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

NextDecade Corporation (NASDAQ:NEXT) gapped up before the market opened on Thursday after an insider bought additional shares in the company. The stock had previously closed at $7.34, but opened at $7.91. NextDecade shares last traded at $7.8550, with a volume of 3,039,504 shares.

Specifically, Director Pamela K.M. Beall bought 71,500 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were acquired at an average price of $7.07 per share, with a total value of $505,505.00. Following the transaction, the director owned 71,500 shares in the company, valued at $505,505. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

NEXT has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. Morgan Stanley reduced their target price on shares of NextDecade from $10.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, February 24th. Capital One Financial assumed coverage on shares of NextDecade in a research report on Friday, February 6th. They issued an “overweight” rating and a $7.00 target price for the company. Finally, TD Cowen lowered their price target on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.67.

NextDecade Price Performance

The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -6.97 and a beta of 2.02. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.54 and a current ratio of 0.54. The company has a 50-day simple moving average of $5.64 and a two-hundred day simple moving average of $5.95.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings data on Friday, February 27th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.20). As a group, equities research analysts forecast that NextDecade Corporation will post -0.61 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE raised its holdings in shares of NextDecade by 22,782.4% in the 3rd quarter. US Bancorp DE now owns 3,890 shares of the company’s stock valued at $26,000 after purchasing an additional 3,873 shares during the period. Bessemer Group Inc. bought a new position in NextDecade during the third quarter worth about $29,000. Comerica Bank increased its position 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 buying an additional 1,900 shares during the last quarter. Raymond James Financial Inc. acquired a new position in NextDecade during the second quarter worth approximately $36,000. Finally, Federated Hermes Inc. bought a new stake in NextDecade in the third quarter valued at approximately $38,000. 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.