NextDecade (NASDAQ:NEXT) Shares Down 7% – Should You Sell?

Shares of NextDecade Corporation (NASDAQ:NEXT) dropped 7% on Friday . The stock traded as low as $7.50 and last traded at $7.4050. 685,784 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 3,629,402 shares. The stock had previously closed at $7.96.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. The Goldman Sachs Group initiated coverage on NextDecade in a research note on Wednesday, July 15th. They issued a “neutral” rating and a $8.50 price objective on the stock. Morgan Stanley increased their price objective on shares of NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 21st. Citigroup began coverage on shares of NextDecade in a research report on Wednesday, May 13th. They issued a “buy” rating and a $11.00 price objective for the company. Finally, Weiss Ratings raised shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NextDecade has an average rating of “Hold” and a consensus price target of $8.10.

NextDecade Stock Down 10.0%

The firm’s 50 day moving average price is $7.98 and its 200-day moving average price is $6.91. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.96. The company has a market cap of $1.90 billion, a P/E ratio of -5.35 and a beta of 1.51.

NextDecade (NASDAQ:NEXT) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.15. As a group, equities research analysts expect that NextDecade Corporation will post -2.15 EPS for the current year.

Hedge Funds Weigh In On NextDecade

Several institutional investors have recently modified their holdings of the business. Man Investment Partners US LP bought a new stake in NextDecade during the 4th quarter worth approximately $48,879,000. Adage Capital Partners GP L.L.C. lifted its stake in NextDecade by 520.0% in the second 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 buying an additional 1,300,000 shares in the last quarter. Wolf Hill Capital Management LP boosted its holdings in shares of NextDecade by 25.9% in the fourth 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 period. Goldman Sachs Group Inc. increased its position in shares of NextDecade by 77.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,676,336 shares of the company’s stock worth $8,834,000 after acquiring an additional 732,550 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of NextDecade during the third quarter worth $4,935,000. Institutional investors 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.