NextDecade (NASDAQ:NEXT) Stock Price Down 5.8% – Here’s What Happened

NextDecade Corporation (NASDAQ:NEXT) shares traded down 5.8% on Tuesday . The company traded as low as $7.72 and last traded at $7.5810. 2,546,483 shares were traded during trading, a decline of 38% from the average session volume of 4,105,647 shares. The stock had previously closed at $8.05.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Capital One Financial initiated coverage on NextDecade in a report on Friday, February 6th. They set 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. Weiss Ratings reissued a “sell (e+)” rating on shares of NextDecade in a report on Monday, December 29th. Finally, TD Cowen dropped their target price on NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Thursday, March 5th. One investment 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. According to data from MarketBeat, NextDecade presently has a consensus rating of “Hold” and an average price target of $6.67.

NextDecade Stock Down 6.1%

The company’s 50-day simple moving average is $5.76 and its two-hundred day simple moving average is $5.89. The firm has a market capitalization of $2.00 billion, a P/E ratio of -6.47 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.

NextDecade (NASDAQ:NEXT) last issued its quarterly earnings data on Friday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.20). As a group, research analysts expect that NextDecade Corporation will post -0.61 earnings per share for the current year.

Insider Transactions at NextDecade

In related news, Director Pamela K.M. Beall purchased 71,500 shares of NextDecade stock in a transaction on Monday, March 23rd. The stock was acquired at an average price of $7.07 per share, for a total transaction of $505,505.00. Following the completion of the transaction, the director directly owned 71,500 shares in the company, valued at $505,505. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On NextDecade

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEXT. Comerica Bank lifted its holdings in NextDecade by 88.0% during the first 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. AQR Capital Management LLC bought a new stake in shares of NextDecade during the 1st quarter valued at $386,000. Millennium Management LLC raised its position in shares of NextDecade by 10.1% during the 1st quarter. Millennium Management LLC now owns 1,404,770 shares of the company’s stock valued at $10,929,000 after purchasing an additional 128,568 shares during the period. Caxton Associates LLP purchased a new position in shares of NextDecade during the 1st quarter valued at $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of NextDecade by 13.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 277,307 shares of the company’s stock valued at $2,157,000 after buying an additional 33,941 shares in the last quarter. Institutional investors own 66.74% of the company’s stock.

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.