NextDecade (NASDAQ:NEXT) Shares Gap Down – Time to Sell?

NextDecade Corporation (NASDAQ:NEXT) shares gapped down prior to trading on Wednesday . The stock had previously closed at $7.66, but opened at $7.33. NextDecade shares last traded at $7.2430, with a volume of 757,302 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Morgan Stanley cut their price objective on shares of NextDecade from $10.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 24th. Capital One Financial started coverage on NextDecade in a research report on Friday, February 6th. They set an “overweight” rating and a $7.00 price target for the company. TD Cowen reduced 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. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.67.

NextDecade Stock Performance

The business has a 50 day moving average of $5.81 and a 200-day moving average of $5.90. The company has a market capitalization of $1.91 billion, a P/E ratio of -6.18 and a beta of 2.02. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.54 and a current ratio of 0.54.

NextDecade (NASDAQ:NEXT) last announced its quarterly earnings results on Friday, February 27th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.20). On average, sell-side analysts predict that NextDecade Corporation will post -0.61 EPS for the current fiscal year.

Insider Buying and Selling at NextDecade

In related news, Director Pamela K.M. Beall bought 71,500 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were acquired at an average cost of $7.07 per share, with a total value of $505,505.00. Following the completion of the purchase, the director directly owned 71,500 shares of the company’s stock, valued at $505,505. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

Institutional Trading of NextDecade

Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE increased its stake in NextDecade by 22,782.4% in the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock valued at $26,000 after acquiring an additional 3,873 shares during the last quarter. Bessemer Group Inc. bought a new position in shares of NextDecade during the 3rd quarter valued at about $29,000. Comerica Bank raised its holdings in shares of NextDecade by 88.0% during the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after buying an additional 1,900 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in NextDecade in the second quarter worth approximately $36,000. Finally, Federated Hermes Inc. purchased a new stake in NextDecade in the third quarter worth approximately $38,000. 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.