NextDecade (NASDAQ:NEXT) Shares Down 8.8% – Should You Sell?

NextDecade Corporation (NASDAQ:NEXT)’s stock price fell 8.8% during trading on Friday . The company traded as low as $6.88 and last traded at $6.8750. 3,381,305 shares were traded during mid-day trading, a decline of 21% from the average session volume of 4,306,815 shares. The stock had previously closed at $7.54.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NEXT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NextDecade in a report on Monday, December 29th. Capital One Financial initiated coverage on NextDecade in a research report on Friday, February 6th. They set an “overweight” rating and a $7.00 price target on the stock. TD Cowen decreased their price target on NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Thursday, March 5th. Finally, Morgan Stanley dropped their price target on NextDecade from $10.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.67.

NextDecade Price Performance

The company has a debt-to-equity ratio of 3.70, a current ratio of 0.54 and a quick ratio of 0.54. The company’s 50 day moving average price is $6.43 and its 200 day moving average price is $5.99. The firm has a market capitalization of $1.81 billion, a P/E ratio of -5.85 and a beta of 1.69.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings data on Friday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.20). As a group, sell-side analysts anticipate that NextDecade Corporation will post -0.61 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Pamela K.M. Beall acquired 71,500 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was purchased at an average cost of $7.07 per share, with a total value of $505,505.00. Following the acquisition, the director owned 71,500 shares of the company’s stock, valued at $505,505. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NextDecade

Large investors have recently bought and sold shares of the business. Man Investment Partners US LP bought a new position in NextDecade in the fourth quarter valued at approximately $48,879,000. Adage Capital Partners GP L.L.C. raised its position in shares of NextDecade by 520.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company’s stock valued at $13,810,000 after acquiring an additional 1,300,000 shares during the last quarter. Wolf Hill Capital Management LP lifted its stake in shares of NextDecade by 25.9% in the 4th quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company’s stock valued at $19,493,000 after purchasing an additional 761,299 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of NextDecade by 77.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,676,336 shares of the company’s stock worth $8,834,000 after purchasing an additional 732,550 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of NextDecade in the 3rd quarter worth $4,935,000. 66.74% of the stock is currently owned by institutional investors and hedge funds.

About NextDecade

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.