NextDecade (NASDAQ:NEXT) Posts Earnings Results, Beats Expectations By $0.15 EPS

NextDecade (NASDAQ:NEXT) announced its quarterly earnings data on Thursday. The company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.15, Zacks reports.

NextDecade Stock Performance

NASDAQ:NEXT remained flat at $7.83 on Friday. The company’s stock had a trading volume of 5,078,669 shares, compared to its average volume of 3,751,745. NextDecade has a 1 year low of $4.75 and a 1 year high of $12.12. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 3.70. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -6.69 and a beta of 1.65. The stock’s fifty day moving average price is $6.85 and its 200-day moving average price is $6.02.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NEXT. Weiss Ratings raised NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Capital One Financial began coverage on NextDecade in a research note on Friday, February 6th. They set an “overweight” rating and a $7.00 price objective for the company. TD Cowen decreased their price objective on NextDecade from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. Finally, Morgan Stanley lifted their price objective on NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.00.

Insider Transactions at NextDecade

In other NextDecade news, Director Pamela K.M. Beall bought 71,500 shares of the firm’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 completion of the purchase, the director owned 71,500 shares in the company, valued at approximately $505,505. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEXT. US Bancorp DE grew its stake in NextDecade by 22,782.4% in the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock valued at $26,000 after acquiring an additional 3,873 shares during the period. Comerica Bank grew its stake in NextDecade by 88.0% in the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after acquiring an additional 1,900 shares during the period. Raymond James Financial Inc. acquired a new position in NextDecade in the second quarter valued at about $36,000. Aster Capital Management DIFC Ltd grew its stake in NextDecade by 111.2% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 7,201 shares of the company’s stock valued at $38,000 after acquiring an additional 3,792 shares during the period. Finally, Smartleaf Asset Management LLC acquired a new position in NextDecade in the fourth quarter valued at about $41,000. 66.74% of the stock is 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.