Investors Purchase High Volume of Call Options on NextDecade (NASDAQ:NEXT)

NextDecade Corporation (NASDAQ:NEXT) was the recipient of unusually large options trading activity on Thursday. Investors acquired 16,976 call options on the company. This represents an increase of 70% compared to the typical volume of 9,980 call options.

NextDecade Trading Up 6.9%

NASDAQ:NEXT opened at $7.85 on Friday. The company has a fifty day moving average of $5.91 and a 200 day moving average of $5.92. NextDecade has a 52 week low of $4.75 and a 52 week high of $12.12. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $2.08 billion, a P/E ratio of -6.71 and a beta of 1.69.

NextDecade (NASDAQ:NEXT) last announced its quarterly earnings results on Friday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.20). On average, research analysts predict that NextDecade will post -0.61 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Activity

In other NextDecade news, Director Pamela K.M. Beall acquired 71,500 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was bought at an average price of $7.07 per share, with a total value of $505,505.00. Following the purchase, the director owned 71,500 shares of the company’s stock, valued at approximately $505,505. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.80% of the company’s stock.

Institutional Trading of NextDecade

Several large investors have recently modified their holdings of the business. US Bancorp DE raised its position in NextDecade by 22,782.4% during 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 last quarter. Bessemer Group Inc. purchased a new stake in NextDecade in the 3rd quarter worth approximately $29,000. Comerica Bank grew its position in shares of NextDecade by 88.0% in the 1st 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. bought a new stake in shares of NextDecade in the 2nd quarter worth approximately $36,000. Finally, Federated Hermes Inc. purchased a new position in shares of NextDecade during the third quarter valued at approximately $38,000. 66.74% of the stock is owned by institutional investors.

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.