NextDecade (NASDAQ:NEXT) Announces Earnings Results, Beats Estimates By $0.43 EPS

NextDecade (NASDAQ:NEXT) issued its earnings results on Monday. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.43, FiscalAI reports.

NextDecade Stock Up 3.1%

NEXT stock opened at $5.39 on Monday. 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 stock has a market capitalization of $1.43 billion, a P/E ratio of -7.38 and a beta of 2.02. NextDecade has a fifty-two week low of $4.75 and a fifty-two week high of $12.12. The business has a 50-day moving average of $5.24 and a 200-day moving average of $6.42.

Analyst Ratings Changes

Several brokerages have recently issued reports on NEXT. Morgan Stanley decreased their price target 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. Weiss Ratings reiterated a “sell (e+)” rating on shares of NextDecade in a report on Monday, December 29th. Finally, Capital One Financial began coverage on NextDecade in a report on Friday, February 6th. They issued 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 issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.00.

Insider Buying and Selling

In other news, major shareholder Aerospace Co. Ltd. Hanwha purchased 800,000 shares of NextDecade stock in a transaction on Friday, December 12th. The stock was purchased at an average price of $5.54 per share, with a total value of $4,432,000.00. Following the transaction, the insider directly owned 26,420,222 shares in the company, valued at $146,368,029.88. The trade was a 3.12% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders purchased 3,532,496 shares of company stock valued at $20,893,914. Insiders own 1.80% of the company’s stock.

Institutional Trading of NextDecade

Hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE raised its stake in NextDecade by 22,782.4% in the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock valued at $26,000 after buying an additional 3,873 shares during the period. Comerica Bank increased its holdings in shares of NextDecade by 88.0% during the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after acquiring an additional 1,900 shares during the last quarter. Raymond James Financial Inc. bought a new stake in NextDecade in the 2nd quarter valued at $36,000. Aster Capital Management DIFC Ltd lifted its holdings in NextDecade by 111.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 7,201 shares of the company’s stock valued at $38,000 after purchasing an additional 3,792 shares during the last quarter. Finally, Smartleaf Asset Management LLC acquired a new stake in NextDecade during the 4th quarter valued at $41,000. 66.74% of the stock is currently owned by institutional investors and hedge funds.

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.