383,988 Shares in NextDecade Corporation $NEXT Purchased by Man Group plc

Man Group plc purchased a new position in NextDecade Corporation (NASDAQ:NEXT) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 383,988 shares of the company’s stock, valued at approximately $2,895,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Jupiter Topco LLC acquired a new position in shares of NextDecade in the 2nd quarter worth approximately $423,000. Castleark Management LLC acquired a new stake in NextDecade during the second quarter valued at approximately $801,000. Legal & General Group Plc bought a new stake in NextDecade during the second quarter worth approximately $591,000. The Manufacturers Life Insurance Company bought a new stake in NextDecade during the second quarter worth approximately $500,000. Finally, Wolf Hill Capital Management LP acquired a new position in NextDecade in the second quarter worth approximately $2,826,716. 66.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on NEXT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextDecade in a report on Friday, July 24th. Citigroup initiated coverage on NextDecade in a report on Wednesday, May 13th. They issued a “buy” rating and a $11.00 target price on the stock. Finally, The Goldman Sachs Group initiated coverage on NextDecade in a research report on Wednesday, July 15th. They set a “neutral” rating and a $8.50 target price on the stock. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, NextDecade has a consensus rating of “Hold” and an average price target of $8.10.

NextDecade Stock Performance

Shares of NEXT opened at $7.54 on Tuesday. The company has a 50-day moving average of $7.26 and a two-hundred day moving average of $7.25. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -5.54 and a beta of 1.55. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.37 and a quick ratio of 0.37. NextDecade Corporation has a one year low of $4.75 and a one year high of $11.27.

NextDecade (NASDAQ:NEXT) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.41. On average, equities research analysts expect that NextDecade Corporation will post -2.94 earnings per share for the current year.

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.