NextDecade (NASDAQ:NEXT) Announces Earnings Results

NextDecade (NASDAQ:NEXT) announced its quarterly earnings data on Monday. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.43, FiscalAI reports.

NextDecade Stock Up 3.1%

NEXT stock opened at $5.39 on Monday. NextDecade has a fifty-two week low of $4.75 and a fifty-two week high of $12.12. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -7.38 and a beta of 2.02. The business’s 50 day moving average price is $5.24 and its two-hundred day moving average price is $6.42. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.64 and a current ratio of 0.64.

Insider Buying and Selling at NextDecade

In other news, major shareholder Aerospace Co. Ltd. Hanwha purchased 800,000 shares of NextDecade stock in a transaction that occurred on Friday, December 12th. The shares were bought at an average cost of $5.54 per share, with a total value of $4,432,000.00. Following the completion of the purchase, the insider directly owned 26,420,222 shares in the company, valued at approximately $146,368,029.88. This trade represents a 3.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders purchased 3,532,496 shares of company stock worth $20,893,914 in the last 90 days. Insiders own 1.80% of the company’s stock.

Institutional Trading of NextDecade

A number of hedge funds and other institutional investors have recently modified their holdings of NEXT. Ironwood Investment Management LLC purchased a new position in NextDecade during the fourth quarter valued at $105,000. SummitTX Capital L.P. bought a new position in shares of NextDecade during the fourth quarter valued at $103,000. Virtu Financial LLC purchased a new position in shares of NextDecade in the 4th quarter worth about $97,000. CIBC Bancorp USA Inc. bought a new position in NextDecade in the 3rd quarter worth about $97,000. Finally, Caxton Associates LLP purchased a new stake in NextDecade during the 3rd quarter valued at about $92,000. 66.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NEXT shares. Capital One Financial started coverage on shares of NextDecade in a report on Friday, February 6th. They set an “overweight” rating and a $7.00 price target for the company. Weiss Ratings restated a “sell (e+)” rating on shares of NextDecade in a research report on Monday, December 29th. Finally, Morgan Stanley cut their target price on NextDecade from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.00.

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.