NextDecade (NASDAQ:NEXT) Shares Up 5.3% – Still a Buy?

NextDecade Corporation (NASDAQ:NEXT) shares traded up 5.3% during trading on Tuesday . The stock traded as high as $9.03 and last traded at $8.7540. 2,405,182 shares were traded during mid-day trading, a decline of 43% from the average session volume of 4,218,520 shares. The stock had previously closed at $8.31.

Analyst Ratings Changes

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

NextDecade Stock Performance

The firm has a fifty day simple moving average of $6.03 and a 200-day simple moving average of $5.93. 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 stock has a market cap of $2.33 billion, a price-to-earnings ratio of -7.50 and a beta of 1.69.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings data on Friday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.20). Analysts forecast that NextDecade Corporation will post -0.61 EPS for the current fiscal year.

Insider Buying and Selling at NextDecade

In related news, Director Pamela K.M. Beall purchased 71,500 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were bought at an average price of $7.07 per share, with a total value of $505,505.00. Following the purchase, the director directly owned 71,500 shares in the company, valued at $505,505. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. US Bancorp DE lifted its stake 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 valued at $26,000 after purchasing an additional 3,873 shares during the period. Raymond James Financial Inc. acquired a new position in shares of NextDecade in the 2nd quarter valued at $36,000. Comerica Bank lifted its stake 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 during the period. Bessemer Group Inc. acquired a new position in shares of NextDecade in the 3rd quarter valued at $29,000. Finally, Federated Hermes Inc. acquired a new position in shares of NextDecade in the 3rd quarter valued at $38,000. Institutional investors and hedge funds 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.