NextDecade (NASDAQ:NEXT) Shares Gap Down – Here’s Why

NextDecade Corporation (NASDAQ:NEXT) shares gapped down prior to trading on Wednesday . The stock had previously closed at $8.74, but opened at $7.32. NextDecade shares last traded at $7.5450, with a volume of 2,217,772 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Capital One Financial assumed coverage on NextDecade in a research note on Friday, February 6th. They issued an “overweight” rating and a $7.00 target price for the company. Weiss Ratings restated a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. Morgan Stanley lowered their target price on 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, TD Cowen lowered their price objective on NextDecade from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.67.

NextDecade Stock Down 10.2%

The stock has a 50 day simple moving average of $6.10 and a 200-day simple moving average of $5.95. The firm has a market cap of $2.08 billion, a PE ratio of -6.70 and a beta of 1.69. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.54 and a quick ratio of 0.54.

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 analysts’ consensus estimates of ($0.68) by ($0.20). Sell-side analysts predict that NextDecade Corporation will post -0.61 EPS for the current fiscal year.

Insider Transactions at NextDecade

In related news, Director Pamela K.M. Beall acquired 71,500 shares of the stock in a transaction on Monday, March 23rd. The stock was acquired 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 of the company’s stock, valued at $505,505. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Trading of NextDecade

Institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE increased its holdings in shares of NextDecade by 22,782.4% in the 3rd quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $26,000 after purchasing an additional 3,873 shares in the last quarter. Bessemer Group Inc. bought a new stake in shares of NextDecade in the 3rd quarter worth $29,000. Comerica Bank increased its holdings in shares of NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after purchasing an additional 1,900 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of NextDecade in the 2nd quarter worth $36,000. Finally, Federated Hermes Inc. bought a new stake in shares of NextDecade in the 3rd quarter worth $38,000. 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.