NextDecade Corporation (NASDAQ:NEXT – Get Free Report)’s stock price gapped up prior to trading on Monday following a stronger than expected earnings report. The stock had previously closed at $5.39, but opened at $6.00. NextDecade shares last traded at $5.5450, with a volume of 2,129,789 shares changing hands.
The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.43.
Analysts Set New Price Targets
A number of research analysts recently issued reports on 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. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. Finally, Capital One Financial assumed coverage on shares of NextDecade in a research report on Friday, February 6th. They issued an “overweight” rating and a $7.00 price objective on the stock. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.00.
Insiders Place Their Bets
In related news, major shareholder Aerospace Co. Ltd. Hanwha purchased 851,971 shares of the stock in a transaction on Thursday, December 11th. The shares were purchased at an average price of $5.83 per share, with a total value of $4,966,990.93. Following the transaction, the insider directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders purchased 3,532,496 shares of company stock valued at $20,893,914 in the last ninety days. 1.80% of the stock is owned by company insiders.
Hedge Funds Weigh In On NextDecade
Hedge funds and other institutional investors have recently made changes to their positions in the company. Comerica Bank raised its holdings in NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after acquiring an additional 1,900 shares during the period. AQR Capital Management LLC bought a new stake in shares of NextDecade during the first quarter worth approximately $386,000. Millennium Management LLC grew its position in shares of NextDecade by 10.1% in the first quarter. Millennium Management LLC now owns 1,404,770 shares of the company’s stock valued at $10,929,000 after purchasing an additional 128,568 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of NextDecade in the first quarter valued at approximately $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of NextDecade by 13.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 277,307 shares of the company’s stock worth $2,157,000 after purchasing an additional 33,941 shares during the period. 66.74% of the stock is owned by institutional investors.
NextDecade Stock Performance
The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -7.59 and a beta of 2.02. The company has a fifty day moving average of $5.24 and a two-hundred day moving average of $6.42. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.64 and a current ratio of 0.64.
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.
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