Man Investment Partners US LP Purchases New Position in NextDecade Corporation $NEXT

Man Investment Partners US LP purchased a new stake in shares of NextDecade Corporation (NASDAQ:NEXT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,274,894 shares of the company’s stock, valued at approximately $48,879,000. NextDecade accounts for approximately 76.5% of Man Investment Partners US LP’s holdings, making the stock its biggest position. Man Investment Partners US LP owned about 3.50% of NextDecade as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of NEXT. US Bancorp DE increased its position in shares of NextDecade by 22,782.4% during the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock valued at $26,000 after buying an additional 3,873 shares during the period. Comerica Bank boosted its stake in NextDecade by 88.0% during the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after acquiring an additional 1,900 shares in the last quarter. Raymond James Financial Inc. bought a new stake in NextDecade during the second quarter worth about $36,000. Aster Capital Management DIFC Ltd boosted its stake in NextDecade by 111.2% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 7,201 shares of the company’s stock worth $38,000 after acquiring an additional 3,792 shares in the last quarter. Finally, Smartleaf Asset Management LLC bought a new stake in NextDecade during the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 66.74% of the company’s stock.

Analyst Ratings Changes

NEXT has been the topic of several research reports. Citigroup initiated coverage on shares of NextDecade in a research note on Wednesday, May 13th. They set a “buy” rating and a $11.00 price objective on the stock. Weiss Ratings raised shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, April 27th. Morgan Stanley boosted their price objective on shares of NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 21st. Finally, 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. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8.00.

Insider Activity

In other news, Director Pamela K.M. Beall bought 71,500 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were purchased at an average price of $7.07 per share, for a total transaction of $505,505.00. Following the completion of the purchase, the director owned 71,500 shares in the company, valued at approximately $505,505. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

NextDecade Trading Down 6.0%

Shares of NASDAQ NEXT opened at $7.27 on Wednesday. The firm’s 50 day moving average price is $8.00 and its 200-day moving average price is $6.53. The company has a market cap of $1.93 billion, a PE ratio of -5.43 and a beta of 1.60. NextDecade Corporation has a 52-week low of $4.75 and a 52-week high of $12.12. The company has a debt-to-equity ratio of 3.96, a quick ratio of 0.40 and a current ratio of 0.40.

NextDecade (NASDAQ:NEXT) last issued its earnings results on Thursday, April 30th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.15. On average, equities research analysts expect that NextDecade Corporation will post -2.16 EPS for the current fiscal year.

NextDecade 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.