Truist Financial Corp Makes New Investment in NextDecade Corporation $NEXT

Truist Financial Corp purchased a new position in NextDecade Corporation (NASDAQ:NEXT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,437 shares of the company’s stock, valued at approximately $86,000.

Other hedge funds have also modified their holdings of the company. Fort Washington Investment Advisors Inc. OH boosted its position in shares of NextDecade by 6.2% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 852,422 shares of the company’s stock worth $7,595,000 after purchasing an additional 49,695 shares during the period. Neo Ivy Capital Management bought a new position in shares of NextDecade in the first quarter worth approximately $411,000. Teacher Retirement System of Texas bought a new position in shares of NextDecade in the first quarter worth approximately $163,000. Westwood Holdings Group Inc. boosted its position in shares of NextDecade by 9.7% in the first quarter. Westwood Holdings Group Inc. now owns 1,179,636 shares of the company’s stock worth $9,178,000 after purchasing an additional 104,104 shares during the period. Finally, Catalyst Capital Advisors LLC boosted its position in shares of NextDecade by 22.6% during the first quarter. Catalyst Capital Advisors LLC now owns 4,597,423 shares of the company’s stock worth $35,768,000 after acquiring an additional 846,937 shares during the last quarter. 66.74% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Aerospace Co. Ltd. Hanwha bought 449,510 shares of NextDecade stock in a transaction dated Wednesday, September 24th. The shares were acquired at an average price of $7.02 per share, with a total value of $3,155,560.20. Following the completion of the purchase, the insider owned 18,537,697 shares in the company, valued at $130,134,632.94. The trade was a 2.49% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Matthew K. Schatzman bought 281,500 shares of NextDecade stock in a transaction dated Friday, September 12th. The stock was purchased at an average cost of $7.14 per share, for a total transaction of $2,009,910.00. Following the purchase, the chief executive officer owned 5,246,316 shares of the company’s stock, valued at approximately $37,458,696.24. This trade represents a 5.67% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 1,654,850 shares of company stock worth $11,611,592. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

NEXT has been the subject of a number of research reports. TD Cowen restated a “hold” rating and set a $8.00 target price (down previously from $11.00) on shares of NextDecade in a research report on Monday, September 15th. Cowen lowered shares of NextDecade from a “buy” rating to a “hold” rating in a research report on Monday, September 15th. Morgan Stanley restated an “equal weight” rating and set a $10.00 target price (down previously from $15.00) on shares of NextDecade in a research report on Friday, September 12th. Weiss Ratings restated a “sell (d-)” rating on shares of NextDecade in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of NextDecade from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $9.00.

NextDecade Price Performance

NextDecade stock opened at $6.10 on Friday. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -7.82 and a beta of 1.78. The firm’s fifty day moving average is $8.33 and its 200 day moving average is $8.52. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 2.77. NextDecade Corporation has a 52-week low of $5.16 and a 52-week high of $12.12.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.23). Sell-side analysts forecast that NextDecade Corporation will post -0.61 EPS for the current fiscal year.

About NextDecade

NextDecade Corp. is a development company.