NextDecade (NASDAQ:NEXT) Stock Price Down 4.6% – Time to Sell?

Shares of NextDecade Corporation (NASDAQ:NEXT) traded down 4.6% during trading on Tuesday . The company traded as low as $5.17 and last traded at $5.1330. 231,528 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 1,403,640 shares. The stock had previously closed at $5.38.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. TD Cowen decreased their price target on NextDecade from $8.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, October 23rd. Morgan Stanley restated an “equal weight” rating and issued a $10.00 target price (down from $15.00) on shares of NextDecade in a research note on Friday, September 12th. Cowen downgraded shares of NextDecade from a “buy” rating to a “hold” rating in a research note on Monday, September 15th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of NextDecade in a report on Monday, December 29th. One investment 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $8.50.

NextDecade Trading Up 3.8%

The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 3.34. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -7.14 and a beta of 1.97. The firm has a 50-day moving average price of $5.72 and a 200 day moving average price of $7.77.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings data on Thursday, October 30th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.10). As a group, sell-side analysts forecast that NextDecade Corporation will post -0.61 EPS for the current year.

Insiders Place Their Bets

In other NextDecade news, major shareholder Aerospace Co. Ltd. Hanwha bought 800,000 shares of the business’s stock in a transaction on Friday, December 12th. The shares were purchased at an average price of $5.54 per share, with a total value of $4,432,000.00. Following the completion of the acquisition, the insider directly owned 26,420,222 shares of the company’s stock, valued at approximately $146,368,029.88. The trade was a 3.12% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have bought a total of 7,177,861 shares of company stock worth $42,393,247 in the last quarter. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of NextDecade

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Fort Washington Investment Advisors Inc. OH grew its position in NextDecade by 6.2% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 852,422 shares of the company’s stock worth $7,595,000 after buying an additional 49,695 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in shares of NextDecade by 6.5% in the 2nd 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. ELCO Management Co. LLC increased its stake in NextDecade by 40.7% in the 2nd quarter. ELCO Management Co. LLC now owns 239,768 shares of the company’s stock worth $2,136,000 after purchasing an additional 69,300 shares in the last quarter. Geode Capital Management LLC lifted its stake in NextDecade by 12.3% during the second quarter. Geode Capital Management LLC now owns 3,541,633 shares of the company’s stock valued at $31,559,000 after buying an additional 386,613 shares in the last quarter. Finally, Catalyst Capital Advisors LLC boosted its holdings in shares of NextDecade by 2.3% in the second quarter. Catalyst Capital Advisors LLC now owns 4,704,427 shares of the company’s stock worth $41,916,000 after buying an additional 107,004 shares during the period. 66.74% of the stock is currently owned by institutional investors and hedge funds.

NextDecade Company 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.