NextDecade (NASDAQ:NEXT) Shares Gap Up Following Insider Buying Activity

NextDecade Corporation (NASDAQ:NEXT)’s share price gapped up before the market opened on Thursday following insider buying activity. The stock had previously closed at $7.34, but opened at $7.91. NextDecade shares last traded at $7.8550, with a volume of 3,039,504 shares trading hands.

Specifically, Director Pamela K.M. Beall bought 71,500 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were bought at an average cost of $7.07 per share, with a total value of $505,505.00. Following the acquisition, the director owned 71,500 shares in the company, valued at $505,505. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

A number of equities analysts have weighed in on NEXT shares. Capital One Financial assumed coverage on NextDecade in a research report on Friday, February 6th. They set an “overweight” rating and a $7.00 price target on the stock. Morgan Stanley cut their price objective on NextDecade from $10.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 24th. TD Cowen reduced their target price on NextDecade from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of NextDecade in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, NextDecade has an average rating of “Hold” and an average price target of $6.67.

NextDecade Stock Down 0.2%

The firm has a market cap of $2.15 billion, a P/E ratio of -6.95 and a beta of 2.02. The firm’s fifty day moving average is $5.70 and its 200 day moving average is $5.93. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.54 and a current ratio of 0.54.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings results on Friday, February 27th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.20). As a group, equities research analysts anticipate that NextDecade Corporation will post -0.61 earnings per share for the current fiscal year.

Institutional Trading of NextDecade

Several hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in NextDecade by 22,782.4% in the 3rd quarter. US Bancorp DE now owns 3,890 shares of the company’s stock valued at $26,000 after purchasing an additional 3,873 shares during the period. Bessemer Group Inc. acquired a new stake in shares of NextDecade during the third quarter worth $29,000. Comerica Bank boosted its position in shares of NextDecade by 88.0% in the first 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. Raymond James Financial Inc. bought a new stake in shares of NextDecade in the second quarter valued at about $36,000. Finally, Federated Hermes Inc. acquired a new position in shares of NextDecade in the third quarter valued at about $38,000. 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.