NextDecade (NASDAQ:NEXT) Reaches New 12-Month Low – Here’s What Happened

Shares of NextDecade Corporation (NASDAQ:NEXT) reached a new 52-week low on Monday . The company traded as low as $5.12 and last traded at $5.2250, with a volume of 1942544 shares trading hands. The stock had previously closed at $5.46.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. TD Cowen reduced their price objective on NextDecade from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, October 23rd. Zacks Research upgraded shares of NextDecade from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. Cowen lowered shares of NextDecade from a “buy” rating to a “hold” rating in a report on Monday, September 15th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $10.00 target price (down from $15.00) on shares of NextDecade in a research note on Friday, September 12th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.50.

NextDecade Price Performance

The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 3.34. The stock has a market capitalization of $1.37 billion, a P/E ratio of -7.06 and a beta of 1.90. The company has a fifty day simple moving average of $6.07 and a two-hundred day simple moving average of $8.14.

NextDecade (NASDAQ:NEXT) last issued its quarterly earnings results on Thursday, October 30th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.10). Sell-side analysts expect that NextDecade Corporation will post -0.61 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Aerospace Co. Ltd. Hanwha bought 600,000 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were purchased at an average price of $6.05 per share, with a total value of $3,630,000.00. Following the completion of the purchase, the insider owned 24,768,251 shares of the company’s stock, valued at $149,847,918.55. This represents a 2.48% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bardin Hill Investment Partner bought 357,021 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were bought at an average price of $6.98 per share, with a total value of $2,492,006.58. Following the completion of the transaction, the director directly owned 9,274,894 shares in the company, valued at approximately $64,738,760.12. This trade represents a 4.00% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 6,899,240 shares of company stock worth $42,595,937. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. MetLife Investment Management LLC raised its stake in shares of NextDecade by 2.4% in the 1st quarter. MetLife Investment Management LLC now owns 68,611 shares of the company’s stock valued at $534,000 after purchasing an additional 1,602 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of NextDecade by 10.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,536 shares of the company’s stock worth $160,000 after buying an additional 1,675 shares in the last quarter. Alliancebernstein L.P. raised its position in NextDecade by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 122,020 shares of the company’s stock valued at $829,000 after buying an additional 1,800 shares during the last quarter. PNC Financial Services Group Inc. raised its position in NextDecade by 137.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,261 shares of the company’s stock valued at $25,000 after buying an additional 1,886 shares during the last quarter. Finally, Comerica Bank lifted its stake in NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after acquiring an additional 1,900 shares in the last quarter. Institutional investors own 66.74% of the company’s stock.

NextDecade Company Profile

NextDecade Corp. is a development company.