VIRGINIA RETIREMENT SYSTEMS ET Al Cuts Stake in NextDecade Corporation $NEXT

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its stake in shares of NextDecade Corporation (NASDAQ:NEXT) by 64.7% in the fourth quarter, Holdings Channel reports. The firm owned 46,714 shares of the company’s stock after selling 85,450 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in NextDecade were worth $246,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Tudor Investment Corp ET AL increased its stake in shares of NextDecade by 262.8% during the third quarter. Tudor Investment Corp ET AL now owns 912,589 shares of the company’s stock worth $6,196,000 after purchasing an additional 661,028 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of NextDecade by 168.6% during the third quarter. JPMorgan Chase & Co. now owns 394,476 shares of the company’s stock worth $2,678,000 after purchasing an additional 247,618 shares in the last quarter. Citigroup Inc. grew its stake in NextDecade by 1,112.2% during the 3rd quarter. Citigroup Inc. now owns 681,904 shares of the company’s stock valued at $4,630,000 after acquiring an additional 625,652 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in NextDecade by 21.2% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 642,182 shares of the company’s stock valued at $3,384,000 after acquiring an additional 112,300 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC purchased a new stake in NextDecade during the 4th quarter valued at about $613,000. Hedge funds and other institutional investors own 66.74% of the company’s stock.

NextDecade Stock Performance

NASDAQ:NEXT opened at $8.97 on Wednesday. The company has a debt-to-equity ratio of 3.96, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -6.69 and a beta of 1.65. The company’s 50-day moving average is $7.47 and its two-hundred day moving average is $6.20. NextDecade Corporation has a 1-year low of $4.75 and a 1-year high of $12.12.

NextDecade (NASDAQ:NEXT) last posted its earnings results on Friday, February 27th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.20). Analysts forecast that NextDecade Corporation will post -2.16 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on NEXT. Morgan Stanley upped their price objective on shares of NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 21st. Capital One Financial began coverage on shares of NextDecade in a research note on Friday, February 6th. They set an “overweight” rating and a $7.00 price objective for the company. Weiss Ratings raised shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, April 27th. Citigroup began coverage on shares of NextDecade in a research note on Wednesday, May 13th. They set a “buy” rating and a $11.00 price objective for the company. Finally, TD Cowen dropped their price objective on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.00.

Insiders Place Their Bets

In other news, Director Pamela K.M. Beall bought 71,500 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were bought at an average cost of $7.07 per share, for a total transaction of $505,505.00. Following the acquisition, the director directly 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 SEC, which is available at the SEC website. 1.80% of the stock is owned by insiders.

NextDecade 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.