NextDecade (NASDAQ:NEXT) Stock Price Down 9.3% – Here’s What Happened

NextDecade Corporation (NASDAQ:NEXT) shares traded down 9.3% during trading on Monday . The stock traded as low as $7.70 and last traded at $7.6150. 596,550 shares changed hands during trading, a decline of 84% from the average session volume of 3,815,465 shares. The stock had previously closed at $8.40.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Weiss Ratings raised shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th. TD Cowen lowered their target price on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday, March 5th. Citigroup assumed coverage on shares of NextDecade in a report on Wednesday, May 13th. They set a “buy” rating and a $11.00 target price on the stock. Finally, Morgan Stanley raised their target price on shares of NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given 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 target price of $8.00.

NextDecade Trading Down 7.3%

The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.96. The firm has a 50-day moving average of $8.01 and a two-hundred day moving average of $6.51. The firm has a market capitalization of $2.06 billion, a P/E ratio of -5.81 and a beta of 1.60.

NextDecade (NASDAQ:NEXT) last released its earnings results on Thursday, April 30th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.15. On average, analysts anticipate that NextDecade Corporation will post -2.16 EPS for the current year.

Insider Buying and Selling at NextDecade

In related news, Director Pamela K.M. Beall bought 71,500 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were purchased at an average price of $7.07 per share, with a total value of $505,505.00. Following the completion of the purchase, the director owned 71,500 shares in the company, valued at $505,505. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.60% 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. Comerica Bank grew its stake in shares of NextDecade by 88.0% during the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after buying an additional 1,900 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of NextDecade in the first quarter worth $386,000. Millennium Management LLC grew its stake in shares of NextDecade by 10.1% in the first quarter. Millennium Management LLC now owns 1,404,770 shares of the company’s stock worth $10,929,000 after purchasing an additional 128,568 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of NextDecade in the first quarter worth $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of NextDecade by 13.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 277,307 shares of the company’s stock worth $2,157,000 after acquiring an additional 33,941 shares during the period. Institutional investors own 66.74% of the company’s stock.

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.