NextDecade (NASDAQ:NEXT) Trading Down 5.8% – Should You Sell?

NextDecade Corporation (NASDAQ:NEXT) shares were down 5.8% during mid-day trading on Tuesday . The company traded as low as $7.72 and last traded at $7.5810. Approximately 2,546,483 shares traded hands during trading, a decline of 38% from the average daily volume of 4,105,647 shares. The stock had previously closed at $8.05.

Analysts Set New Price Targets

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

NextDecade Trading Down 4.2%

The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 3.70. The company has a fifty day moving average of $5.86 and a two-hundred day moving average of $5.91. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -6.27 and a beta of 2.02.

NextDecade (NASDAQ:NEXT) last announced its quarterly earnings data 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 expect that NextDecade Corporation will post -0.61 EPS for the current year.

Insider Buying and Selling

In other NextDecade news, Director Pamela K.M. Beall acquired 71,500 shares of the stock in a transaction on Monday, March 23rd. The shares were bought at an average price of $7.07 per share, with a total value of $505,505.00. Following the acquisition, the director owned 71,500 shares of the company’s stock, valued at $505,505. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by insiders.

Institutional Trading of NextDecade

Several hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd boosted its stake in shares of NextDecade by 433.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 18,259 shares of the company’s stock valued at $96,000 after buying an additional 14,836 shares in the last quarter. Pacer Advisors Inc. raised its position in NextDecade by 7.7% in the fourth quarter. Pacer Advisors Inc. now owns 266,111 shares of the company’s stock worth $1,402,000 after acquiring an additional 19,045 shares in the last quarter. Virtu Financial LLC acquired a new stake in NextDecade in the fourth quarter valued at $97,000. Invesco Ltd. lifted its holdings in NextDecade by 5.1% in the fourth quarter. Invesco Ltd. now owns 82,717 shares of the company’s stock valued at $436,000 after acquiring an additional 4,008 shares during the period. Finally, Corient Private Wealth LLC boosted its position in shares of NextDecade by 118.8% during the 4th quarter. Corient Private Wealth LLC now owns 137,078 shares of the company’s stock worth $677,000 after purchasing an additional 74,425 shares in the last quarter. 66.74% of the stock is owned by institutional investors and hedge funds.

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.