NextDecade (NASDAQ:NEXT) Reaches New 1-Year Low – Time to Sell?

NextDecade Corporation (NASDAQ:NEXT) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $4.95 and last traded at $4.9340, with a volume of 380172 shares changing hands. The stock had previously closed at $5.08.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NEXT shares. TD Cowen reduced their target price on NextDecade from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, October 23rd. Cowen lowered NextDecade from a “buy” rating to a “hold” rating in a research note on Monday, September 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NextDecade in a research report on Monday, December 29th. Finally, Morgan Stanley reiterated 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.50.

NextDecade Price Performance

The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -6.68 and a beta of 1.97. The firm has a 50-day simple moving average of $5.74 and a two-hundred day simple moving average of $7.79. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 3.34.

NextDecade (NASDAQ:NEXT) last announced its quarterly earnings results on Thursday, October 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.10). As a group, analysts predict that NextDecade Corporation will post -0.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Aerospace Co. Ltd. Hanwha acquired 800,000 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was acquired at an average price of $5.54 per share, for a total transaction of $4,432,000.00. Following the completion of the transaction, the insider owned 26,420,222 shares in the company, valued at approximately $146,368,029.88. The trade was a 3.12% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired a total of 7,177,861 shares of company stock worth $42,393,247 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NextDecade

Several institutional investors and hedge funds have recently modified their holdings of the business. Fort Washington Investment Advisors Inc. OH grew its position in shares of NextDecade by 6.2% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 852,422 shares of the company’s stock valued at $7,595,000 after purchasing an additional 49,695 shares during the period. Westwood Holdings Group Inc. lifted its stake in NextDecade by 6.5% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,255,874 shares of the company’s stock valued at $11,190,000 after buying an additional 76,238 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in NextDecade in the 1st quarter worth about $1,945,000. ELCO Management Co. LLC increased its stake in NextDecade by 40.7% during the 2nd quarter. ELCO Management Co. LLC now owns 239,768 shares of the company’s stock worth $2,136,000 after buying an additional 69,300 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in NextDecade by 12.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,541,633 shares of the company’s stock worth $31,559,000 after buying an additional 386,613 shares in the last quarter. Hedge funds and other institutional investors own 66.74% of the company’s stock.

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.