Castleark Management LLC Takes $801,000 Position in NextDecade Corporation $NEXT

Castleark Management LLC bought a new stake in shares of NextDecade Corporation (NASDAQ:NEXT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 106,250 shares of the company’s stock, valued at approximately $801,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its holdings in NextDecade by 1.5% during the third quarter. Alliancebernstein L.P. now owns 122,020 shares of the company’s stock valued at $829,000 after purchasing an additional 1,800 shares in the last quarter. Comerica Bank boosted its holdings in NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after buying an additional 1,900 shares during the last quarter. Collective Family Office LLC increased its stake in NextDecade by 13.4% during the 2nd quarter. Collective Family Office LLC now owns 17,194 shares of the company’s stock worth $130,000 after buying an additional 2,033 shares in the last quarter. Inscription Capital LLC raised its holdings in shares of NextDecade by 16.0% during the fourth quarter. Inscription Capital LLC now owns 15,739 shares of the company’s stock valued at $83,000 after acquiring an additional 2,172 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in shares of NextDecade by 0.3% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 644,417 shares of the company’s stock valued at $4,936,000 after acquiring an additional 2,235 shares during the last quarter. Institutional investors and hedge funds own 66.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NEXT shares. Citigroup began coverage on shares of NextDecade in a report on Wednesday, May 13th. They set a “buy” rating and a $11.00 target price for the company. The Goldman Sachs Group assumed coverage on NextDecade in a research report on Wednesday, July 15th. They issued a “neutral” rating and a $8.50 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NextDecade in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.10.

NextDecade Stock Performance

NextDecade stock opened at $7.36 on Thursday. The firm has a 50 day simple moving average of $7.25 and a 200-day simple moving average of $7.20. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -5.41 and a beta of 1.55. NextDecade Corporation has a 1-year low of $4.75 and a 1-year high of $11.27.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.41. On average, analysts expect that NextDecade Corporation will post -2.94 EPS for the current year.

NextDecade 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.