NextDecade (NASDAQ:NEXT) Shares Gap Down – What’s Next?

NextDecade Corporation (NASDAQ:NEXT) gapped down before the market opened on Wednesday . The stock had previously closed at $7.89, but opened at $7.34. NextDecade shares last traded at $7.4480, with a volume of 435,228 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. TD Cowen lowered their price objective on NextDecade from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. Morgan Stanley boosted their target price on NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 21st. Capital One Financial started coverage on NextDecade in a report on Friday, February 6th. They set an “overweight” rating and a $7.00 price target on the stock. 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 analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, NextDecade currently has an average rating of “Hold” and an average target price of $7.00.

NextDecade Price Performance

The company has a market capitalization of $1.98 billion, a P/E ratio of -5.58 and a beta of 1.65. The firm’s fifty day moving average is $6.90 and its 200 day moving average is $6.03. The company has a debt-to-equity ratio of 3.96, a quick ratio of 0.54 and a current ratio of 0.40.

NextDecade (NASDAQ:NEXT) last announced its quarterly earnings data on Friday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.20). As a group, analysts predict that NextDecade Corporation will post -2.16 earnings per share for the current fiscal year.

Insider Activity

In other NextDecade news, Director Pamela K.M. Beall purchased 71,500 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The stock was purchased at an average cost of $7.07 per share, with a total value of $505,505.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of NextDecade

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of NextDecade by 0.5% during the third quarter. Vanguard Group Inc. now owns 10,378,992 shares of the company’s stock worth $70,473,000 after purchasing an additional 52,803 shares during the last quarter. Man Investment Partners US LP bought a new position in shares of NextDecade in the fourth quarter worth 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 worth $39,959,000 after buying an additional 574,080 shares during the period. 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 worth $19,493,000 after buying an additional 761,299 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in NextDecade by 1.3% during 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 in the last quarter. Hedge funds and other institutional investors own 66.74% of the company’s stock.

NextDecade Company 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.