NextDecade (NASDAQ:NEXT) Reaches New 52-Week Low – Time to Sell?

NextDecade Corporation (NASDAQ:NEXT) reached a new 52-week low during trading on Wednesday . The stock traded as low as $4.76 and last traded at $4.7850, with a volume of 2172407 shares trading hands. The stock had previously closed at $4.86.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NEXT. TD Cowen lowered their target price on shares of NextDecade from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, October 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $8.50.

NextDecade Stock Performance

The firm has a fifty day moving average price of $5.52 and a 200 day moving average price of $7.46. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 3.34. The firm has a market cap of $1.40 billion, a PE ratio of -7.22 and a beta of 1.97.

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

Insider Activity

In other news, major shareholder Aerospace Co. Ltd. Hanwha purchased 800,000 shares of NextDecade stock in a transaction dated Friday, December 12th. The shares were purchased at an average price of $5.54 per share, with a total value of $4,432,000.00. Following the transaction, the insider owned 26,420,222 shares in the company, valued at $146,368,029.88. This represents a 3.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have purchased 7,177,861 shares of company stock worth $42,393,247. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE raised its position 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 purchasing an additional 3,873 shares during the period. Bessemer Group Inc. acquired a new stake in shares of NextDecade in the third quarter valued at $29,000. Comerica Bank grew its position in NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after acquiring an additional 1,900 shares in the last quarter. AlphaQuest LLC increased its stake in NextDecade by 102.2% during the second quarter. AlphaQuest LLC now owns 3,961 shares of the company’s stock worth $35,000 after purchasing an additional 2,002 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of NextDecade during the second quarter worth about $36,000. 66.74% of the stock is currently owned by hedge funds and other institutional investors.

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.