Insider Buying: NextDecade Co. (NASDAQ:NEXT) Major Shareholder Buys 11,690,909 Shares of Stock

NextDecade Co. (NASDAQ:NEXT) major shareholder Hgc Next Inv Llc acquired 11,690,909 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was acquired at an average price of $7.50 per share, with a total value of $87,681,817.50. Following the acquisition, the insider now owns 17,536,369 shares in the company, valued at $131,522,767.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

NextDecade Stock Up 1.2 %

NEXT stock traded up $0.10 during mid-day trading on Wednesday, reaching $8.11. The company’s stock had a trading volume of 1,980,719 shares, compared to its average volume of 1,345,018. The business’s 50 day moving average price is $7.73 and its 200 day moving average price is $6.35. NextDecade Co. has a 12 month low of $4.01 and a 12 month high of $8.52. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.12.

NextDecade (NASDAQ:NEXT) last issued its earnings results on Thursday, May 9th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.64). Research analysts expect that NextDecade Co. will post -0.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, TD Cowen lifted their target price on shares of NextDecade from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th.

Institutional Investors Weigh In On NextDecade

Institutional investors have recently bought and sold shares of the stock. Amalgamated Bank grew its stake in NextDecade by 138.1% in the 4th quarter. Amalgamated Bank now owns 11,187 shares of the company’s stock valued at $53,000 after purchasing an additional 6,489 shares during the period. Principal Financial Group Inc. bought a new stake in shares of NextDecade in the 1st quarter worth approximately $60,000. Carlton Hofferkamp & Jenks Wealth Management LLC purchased a new position in shares of NextDecade in the 1st quarter valued at approximately $87,000. Banque Pictet & Cie SA bought a new position in NextDecade during the 2nd quarter valued at approximately $108,000. Finally, Arizona State Retirement System increased its holdings in shares of NextDecade by 38.1% in the 4th quarter. Arizona State Retirement System now owns 23,622 shares of the company’s stock worth $113,000 after purchasing an additional 6,523 shares in the last quarter. Institutional investors own 66.74% of the company’s stock.

About NextDecade

NextDecade Corp. is a development company.