Polar Asset Management Partners Inc. Makes New Investment in Nextdecade Corp (NASDAQ:NEXT)

Polar Asset Management Partners Inc. purchased a new position in Nextdecade Corp (NASDAQ:NEXT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 80,000 shares of the company’s stock, valued at approximately $506,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. raised its position in Nextdecade by 60.4% in the second quarter. BlackRock Inc. now owns 554,639 shares of the company’s stock worth $3,505,000 after acquiring an additional 208,804 shares during the period. Northern Trust Corp raised its position in Nextdecade by 5.0% in the second quarter. Northern Trust Corp now owns 86,717 shares of the company’s stock worth $548,000 after acquiring an additional 4,147 shares during the period. Charles Schwab Investment Management Inc. raised its position in Nextdecade by 38.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 33,210 shares of the company’s stock worth $210,000 after acquiring an additional 9,206 shares during the period. Bank of New York Mellon Corp raised its position in Nextdecade by 36.5% in the second quarter. Bank of New York Mellon Corp now owns 29,655 shares of the company’s stock worth $187,000 after acquiring an additional 7,926 shares during the period. Finally, Gradient Investments LLC bought a new position in Nextdecade in the second quarter worth approximately $63,000. Institutional investors and hedge funds own 85.21% of the company’s stock.

Several research firms have weighed in on NEXT. Zacks Investment Research downgraded shares of Nextdecade from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. Evercore ISI began coverage on shares of Nextdecade in a research report on Tuesday. They issued an “outperform” rating and a $11.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $7.50.

Shares of NEXT stock traded down $0.03 on Thursday, hitting $6.43. 2,795 shares of the stock traded hands, compared to its average volume of 29,100. The firm has a market cap of $690.88 million, a price-to-earnings ratio of -15.68 and a beta of -0.26. Nextdecade Corp has a 52 week low of $3.15 and a 52 week high of $6.71. The firm has a 50 day simple moving average of $5.22 and a two-hundred day simple moving average of $5.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.84 and a quick ratio of 6.84.

Nextdecade (NASDAQ:NEXT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.08. Sell-side analysts forecast that Nextdecade Corp will post -0.48 EPS for the current year.

Nextdecade Company Profile

NextDecade Corporation, a liquefied natural gas (LNG) development company, engages in the development of LNG export projects and associated pipelines in the State of Texas. It intends to develop a portfolio of LNG projects, including Rio Grande LNG export facility, which has a liquefaction capacity of 27 million tons of LNG per annum located in Brownsville, Texas; and the 137-mile Rio Bravo Pipeline that transports natural gas from the Agua Dulce supply area to Rio Grande LNG.

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Institutional Ownership by Quarter for Nextdecade (NASDAQ:NEXT)

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