Pamela K.M. Beall Acquires 71,500 Shares of NextDecade (NASDAQ:NEXT) Stock

NextDecade Corporation (NASDAQ:NEXT) Director Pamela K.M. Beall acquired 71,500 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were acquired at an average price of $7.07 per share, for a total transaction of $505,505.00. Following the completion of the purchase, the director owned 71,500 shares of the company’s stock, valued at approximately $505,505. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

NextDecade Stock Up 1.5%

NEXT stock traded up $0.11 during trading on Wednesday, hitting $7.34. 4,913,717 shares of the company’s stock traded hands, compared to its average volume of 3,899,750. The firm has a market capitalization of $1.94 billion, a P/E ratio of -6.27 and a beta of 2.02. NextDecade Corporation has a 1 year low of $4.75 and a 1 year high of $12.12. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 3.70. The business has a fifty day simple moving average of $5.54 and a two-hundred 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 for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.20). Sell-side analysts anticipate that NextDecade Corporation will post -0.61 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. TD Cowen decreased their price objective on NextDecade from $7.00 to $6.00 and set a “hold” rating for the company in a research note 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 for the company in a report on Tuesday, February 24th. Capital One Financial started coverage on shares of NextDecade in a report on Friday, February 6th. They issued an “overweight” rating and a $7.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NextDecade in a research report on Monday, December 29th. One 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.67.

Institutional Trading of NextDecade

Institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its stake in NextDecade by 433.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 18,259 shares of the company’s stock valued at $96,000 after buying an additional 14,836 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of NextDecade by 7.7% during the fourth quarter. Pacer Advisors Inc. now owns 266,111 shares of the company’s stock worth $1,402,000 after acquiring an additional 19,045 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of NextDecade during the fourth quarter valued at about $97,000. Invesco Ltd. increased its holdings in shares of NextDecade by 5.1% during the fourth quarter. Invesco Ltd. now owns 82,717 shares of the company’s stock valued at $436,000 after acquiring an additional 4,008 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of NextDecade by 118.8% in the 4th quarter. Corient Private Wealth LLC now owns 137,078 shares of the company’s stock valued at $677,000 after purchasing an additional 74,425 shares during the last quarter. Institutional investors and hedge funds own 66.74% of the company’s stock.

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.