Matthew Schatzman Purchases 281,500 Shares of NextDecade (NASDAQ:NEXT) Stock

NextDecade Corporation (NASDAQ:NEXT) CEO Matthew Schatzman acquired 281,500 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were purchased at an average cost of $7.14 per share, for a total transaction of $2,009,910.00. Following the acquisition, the chief executive officer directly owned 5,246,316 shares in the company, valued at $37,458,696.24. This represents a 5.67% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

NextDecade Stock Performance

Shares of NASDAQ NEXT opened at $6.97 on Wednesday. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of -8.94 and a beta of 1.35. NextDecade Corporation has a one year low of $4.59 and a one year high of $12.12. The business has a fifty day simple moving average of $10.34 and a 200 day simple moving average of $8.72. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 2.77.

NextDecade (NASDAQ:NEXT) last announced its quarterly earnings results on Thursday, July 31st. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.23). Sell-side analysts expect that NextDecade Corporation will post -0.61 EPS for the current year.

Institutional Investors Weigh In On NextDecade

A number of institutional investors and hedge funds have recently modified their holdings of NEXT. Adage Capital Partners GP L.L.C. increased its holdings in NextDecade by 520.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company’s stock valued at $13,810,000 after purchasing an additional 1,300,000 shares during the last quarter. Nuveen LLC acquired a new position in shares of NextDecade during the 1st quarter worth about $8,147,000. Brightline Capital Management LLC bought a new stake in shares of NextDecade in the 1st quarter valued at about $7,780,000. Millennium Management LLC increased its stake in shares of NextDecade by 262.2% in the 4th quarter. Millennium Management LLC now owns 1,276,202 shares of the company’s stock valued at $9,840,000 after acquiring an additional 923,898 shares during the last quarter. Finally, Riposte Capital LLC acquired a new stake in shares of NextDecade in the 1st quarter valued at approximately $6,613,000. 66.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Cowen lowered shares of NextDecade from a “buy” rating to a “hold” rating in a research report on Monday. Morgan Stanley reissued an “equal weight” rating and issued a $10.00 target price (down from $15.00) on shares of NextDecade in a report on Friday, September 12th. TD Cowen reaffirmed a “hold” rating and issued a $8.00 price target (down previously from $11.00) on shares of NextDecade in a research note on Monday. Zacks Research upgraded NextDecade from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Seaport Res Ptn raised NextDecade to a “strong-buy” rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.00.

NextDecade Company Profile

NextDecade Corp. is a development company.