Insider Buying: NextDecade (NASDAQ:NEXT) Director Buys $505,505.00 in Stock

NextDecade Corporation (NASDAQ:NEXT) Director Pamela K.M. Beall bought 71,500 shares of NextDecade stock in a transaction dated Monday, March 23rd. The stock was 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 trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

NextDecade Stock Performance

Shares of NextDecade stock opened at $8.13 on Friday. The business has a 50-day simple moving average of $5.70 and a 200 day simple moving average of $5.93. NextDecade Corporation has a one year low of $4.75 and a one year high of $12.12. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -6.95 and a beta of 2.02.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL lifted its stake in NextDecade by 262.8% during the 3rd quarter. Tudor Investment Corp ET AL now owns 912,589 shares of the company’s stock valued at $6,196,000 after acquiring an additional 661,028 shares in the last quarter. Citigroup Inc. grew its stake in shares of 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of NextDecade by 12.3% in the 2nd quarter. Geode Capital Management LLC now owns 3,541,633 shares of the company’s stock worth $31,559,000 after acquiring an additional 386,613 shares in the last quarter. Jump Financial LLC raised its holdings in shares of NextDecade by 2,212.3% in the second quarter. Jump Financial LLC now owns 492,200 shares of the company’s stock valued at $4,386,000 after purchasing an additional 470,914 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of NextDecade in the second quarter valued at about $1,568,000. Institutional investors own 66.74% of the company’s stock.

Analyst Upgrades and Downgrades

NEXT has been the subject of several research reports. Capital One Financial started coverage on shares of NextDecade in a research report on Friday, February 6th. They issued an “overweight” rating and a $7.00 price target for the company. Weiss Ratings restated a “sell (e+)” rating on shares of NextDecade in a report on Monday, December 29th. TD Cowen dropped their price objective on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Thursday, March 5th. Finally, Morgan Stanley decreased their target price on shares of NextDecade from $10.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 24th. One 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, the stock has an average rating of “Hold” and an average price target of $6.67.

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.