Castleark Management LLC Takes $801,000 Position in NextDecade Corporation $NEXT

Castleark Management LLC bought a new position in shares of NextDecade Corporation (NASDAQ:NEXT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 106,250 shares of the company’s stock, valued at approximately $801,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Comerica Bank increased its stake in NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after buying an additional 1,900 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of NextDecade in the first quarter worth about $386,000. Millennium Management LLC grew its position in shares of NextDecade by 10.1% during 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 in the last quarter. Caxton Associates LLP bought a new stake in NextDecade during the 1st quarter valued at approximately $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in NextDecade by 13.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 277,307 shares of the company’s stock valued at $2,157,000 after purchasing an additional 33,941 shares during the period. 66.74% of the stock is owned by hedge funds and other institutional investors.

NextDecade Trading Down 1.5%

NextDecade stock opened at $7.36 on Thursday. The stock has a market cap of $1.96 billion, a PE ratio of -5.41 and a beta of 1.55. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a 50-day moving average of $7.25 and a two-hundred day moving average of $7.20. NextDecade Corporation has a one year low of $4.75 and a one year high of $11.27.

NextDecade (NASDAQ:NEXT) last released its earnings results on Thursday, July 30th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.41. On average, research analysts anticipate that NextDecade Corporation will post -2.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of NextDecade in a report on Wednesday, July 15th. They set a “neutral” rating and a $8.50 price objective for the company. Citigroup began coverage on NextDecade in a report on Wednesday, May 13th. They set a “buy” rating and a $11.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextDecade in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.10.

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.