Wolf Hill Capital Management LP Lowers Position in NextDecade Corporation $NEXT

Wolf Hill Capital Management LP decreased its holdings in shares of NextDecade Corporation (NASDAQ:NEXT) by 49.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,937,558 shares of the company’s stock after selling 2,854,939 shares during the period. NextDecade makes up about 1.8% of Wolf Hill Capital Management LP’s holdings, making the stock its 18th largest holding. Wolf Hill Capital Management LP’s holdings in NextDecade were worth $19,946,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. increased 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 worth $13,810,000 after acquiring an additional 1,300,000 shares during the last quarter. Citigroup Inc. boosted its position in shares of NextDecade by 1,112.2% during the 3rd quarter. Citigroup Inc. now owns 681,904 shares of the company’s stock valued at $4,630,000 after acquiring an additional 625,652 shares during the last quarter. Jump Financial LLC boosted its position in shares of NextDecade by 2,212.3% during the 2nd quarter. Jump Financial LLC now owns 492,200 shares of the company’s stock valued at $4,386,000 after acquiring an additional 470,914 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of NextDecade by 16.7% during the second quarter. Bank of America Corp DE now owns 3,102,352 shares of the company’s stock worth $27,642,000 after purchasing an additional 444,518 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of NextDecade by 12.3% during the second quarter. Geode Capital Management LLC now owns 3,541,633 shares of the company’s stock worth $31,559,000 after purchasing an additional 386,613 shares in the last quarter. 66.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

NextDecade Price Performance

Shares of NEXT traded up $0.05 during midday trading on Friday, reaching $5.87. The stock had a trading volume of 994,493 shares, compared to its average volume of 3,034,050. 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 company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -5.01 and a beta of 2.02. The company’s 50-day moving average is $5.29 and its 200 day moving average is $6.20. NextDecade Corporation has a 12-month low of $4.75 and a 12-month high of $12.12.

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

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.