NextDecade (NASDAQ:NEXT) Shares Gap Up – Time to Buy?

NextDecade Corporation (NASDAQ:NEXT)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $8.23, but opened at $8.76. NextDecade shares last traded at $9.30, with a volume of 2,328,812 shares traded.

Analysts Set New Price Targets

Separately, TD Cowen upgraded NextDecade from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Tuesday.

NextDecade Stock Up 12.1%

The stock has a fifty day simple moving average of $7.83 and a two-hundred day simple moving average of $7.74. The firm has a market cap of $2.41 billion, a PE ratio of -13.65 and a beta of 1.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.64.

Hedge Funds Weigh In On NextDecade

Hedge funds have recently bought and sold shares of the company. Bardin Hill Management Partners LP boosted its holdings in NextDecade by 3.9% in the 4th quarter. Bardin Hill Management Partners LP now owns 8,917,873 shares of the company’s stock valued at $68,757,000 after purchasing an additional 334,012 shares during the period. Wolf Hill Capital Management LP raised its position in shares of NextDecade by 330.1% in the fourth quarter. Wolf Hill Capital Management LP now owns 8,142,024 shares of the company’s stock worth $62,775,000 after buying an additional 6,248,757 shares in the last quarter. Catalyst Capital Advisors LLC boosted its stake in NextDecade by 22.6% during the first quarter. Catalyst Capital Advisors LLC now owns 4,597,423 shares of the company’s stock valued at $35,768,000 after buying an additional 846,937 shares during the period. Geode Capital Management LLC boosted its stake in NextDecade by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,075,331 shares of the company’s stock valued at $23,717,000 after buying an additional 48,401 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in NextDecade by 17.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,248,028 shares of the company’s stock worth $17,490,000 after buying an additional 338,429 shares in the last quarter. Hedge funds and other institutional investors own 66.74% of the company’s stock.

About NextDecade

NextDecade Corp. is a development company.