NextDecade (NASDAQ:NEXT) Sets New 12-Month Low – Should You Sell?

Shares of NextDecade Corporation (NASDAQ:NEXT) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $4.75 and last traded at $4.82, with a volume of 4064828 shares. The stock had previously closed at $5.05.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of NextDecade in a report on Monday, December 29th. TD Cowen reduced their target price on shares of NextDecade from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, October 23rd. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $8.50.

NextDecade Stock Performance

The company has a debt-to-equity ratio of 3.34, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market cap of $1.28 billion, a P/E ratio of -6.60 and a beta of 1.99. The stock’s 50 day moving average is $5.41 and its two-hundred day moving average is $7.13.

Insider Activity at NextDecade

In related news, major shareholder Aerospace Co. Ltd. Hanwha purchased 851,971 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were acquired at an average price of $5.83 per share, with a total value of $4,966,990.93. Following the purchase, the insider directly owned 25,620,222 shares in the company, valued at $149,365,894.26. This represents a 3.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders purchased 7,177,861 shares of company stock worth $42,393,247. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NEXT. US Bancorp DE grew its holdings in shares of NextDecade by 22,782.4% in the 3rd quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $26,000 after purchasing an additional 3,873 shares during the last quarter. Bessemer Group Inc. acquired a new position in NextDecade in the third quarter valued at about $29,000. Comerica Bank boosted its position in 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 buying an additional 1,900 shares in the last quarter. AlphaQuest LLC grew its stake in NextDecade by 102.2% during the second quarter. AlphaQuest LLC now owns 3,961 shares of the company’s stock worth $35,000 after buying an additional 2,002 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of NextDecade during the second quarter worth approximately $36,000. 66.74% of the stock is owned by institutional investors.

NextDecade Company Profile

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.