Pamela K.M. Beall Purchases 71,500 Shares of NextDecade (NASDAQ:NEXT) Stock

NextDecade Corporation (NASDAQ:NEXT) Director Pamela K.M. Beall purchased 71,500 shares of NextDecade stock in a transaction that occurred on Monday, March 23rd. The stock was 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. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

NextDecade Stock Up 11.0%

Shares of NASDAQ:NEXT opened at $8.15 on Friday. NextDecade Corporation has a 1-year low of $4.75 and a 1-year high of $12.12. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market cap of $2.16 billion, a P/E ratio of -6.97 and a beta of 2.02. The firm has a fifty day moving average price of $5.64 and a 200 day moving average price of $5.95.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings data on Friday, February 27th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.20). Sell-side analysts predict that NextDecade Corporation will post -0.61 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. TD Cowen reduced their price objective on NextDecade from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. Capital One Financial started coverage on NextDecade in a research note on Friday, February 6th. They issued an “overweight” rating and a $7.00 target price on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of NextDecade in a report on Monday, December 29th. Finally, Morgan Stanley cut their price target on NextDecade from $10.00 to $7.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, NextDecade currently has a consensus rating of “Hold” and a consensus price target of $6.67.

Institutional Trading of NextDecade

Institutional investors have recently added to or reduced their stakes in the stock. Man Investment Partners US LP acquired a new position in NextDecade during the fourth quarter worth $48,879,000. Adage Capital Partners GP L.L.C. grew its stake in NextDecade by 520.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company’s stock valued at $13,810,000 after acquiring an additional 1,300,000 shares during the last quarter. Wolf Hill Capital Management LP grew its stake in NextDecade by 25.9% in the 4th quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company’s stock valued at $19,493,000 after acquiring an additional 761,299 shares during the last quarter. Goldman Sachs Group Inc. increased its position in NextDecade by 77.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,676,336 shares of the company’s stock worth $8,834,000 after buying an additional 732,550 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of NextDecade during the third quarter valued at $4,935,000. Hedge funds and other institutional investors own 66.74% of the company’s stock.

About NextDecade

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.