NextDecade Corporation (NASDAQ:NEXT – Get Free Report) gapped up before the market opened on Monday following a better than expected earnings announcement. The stock had previously closed at $5.39, but opened at $6.00. NextDecade shares last traded at $5.5450, with a volume of 2,129,789 shares traded.
The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.43.
Analysts Set New Price Targets
Several analysts have issued reports on NEXT shares. 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 price target on the stock. Morgan Stanley reduced their price objective on NextDecade from $10.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 24th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.00.
Insiders Place Their Bets
In other NextDecade news, major shareholder Aerospace Co. Ltd. Hanwha acquired 800,000 shares of the business’s stock in a transaction on Friday, December 12th. The stock was purchased at an average price of $5.54 per share, for a total transaction of $4,432,000.00. Following the transaction, the insider owned 26,420,222 shares in the company, valued at $146,368,029.88. This trade represents a 3.12% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders acquired 3,532,496 shares of company stock worth $20,893,914. Company insiders own 1.80% of the company’s stock.
Institutional Trading of NextDecade
Several hedge funds have recently modified their holdings of the stock. Westwood Holdings Group Inc. raised its stake in NextDecade by 6.5% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,255,874 shares of the company’s stock worth $11,190,000 after buying an additional 76,238 shares during the period. Geode Capital Management LLC lifted its holdings in shares of NextDecade by 12.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,541,633 shares of the company’s stock valued at $31,559,000 after purchasing an additional 386,613 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of NextDecade in the 2nd quarter valued at approximately $815,000. Jump Financial LLC grew its position 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 period. Finally, Quantbot Technologies LP bought a new stake in NextDecade during the 2nd quarter worth approximately $1,568,000. 66.74% of the stock is owned by institutional investors.
NextDecade Stock Up 2.5%
The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -7.59 and a beta of 2.02. The firm’s fifty day simple moving average is $5.24 and its 200 day simple moving average is $6.42.
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.
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