NextDecade Corporation $NEXT Shares Acquired by Citigroup Inc.

Citigroup Inc. increased its stake in shares of NextDecade Corporation (NASDAQ:NEXT) by 1,112.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 681,904 shares of the company’s stock after purchasing an additional 625,652 shares during the quarter. Citigroup Inc. owned 0.26% of NextDecade worth $4,630,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NEXT. Comerica Bank boosted its stake in shares of NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after buying an additional 1,900 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in NextDecade by 27.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 9,061 shares of the company’s stock valued at $81,000 after acquiring an additional 1,956 shares in the last quarter. AlphaQuest LLC raised its holdings in NextDecade by 102.2% in the second quarter. AlphaQuest LLC now owns 3,961 shares of the company’s stock valued at $35,000 after acquiring an additional 2,002 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in NextDecade by 20.6% in the second quarter. Ameritas Investment Partners Inc. now owns 13,662 shares of the company’s stock worth $122,000 after acquiring an additional 2,334 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in NextDecade by 9.6% during the 2nd quarter. ProShare Advisors LLC now owns 27,439 shares of the company’s stock worth $244,000 after acquiring an additional 2,407 shares in the last quarter. Institutional investors and hedge funds own 66.74% of the company’s stock.

Analyst Ratings Changes

NEXT has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of NextDecade in a report on Monday, December 29th. Morgan Stanley dropped their target price on NextDecade from $10.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 24th. Finally, Capital One Financial began coverage on NextDecade in a report on Friday, February 6th. They set an “overweight” rating and a $7.00 price target for the company. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.00.

Insider Transactions at NextDecade

In other news, major shareholder Aerospace Co. Ltd. Hanwha purchased 851,971 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were bought at an average price of $5.83 per share, with a total value of $4,966,990.93. Following the completion of the transaction, the insider directly owned 25,620,222 shares in the company, valued at approximately $149,365,894.26. This represents a 3.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders purchased 2,979,586 shares of company stock worth $17,588,544. Company insiders own 1.80% of the company’s stock.

NextDecade Stock Performance

NASDAQ NEXT opened at $5.61 on Wednesday. The firm’s fifty day moving average price is $5.25 and its 200 day moving average price is $6.36. NextDecade Corporation has a 12 month low of $4.75 and a 12 month high of $12.12. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -4.79 and a beta of 2.02.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings data on Friday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.20). On average, sell-side analysts expect that NextDecade Corporation will post -0.61 earnings per share for the current fiscal year.

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.