NextDecade (NASDAQ:NEXT) Trading Down 6.2% – Time to Sell?

NextDecade Corporation (NASDAQ:NEXT) dropped 6.2% during trading on Monday . The company traded as low as $6.80 and last traded at $6.8790. Approximately 1,823,515 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 3,705,520 shares. The stock had previously closed at $7.33.

Wall Street Analyst Weigh In

NEXT has been the subject of a number of research reports. Capital One Financial started coverage on shares of NextDecade in a research report on Friday, February 6th. They issued an “overweight” rating and a $7.00 price target for the company. TD Cowen cut their target price on NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Thursday, March 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of NextDecade in a report on Monday, December 29th. Finally, Morgan Stanley decreased their target price on NextDecade from $10.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 24th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.67.

NextDecade Stock Performance

The stock has a market cap of $1.92 billion, a PE ratio of -6.18 and a beta of 2.02. The firm’s 50-day moving average is $5.54 and its 200 day moving average is $5.92. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.54 and a current ratio of 0.54.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings data on Friday, February 27th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.20). As a group, research analysts anticipate that NextDecade Corporation will post -0.61 EPS for the current year.

Institutional Trading of NextDecade

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE grew its stake 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 valued at $26,000 after purchasing an additional 3,873 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of NextDecade during the third quarter worth approximately $29,000. Comerica Bank raised its stake in shares of NextDecade by 88.0% during the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after purchasing an additional 1,900 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of NextDecade during the second quarter worth $36,000. Finally, Federated Hermes Inc. purchased a new position in NextDecade in the 3rd quarter valued at $38,000. 66.74% of the stock is owned by hedge funds and other institutional investors.

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.