NextDecade (NASDAQ:NEXT) Stock Price Down 9.3% – Here’s What Happened

NextDecade Corporation (NASDAQ:NEXT) shares traded down 9.3% during trading on Monday . The company traded as low as $7.70 and last traded at $7.6150. 596,550 shares were traded during trading, a decline of 84% from the average session volume of 3,815,465 shares. The stock had previously closed at $8.40.

Analyst Ratings Changes

A number of analysts have commented on the stock. Morgan Stanley upped their price target on shares of NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 21st. Citigroup assumed coverage on shares of NextDecade in a research report on Wednesday, May 13th. They set a “buy” rating and a $11.00 price target on the stock. Weiss Ratings raised shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, April 27th. Finally, TD Cowen cut their price target on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NextDecade currently has a consensus rating of “Hold” and an average target price of $8.00.

NextDecade Stock Performance

The stock has a market cap of $2.06 billion, a P/E ratio of -5.81 and a beta of 1.60. The company has a fifty day moving average price of $8.01 and a 200 day moving average price of $6.51. The company has a debt-to-equity ratio of 3.96, a current ratio of 0.40 and a quick ratio of 0.40.

NextDecade (NASDAQ:NEXT) last posted its earnings results on Thursday, April 30th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.15. On average, equities analysts expect that NextDecade Corporation will post -2.16 EPS for the current year.

Insider Transactions at NextDecade

In related news, Director Pamela K.M. Beall purchased 71,500 shares of the business’s stock in a transaction on Monday, March 23rd. The stock was acquired at an average price of $7.07 per share, for a total transaction of $505,505.00. Following the purchase, the director owned 71,500 shares of the company’s stock, valued at approximately $505,505. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On NextDecade

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in NextDecade by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 10,378,992 shares of the company’s stock valued at $70,473,000 after purchasing an additional 52,803 shares during the last quarter. Man Investment Partners US LP purchased a new stake in NextDecade in the 4th quarter valued at about $48,879,000. Catalyst Capital Advisors LLC increased its stake in NextDecade by 12.4% in the 1st quarter. Catalyst Capital Advisors LLC now owns 5,216,592 shares of the company’s stock valued at $39,959,000 after buying an additional 574,080 shares during the last quarter. Wolf Hill Capital Management LP increased its stake in 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 buying an additional 761,299 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in NextDecade by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 3,457,163 shares of the company’s stock valued at $18,222,000 after buying an additional 45,757 shares during the last quarter. Institutional investors and hedge funds own 66.74% of the company’s stock.

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.