NextDecade (NASDAQ:NEXT) Stock Price Up 5.6% – What’s Next?

NextDecade Corporation (NASDAQ:NEXT)’s stock price shot up 5.6% during mid-day trading on Friday . The company traded as high as $5.50 and last traded at $5.5250. 479,137 shares changed hands during trading, a decline of 84% from the average session volume of 3,031,458 shares. The stock had previously closed at $5.23.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NEXT shares. TD Cowen decreased their price target on shares of NextDecade from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, October 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of NextDecade in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, NextDecade has a consensus rating of “Reduce” and a consensus target price of $8.50.

NextDecade Trading Up 3.4%

The stock has a 50-day moving average price of $5.54 and a 200-day moving average price of $7.49. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market cap of $1.43 billion, a P/E ratio of -7.42 and a beta of 1.97.

NextDecade (NASDAQ:NEXT) last issued its earnings results on Thursday, October 30th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.10). On average, equities research analysts expect that NextDecade Corporation will post -0.61 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Aerospace Co. Ltd. Hanwha bought 851,971 shares of the stock in a transaction on Thursday, December 11th. The shares were acquired at an average price of $5.83 per share, for a total transaction of $4,966,990.93. Following the purchase, the insider owned 25,620,222 shares of the company’s stock, valued at approximately $149,365,894.26. The trade was a 3.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have purchased 7,177,861 shares of company stock valued at $42,393,247. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. US Bancorp DE increased its stake in NextDecade by 22,782.4% in the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $26,000 after purchasing an additional 3,873 shares during the period. Bessemer Group Inc. acquired a new position in shares of NextDecade in the 3rd quarter valued at $29,000. Comerica Bank boosted its holdings 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 acquiring an additional 1,900 shares during the last quarter. AlphaQuest LLC raised its position in NextDecade by 102.2% during the second quarter. AlphaQuest LLC now owns 3,961 shares of the company’s stock valued at $35,000 after acquiring an additional 2,002 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of NextDecade during the 2nd quarter worth about $36,000. Hedge funds and other institutional investors 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.