NextDecade (NASDAQ:NEXT) Stock Price Up 6.1% – Here’s What Happened

NextDecade Corporation (NASDAQ:NEXT)’s stock price rose 6.1% on Friday . The stock traded as high as $6.78 and last traded at $6.49. Approximately 2,686,001 shares were traded during mid-day trading, a decline of 1% from the average daily volume of 2,702,730 shares. The stock had previously closed at $6.11.

Analyst Ratings Changes

Several analysts recently commented on NEXT shares. TD Cowen reiterated a “hold” rating and issued a $8.00 price objective (down previously from $11.00) on shares of NextDecade in a research note on Monday, September 15th. Seaport Res Ptn upgraded shares of NextDecade to a “strong-buy” rating in a research note on Friday, July 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextDecade in a research note on Wednesday, October 8th. Cowen cut shares of NextDecade from a “buy” rating to a “hold” rating in a research note on Monday, September 15th. Finally, Zacks Research upgraded shares of NextDecade from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, NextDecade currently has a consensus rating of “Hold” and a consensus price target of $9.00.

NextDecade Trading Down 0.2%

The company has a debt-to-equity ratio of 2.77, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -7.82 and a beta of 1.78. The business’s 50-day simple moving average is $8.33 and its 200-day simple moving average is $8.52.

NextDecade (NASDAQ:NEXT) last announced its earnings results on Thursday, July 31st. The company reported ($0.23) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.23). Research analysts predict that NextDecade Corporation will post -0.61 earnings per share for the current fiscal year.

Insider Buying and Selling at NextDecade

In other news, Director Edward Andrew Jr. Scoggins acquired 15,000 shares of the business’s stock in a transaction dated Thursday, September 18th. The stock was acquired at an average price of $6.46 per share, with a total value of $96,900.00. Following the completion of the transaction, the director directly owned 200,070 shares in the company, valued at approximately $1,292,452.20. This represents a 8.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bardin Hill Investment Partner acquired 357,021 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was purchased at an average cost of $6.98 per share, with a total value of $2,492,006.58. Following the transaction, the director owned 9,274,894 shares of the company’s stock, valued at approximately $64,738,760.12. The trade was a 4.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 1,654,850 shares of company stock worth $11,611,592. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NextDecade

A number of institutional investors have recently modified their holdings of NEXT. PNC Financial Services Group Inc. raised its position in shares of NextDecade by 137.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,261 shares of the company’s stock valued at $25,000 after buying an additional 1,886 shares during the last quarter. Comerica Bank raised its position in shares of NextDecade by 88.0% in the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after buying an additional 1,900 shares during the last quarter. AlphaQuest LLC raised its position in shares of NextDecade by 102.2% in the second quarter. AlphaQuest LLC now owns 3,961 shares of the company’s stock valued at $35,000 after buying an additional 2,002 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of NextDecade in the second quarter valued at approximately $36,000. Finally, Farther Finance Advisors LLC raised its position in shares of NextDecade by 21,395.5% in the second quarter. Farther Finance Advisors LLC now owns 4,729 shares of the company’s stock valued at $42,000 after buying an additional 4,707 shares during the last quarter. Institutional investors and hedge funds own 66.74% of the company’s stock.

About NextDecade

NextDecade Corp. is a development company.