NextDecade (NASDAQ:NEXT) Hits New 1-Year Low – Time to Sell?

NextDecade Corporation (NASDAQ:NEXT)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $4.75 and last traded at $4.82, with a volume of 4064828 shares traded. The stock had previously closed at $5.05.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Capital One Financial assumed coverage on shares of NextDecade in a research note on Friday. They issued an “overweight” rating and a $7.00 price objective for the company. TD Cowen decreased their target price on NextDecade from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NextDecade in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.00.

NextDecade Trading Up 8.7%

The business has a 50 day moving average price of $5.37 and a 200-day moving average price of $7.08. The firm has a market capitalization of $1.39 billion, a PE ratio of -7.18 and a beta of 1.99. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 3.34.

Insider Activity at NextDecade

In related news, major shareholder Aerospace Co. Ltd. Hanwha acquired 800,000 shares of the firm’s stock in a transaction that occurred 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 owned 26,420,222 shares in the company, valued at approximately $146,368,029.88. This represents a 3.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought a total of 7,177,861 shares of company stock valued at $42,393,247 in the last ninety days. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On NextDecade

A number of institutional investors and hedge funds have recently modified their holdings of NEXT. Westwood Holdings Group Inc. increased its holdings in NextDecade by 6.5% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,255,874 shares of the company’s stock valued at $11,190,000 after acquiring an additional 76,238 shares in the last quarter. ELCO Management Co. LLC grew its position in shares of 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. Geode Capital Management LLC increased its stake in shares of NextDecade by 12.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,541,633 shares of the company’s stock worth $31,559,000 after purchasing an additional 386,613 shares in the last quarter. Catalyst Capital Advisors LLC raised its position in shares of NextDecade by 2.3% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 4,704,427 shares of the company’s stock worth $41,916,000 after purchasing an additional 107,004 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in NextDecade in the 2nd quarter valued at approximately $815,000. Institutional investors and hedge funds own 66.74% of the company’s stock.

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.