NextDecade (NASDAQ:NEXT) Shares Gap Up – Should You Buy?

NextDecade Corporation (NASDAQ:NEXT) shares gapped up before the market opened on Thursday . The stock had previously closed at $7.34, but opened at $7.74. NextDecade shares last traded at $8.1040, with a volume of 1,086,471 shares traded.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NEXT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NextDecade in a research report on Monday, December 29th. Capital One Financial initiated coverage on shares of NextDecade in a research note on Friday, February 6th. They set an “overweight” rating and a $7.00 price objective for the company. Morgan Stanley decreased their price objective on NextDecade from $10.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, February 24th. Finally, TD Cowen lowered their target price on NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.67.

NextDecade Trading Up 6.5%

The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a fifty day moving average price of $5.86 and a 200 day moving average price of $5.91. The company has a market cap of $2.07 billion, a price-to-earnings ratio of -6.73 and a beta of 2.02.

NextDecade (NASDAQ:NEXT) last issued its earnings results on Friday, February 27th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.20). As a group, equities analysts predict that NextDecade Corporation will post -0.61 EPS for the current fiscal year.

Insider Buying and Selling at NextDecade

In other news, Director Pamela K.M. Beall acquired 71,500 shares of the stock in a transaction dated Monday, March 23rd. The shares were bought at an average cost of $7.07 per share, for a total transaction of $505,505.00. Following the purchase, the director directly owned 71,500 shares of the company’s stock, valued at approximately $505,505. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NextDecade

Hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE increased its position in NextDecade by 22,782.4% during the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $26,000 after buying an additional 3,873 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of NextDecade in the second quarter valued at approximately $36,000. Comerica Bank boosted its stake in shares of NextDecade by 88.0% during the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after acquiring an additional 1,900 shares during the period. Bessemer Group Inc. bought a new position in shares of NextDecade during the 3rd quarter worth approximately $29,000. Finally, Federated Hermes Inc. acquired a new position in shares of NextDecade during the 3rd quarter worth approximately $38,000. 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.