NextDecade (NASDAQ:NEXT) Trading 5.3% Higher – Still a Buy?

Shares of NextDecade Corporation (NASDAQ:NEXT) traded up 5.3% during trading on Tuesday . The company traded as high as $9.03 and last traded at $8.7540. 2,405,182 shares changed hands during trading, a decline of 43% from the average session volume of 4,218,520 shares. The stock had previously closed at $8.31.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Capital One Financial assumed coverage on shares of NextDecade in a research note on Friday, February 6th. They set an “overweight” rating and a $7.00 price target on the stock. TD Cowen dropped their price target 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. Weiss Ratings reiterated a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. Finally, Morgan Stanley lowered their target price on shares of NextDecade from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.67.

NextDecade Stock Down 7.6%

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 market capitalization of $2.14 billion, a PE ratio of -6.91 and a beta of 1.69. The company’s 50 day simple moving average is $6.15 and its 200-day simple moving average is $5.96.

NextDecade (NASDAQ:NEXT) last posted its 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, analysts forecast that NextDecade Corporation will post -0.61 EPS for the current fiscal year.

Insider Transactions at NextDecade

In other news, Director Pamela K.M. Beall bought 71,500 shares of the stock in a transaction on Monday, March 23rd. The shares were acquired 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 $505,505. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NextDecade

Institutional investors have recently made changes to their positions in the stock. Tudor Investment Corp ET AL increased its holdings in shares of NextDecade by 262.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 912,589 shares of the company’s stock worth $6,196,000 after buying an additional 661,028 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of NextDecade by 168.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 394,476 shares of the company’s stock worth $2,678,000 after buying an additional 247,618 shares during the last quarter. Citigroup Inc. increased its holdings 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 buying an additional 625,652 shares during the last quarter. Jump Financial LLC increased its holdings in shares of NextDecade by 2,212.3% in the 2nd quarter. Jump Financial LLC now owns 492,200 shares of the company’s stock worth $4,386,000 after buying an additional 470,914 shares during the last quarter. Finally, Moody Aldrich Partners LLC bought a new position in shares of NextDecade during the 3rd quarter valued at $1,207,000. Institutional investors own 66.74% of the company’s stock.

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.