NextDecade (NASDAQ:NEXT) Trading 1.7% Higher – What’s Next?

Shares of NextDecade Corporation (NASDAQ:NEXT) traded up 1.7% during mid-day trading on Friday . The company traded as high as $8.48 and last traded at $8.40. 2,782,766 shares changed hands during mid-day trading, an increase of 16% from the average session volume of 2,404,584 shares. The stock had previously closed at $8.26.

Analyst Ratings Changes

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

NextDecade Stock Up 1.7%

The company has a market capitalization of $2.23 billion, a PE ratio of -6.27 and a beta of 1.60. The company’s 50 day moving average is $8.01 and its two-hundred day moving average is $6.50. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.96.

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

Insiders Place Their Bets

In related news, Director Pamela K.M. Beall bought 71,500 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was bought 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 of the company’s stock, valued at approximately $505,505. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On NextDecade

Institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE grew its stake in shares of NextDecade by 22,782.4% in the 3rd quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $26,000 after buying an additional 3,873 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of NextDecade in the 2nd quarter worth $36,000. Comerica Bank grew its stake in shares of NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after buying an additional 1,900 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of NextDecade by 302.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company’s stock worth $32,000 after buying an additional 3,161 shares in the last quarter. Finally, Bessemer Group Inc. purchased a new position in shares of NextDecade in the 3rd quarter worth $29,000. 66.74% of the stock is owned by hedge funds and other institutional investors.

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.