JPMorgan Chase & Co. Boosts Holdings in NextDecade Corporation $NEXT

JPMorgan Chase & Co. lifted its position in shares of NextDecade Corporation (NASDAQ:NEXT) by 168.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 394,476 shares of the company’s stock after buying an additional 247,618 shares during the period. JPMorgan Chase & Co. owned approximately 0.15% of NextDecade worth $2,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in NEXT. Tudor Investment Corp ET AL increased its stake in NextDecade by 262.8% during the third quarter. Tudor Investment Corp ET AL now owns 912,589 shares of the company’s stock worth $6,196,000 after acquiring an additional 661,028 shares during the last quarter. Citigroup Inc. raised its position in NextDecade by 1,112.2% in the third quarter. Citigroup Inc. now owns 681,904 shares of the company’s stock valued at $4,630,000 after purchasing an additional 625,652 shares during the period. Jump Financial LLC lifted its stake in shares of NextDecade by 2,212.3% in the 2nd quarter. Jump Financial LLC now owns 492,200 shares of the company’s stock valued at $4,386,000 after purchasing an additional 470,914 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of NextDecade in the 2nd quarter valued at $1,568,000. Finally, Moody Aldrich Partners LLC purchased a new position in shares of NextDecade during the 3rd quarter worth $1,207,000. 66.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other NextDecade news, Director Pamela K.M. Beall purchased 71,500 shares of NextDecade stock in a transaction dated 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 completion of the transaction, the director owned 71,500 shares of the company’s stock, valued at $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 can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

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

NextDecade Stock Performance

Shares of NASDAQ NEXT opened at $7.85 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $2.08 billion, a PE ratio of -6.71 and a beta of 1.69. NextDecade Corporation has a twelve month low of $4.75 and a twelve month high of $12.12. The stock has a fifty day simple moving average of $5.96 and a 200-day simple moving average of $5.92.

NextDecade (NASDAQ:NEXT) last posted its earnings results 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, equities analysts forecast that NextDecade Corporation will post -0.61 earnings per share for the current year.

NextDecade 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.