Insider Buying: NextDecade (NASDAQ:NEXT) Major Shareholder Buys 600,000 Shares of Stock

NextDecade Corporation (NASDAQ:NEXT) major shareholder Aerospace Co. Ltd. Hanwha purchased 600,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was bought at an average cost of $6.05 per share, with a total value of $3,630,000.00. Following the completion of the purchase, the insider owned 24,768,251 shares of the company’s stock, valued at $149,847,918.55. This represents a 2.48% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Aerospace Co. Ltd. Hanwha also recently made the following trade(s):

• On Tuesday, December 9th, Aerospace Co. Ltd. Hanwha bought 293,131 shares of NextDecade stock. The shares were purchased at an average price of $6.36 per share, for a total transaction of $1,864,313.16.
• On Monday, December 8th, Aerospace Co. Ltd. Hanwha bought 39,467 shares of NextDecade stock. The stock was purchased at an average price of $6.26 per share, with a total value of $247,063.42.
• On Friday, December 5th, Aerospace Co. Ltd. Hanwha purchased 151,058 shares of NextDecade stock. The shares were purchased at an average price of $6.21 per share, for a total transaction of $938,070.18.
• On Thursday, December 4th, Aerospace Co. Ltd. Hanwha purchased 243,959 shares of NextDecade stock. The stock was purchased at an average cost of $6.19 per share, for a total transaction of $1,510,106.21.
• On Wednesday, December 3rd, Aerospace Co. Ltd. Hanwha acquired 241,946 shares of NextDecade stock. The shares were purchased at an average cost of $6.04 per share, with a total value of $1,461,353.84.
• On Tuesday, December 2nd, Aerospace Co. Ltd. Hanwha bought 310,964 shares of NextDecade stock. The shares were acquired at an average price of $5.93 per share, for a total transaction of $1,844,016.52.
• On Monday, December 1st, Aerospace Co. Ltd. Hanwha bought 205,160 shares of NextDecade stock. The stock was acquired at an average cost of $6.05 per share, for a total transaction of $1,241,218.00.
• On Friday, November 28th, Aerospace Co. Ltd. Hanwha purchased 111,084 shares of NextDecade stock. The shares were acquired at an average cost of $6.12 per share, with a total value of $679,834.08.
• On Wednesday, November 26th, Aerospace Co. Ltd. Hanwha acquired 175,142 shares of NextDecade stock. The shares were acquired at an average cost of $5.95 per share, for a total transaction of $1,042,094.90.
• On Tuesday, November 25th, Aerospace Co. Ltd. Hanwha acquired 285,502 shares of NextDecade stock. The stock was acquired at an average price of $5.73 per share, for a total transaction of $1,635,926.46.

NextDecade Stock Down 7.7%

Shares of NASDAQ NEXT traded down $0.49 on Wednesday, reaching $5.88. 4,827,333 shares of the company’s stock traded hands, compared to its average volume of 2,641,974. The business’s 50 day simple moving average is $6.12 and its two-hundred day simple moving average is $8.16. NextDecade Corporation has a 12 month low of $5.16 and a 12 month high of $12.12. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -8.05 and a beta of 1.90. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 3.34.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.10). As a group, equities research analysts forecast that NextDecade Corporation will post -0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On NextDecade

Institutional investors and hedge funds have recently modified their holdings of the company. Fort Washington Investment Advisors Inc. OH raised its position in shares of NextDecade by 6.2% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 852,422 shares of the company’s stock valued at $7,595,000 after buying an additional 49,695 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in NextDecade by 6.5% during the second quarter. Westwood Holdings Group Inc. now owns 1,255,874 shares of the company’s stock valued at $11,190,000 after acquiring an additional 76,238 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in NextDecade in the 1st quarter valued at $1,945,000. ELCO Management Co. LLC lifted its stake in NextDecade by 40.7% in the 2nd quarter. ELCO Management Co. LLC now owns 239,768 shares of the company’s stock worth $2,136,000 after purchasing an additional 69,300 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of NextDecade during the 1st quarter valued at about $374,000. 66.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NEXT. TD Cowen reduced their price objective on shares of NextDecade from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, October 23rd. Cowen cut shares of NextDecade from a “buy” rating to a “hold” rating in a report on Monday, September 15th. Weiss Ratings restated a “sell (e+)” rating on shares of NextDecade in a report on Monday. Zacks Research raised NextDecade from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $10.00 target price (down previously from $15.00) on shares of NextDecade in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, NextDecade currently has a consensus rating of “Hold” and an average target price of $8.50.

About NextDecade

NextDecade Corp. is a development company.