8.44 and a beta of 1.35.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.23) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.23). Research analysts expect that NextDecade Corporation will post -0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On NextDecade

Hedge funds and other institutional investors have recently modified their holdings of the company. Neo Ivy Capital Management bought a new stake in shares of NextDecade in the 1st quarter valued at about $411,000. Teacher Retirement System of Texas bought a new stake in shares of NextDecade in the 1st quarter valued at about $163,000. Westwood Holdings Group Inc. lifted its stake in shares of NextDecade by 9.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,179,636 shares of the company’s stock valued at $9,178,000 after acquiring an additional 104,104 shares during the last quarter. Catalyst Capital Advisors LLC lifted its stake in shares of NextDecade by 22.6% in the 1st quarter. Catalyst Capital Advisors LLC now owns 4,597,423 shares of the company’s stock valued at $35,768,000 after acquiring an additional 846,937 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of NextDecade in the 1st quarter valued at about $1,945,000. 66.74% of the stock is currently owned by hedge funds and other institutional investors.

About NextDecade

NextDecade Corp. is a development company.