Insider Buying: NextDecade (NASDAQ:NEXT) Major Shareholder Acquires $938,070.18 in Stock

NextDecade Corporation (NASDAQ:NEXT) major shareholder Aerospace Co. Ltd. Hanwha acquired 151,058 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were acquired at an average price of $6.21 per share, with a total value of $938,070.18. Following the acquisition, the insider owned 23,835,653 shares in the company, valued at $148,019,405.13. This trade represents a 0.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Aerospace Co. Ltd. Hanwha also recently made the following trade(s):

• On Thursday, December 4th, Aerospace Co. Ltd. Hanwha bought 243,959 shares of NextDecade stock. The stock was acquired at an average price of $6.19 per share, for a total transaction of $1,510,106.21.
• On Wednesday, December 3rd, Aerospace Co. Ltd. Hanwha bought 241,946 shares of NextDecade stock. The shares were bought at an average cost of $6.04 per share, with a total value of $1,461,353.84.
• On Tuesday, December 2nd, Aerospace Co. Ltd. Hanwha purchased 310,964 shares of NextDecade stock. The stock was bought at an average price of $5.93 per share, for a total transaction of $1,844,016.52.
• On Monday, December 1st, Aerospace Co. Ltd. Hanwha purchased 205,160 shares of NextDecade stock. The stock was bought at an average cost of $6.05 per share, for a total transaction of $1,241,218.00.
• On Friday, November 28th, Aerospace Co. Ltd. Hanwha acquired 111,084 shares of NextDecade stock. The stock was bought at an average cost of $6.12 per share, with a total value of $679,834.08.
• On Wednesday, November 26th, Aerospace Co. Ltd. Hanwha bought 175,142 shares of NextDecade stock. The shares were bought at an average cost of $5.95 per share, for a total transaction of $1,042,094.90.
• On Tuesday, November 25th, Aerospace Co. Ltd. Hanwha purchased 285,502 shares of NextDecade stock. The shares were bought at an average cost of $5.73 per share, with a total value of $1,635,926.46.
• On Monday, November 24th, Aerospace Co. Ltd. Hanwha purchased 445,109 shares of NextDecade stock. The stock was purchased at an average price of $5.59 per share, with a total value of $2,488,159.31.
• On Friday, November 21st, Aerospace Co. Ltd. Hanwha acquired 419,477 shares of NextDecade stock. The stock was purchased at an average cost of $5.73 per share, for a total transaction of $2,403,603.21.
• On Thursday, November 20th, Aerospace Co. Ltd. Hanwha bought 347,630 shares of NextDecade stock. The shares were purchased at an average cost of $6.02 per share, with a total value of $2,092,732.60.

NextDecade Stock Down 1.3%

Shares of NEXT stock traded down $0.08 during mid-day trading on Friday, hitting $6.15. The stock had a trading volume of 2,170,396 shares, compared to its average volume of 2,746,704. NextDecade Corporation has a 12-month low of $5.16 and a 12-month 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 firm’s 50-day moving average is $6.17 and its two-hundred day moving average is $8.19. The firm has a market capitalization of $1.63 billion, a P/E ratio of -8.42 and a beta of 1.90.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings data on Thursday, October 30th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.10). On average, analysts predict that NextDecade Corporation will post -0.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NEXT has been the subject of several analyst reports. Morgan Stanley reiterated an “equal weight” rating and set a $10.00 price objective (down previously from $15.00) on shares of NextDecade in a report on Friday, September 12th. TD Cowen decreased their price target on NextDecade from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, October 23rd. Zacks Research upgraded NextDecade from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NextDecade in a research report on Monday. Finally, Cowen cut shares of NextDecade from a “buy” rating to a “hold” rating in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.50.

Hedge Funds Weigh In On NextDecade

A number of institutional investors have recently bought and sold shares of NEXT. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of NextDecade by 6.2% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 852,422 shares of the company’s stock valued at $7,595,000 after acquiring an additional 49,695 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in NextDecade by 6.5% during the second quarter. Westwood Holdings Group Inc. now owns 1,255,874 shares of the company’s stock valued at $11,190,000 after purchasing an additional 76,238 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in NextDecade in the first quarter valued at $1,945,000. ELCO Management Co. LLC boosted its holdings in NextDecade by 40.7% in the second quarter. ELCO Management Co. LLC now owns 239,768 shares of the company’s stock valued at $2,136,000 after purchasing an additional 69,300 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in NextDecade during the 1st quarter worth about $374,000. 66.74% of the stock is owned by hedge funds and other institutional investors.

NextDecade Company Profile

NextDecade Corp. is a development company.