NextDecade (NASDAQ:NEXT) Shares Down 5.9% – What’s Next?

NextDecade Corporation (NASDAQ:NEXT)’s share price was down 5.9% on Wednesday . The stock traded as low as $6.02 and last traded at $5.9950. Approximately 1,940,142 shares changed hands during trading, a decline of 29% from the average daily volume of 2,739,772 shares. The stock had previously closed at $6.37.

Wall Street Analysts Forecast Growth

NEXT has been the topic of several analyst reports. Cowen lowered NextDecade from a “buy” rating to a “hold” rating in a report on Monday, September 15th. Zacks Research raised shares of NextDecade from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NextDecade in a research report on Monday. TD Cowen cut their target price on NextDecade from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, October 23rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $10.00 price target (down previously from $15.00) on shares of NextDecade in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, four have issued 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 an average price target of $8.50.

NextDecade Stock Down 7.7%

The company has a market cap of $1.56 billion, a price-to-earnings ratio of -8.05 and a beta of 1.90. The firm’s 50 day simple moving average is $6.13 and its 200-day simple moving average is $8.18. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.64 and a quick ratio of 0.64.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.10). As a group, sell-side analysts anticipate that NextDecade Corporation will post -0.61 earnings per share for the current year.

Insider Activity

In other news, major shareholder Aerospace Co. Ltd. Hanwha purchased 151,058 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were acquired at an average price of $6.21 per share, for a total transaction of $938,070.18. Following the acquisition, the insider directly owned 23,835,653 shares in the company, valued at approximately $148,019,405.13. The trade was a 0.64% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have purchased 6,248,142 shares of company stock worth $38,864,471. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NextDecade

Several hedge funds have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. raised its position in shares of NextDecade by 520.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company’s stock valued at $13,810,000 after buying an additional 1,300,000 shares during the last quarter. Nuveen LLC purchased a new position in NextDecade in the 1st quarter worth approximately $8,147,000. Brightline Capital Management LLC acquired a new position in NextDecade in the 1st quarter worth $7,780,000. Qube Research & Technologies Ltd purchased a new position in NextDecade in the third quarter valued at about $4,935,000. Finally, Tudor Investment Corp ET AL grew its position in shares of NextDecade by 262.8% during the third quarter. Tudor Investment Corp ET AL now owns 912,589 shares of the company’s stock worth $6,196,000 after buying an additional 661,028 shares in the last quarter. Hedge funds and other institutional investors own 66.74% of the company’s stock.

NextDecade Company Profile

NextDecade Corp. is a development company.