NextDecade (NASDAQ:NEXT) Trading Down 6.2% – Time to Sell?

NextDecade Corporation (NASDAQ:NEXT)’s share price traded down 6.2% during trading on Monday . The company traded as low as $6.80 and last traded at $6.8790. 1,823,515 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 3,705,520 shares. The stock had previously closed at $7.33.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. TD Cowen decreased their price target on NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday, March 5th. Morgan Stanley reduced their target price on shares of NextDecade from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings restated a “sell (e+)” rating on shares of NextDecade in a report on Monday, December 29th. Finally, Capital One Financial initiated coverage on shares of NextDecade in a research note on Friday, February 6th. They set an “overweight” rating and a $7.00 price target for the company. 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 price target of $6.67.

NextDecade Stock Performance

The firm has a market capitalization of $1.86 billion, a P/E ratio of -6.00 and a beta of 2.02. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a 50-day moving average price of $5.45 and a two-hundred day moving average price of $5.97.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. US Bancorp DE lifted its holdings in shares of NextDecade by 22,782.4% in the 3rd quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $26,000 after buying an additional 3,873 shares during the period. Bessemer Group Inc. purchased a new position in shares of NextDecade during the third quarter valued at $29,000. Comerica Bank raised its holdings in shares of NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after purchasing an additional 1,900 shares in the last quarter. Raymond James Financial Inc. bought a new position in NextDecade in the second quarter worth approximately $36,000. Finally, Federated Hermes Inc. bought a new position in shares of NextDecade in the 3rd quarter worth $38,000. 66.74% of the stock is currently owned by hedge funds and other 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.