NextDecade (NASDAQ:NEXT) Now Covered by Capital One Financial

Capital One Financial started coverage on shares of NextDecade (NASDAQ:NEXT) in a research report released on Friday, MarketBeat reports. The firm issued an overweight rating and a $7.00 price target on the stock.

Other equities research analysts also recently issued research reports about the stock. TD Cowen cut their target price on shares of NextDecade from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, October 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, NextDecade presently has a consensus rating of “Hold” and a consensus target price of $8.00.

NextDecade Price Performance

NEXT opened at $5.24 on Friday. The company’s 50-day simple moving average is $5.37 and its two-hundred day simple moving average is $7.08. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market capitalization of $1.39 billion, a P/E ratio of -7.18 and a beta of 1.99. NextDecade has a 52-week low of $4.75 and a 52-week high of $12.12.

Insider Buying and Selling at NextDecade

In other NextDecade news, major shareholder Aerospace Co. Ltd. Hanwha bought 851,971 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were bought at an average price of $5.83 per share, with a total value of $4,966,990.93. Following the purchase, the insider owned 25,620,222 shares of the company’s stock, valued at $149,365,894.26. This trade represents a 3.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders bought a total of 7,177,861 shares of company stock valued at $42,393,247 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On NextDecade

Several hedge funds have recently modified their holdings of NEXT. Adage Capital Partners GP L.L.C. grew its stake in NextDecade by 520.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company’s stock valued at $13,810,000 after acquiring an additional 1,300,000 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of NextDecade in the third quarter worth about $4,935,000. Tudor Investment Corp ET AL boosted its stake in NextDecade by 262.8% during the third quarter. Tudor Investment Corp ET AL now owns 912,589 shares of the company’s stock valued at $6,196,000 after buying an additional 661,028 shares during the last quarter. Squarepoint Ops LLC grew its holdings in NextDecade by 425.0% during the 3rd quarter. Squarepoint Ops LLC now owns 790,009 shares of the company’s stock valued at $5,364,000 after buying an additional 639,534 shares in the last quarter. Finally, Citigroup Inc. increased its stake in NextDecade by 1,112.2% in the 3rd quarter. Citigroup Inc. now owns 681,904 shares of the company’s stock worth $4,630,000 after acquiring an additional 625,652 shares during the last quarter. Hedge funds and other 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.