NextDecade (NASDAQ:NEXT) Announces Quarterly Earnings Results

NextDecade (NASDAQ:NEXT) released its quarterly earnings data on Friday. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.20), Zacks reports.

NextDecade Stock Down 0.9%

NEXT traded down $0.05 during trading on Tuesday, hitting $5.56. The company had a trading volume of 4,022,041 shares, compared to its average volume of 2,950,759. NextDecade has a 1-year low of $4.75 and a 1-year high of $12.12. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $1.47 billion, a PE ratio of -7.62 and a beta of 2.02. The business has a 50-day moving average of $5.25 and a 200-day moving average of $6.39.

Wall Street Analyst Weigh In

NEXT has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NextDecade in a research report on Monday, December 29th. Capital One Financial assumed coverage on NextDecade in a research report on Friday, February 6th. They set an “overweight” rating and a $7.00 price target on the stock. Finally, Morgan Stanley decreased their price target on NextDecade from $10.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, February 24th. One equities 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 presently has a consensus rating of “Hold” and an average price target of $7.00.

Insider Buying and Selling at NextDecade

In other news, major shareholder Aerospace Co. Ltd. Hanwha bought 800,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was bought at an average price of $5.54 per share, for a total transaction of $4,432,000.00. Following the transaction, the insider owned 26,420,222 shares in the company, valued at $146,368,029.88. The trade was a 3.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have bought 3,221,532 shares of company stock valued at $19,049,898. 1.80% of the stock is currently owned by insiders.

Institutional Trading of NextDecade

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its holdings in NextDecade by 7.7% in the 4th quarter. Pacer Advisors Inc. now owns 266,111 shares of the company’s stock valued at $1,402,000 after acquiring an additional 19,045 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of NextDecade in the 4th quarter worth approximately $97,000. Invesco Ltd. lifted its stake in 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 purchasing an additional 4,008 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in NextDecade by 118.8% during the fourth quarter. Corient Private Wealth LLC now owns 137,078 shares of the company’s stock worth $677,000 after buying an additional 74,425 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in NextDecade by 9.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 55,720 shares of the company’s stock worth $294,000 after buying an additional 4,676 shares in the last quarter. 66.74% of the stock is currently owned by institutional investors and hedge funds.

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.