NextDecade (NASDAQ:NEXT) Trading 5.6% Higher – Time to Buy?

Shares of NextDecade Corporation (NASDAQ:NEXT) shot up 5.6% on Friday . The company traded as high as $5.50 and last traded at $5.5250. 479,137 shares traded hands during trading, a decline of 84% from the average session volume of 3,031,458 shares. The stock had previously closed at $5.23.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NextDecade in a research report on Monday, December 29th. TD Cowen decreased their price target on shares of NextDecade from $8.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, October 23rd. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $8.50.

NextDecade Trading Up 0.8%

The stock has a 50-day moving average of $5.52 and a 200 day moving average of $7.45. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 3.34. The stock has a market cap of $1.40 billion, a PE ratio of -7.22 and a beta of 1.97.

NextDecade (NASDAQ:NEXT) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.10). As a group, sell-side analysts anticipate that NextDecade Corporation will post -0.61 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Aerospace Co. Ltd. Hanwha purchased 800,000 shares of the business’s stock in a transaction on Friday, December 12th. The shares were bought at an average cost of $5.54 per share, with a total value of $4,432,000.00. Following the transaction, the insider owned 26,420,222 shares of the company’s stock, valued at approximately $146,368,029.88. This trade represents a 3.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 7,177,861 shares of company stock valued at $42,393,247 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of NextDecade

A number of hedge funds have recently modified their holdings of NEXT. Comerica Bank grew its holdings in NextDecade by 88.0% during the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after acquiring an additional 1,900 shares during the period. AQR Capital Management LLC purchased a new position in shares of NextDecade during the 1st quarter valued at approximately $386,000. Millennium Management LLC increased its holdings in shares of NextDecade by 10.1% during the 1st quarter. Millennium Management LLC now owns 1,404,770 shares of the company’s stock valued at $10,929,000 after purchasing an additional 128,568 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of NextDecade in the 1st quarter valued at $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in NextDecade by 13.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 277,307 shares of the company’s stock worth $2,157,000 after buying an additional 33,941 shares in the last quarter. Hedge funds and other institutional investors own 66.74% of the company’s stock.

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.