VIRGINIA RETIREMENT SYSTEMS ET Al Trims Stock Position in NextDecade Corporation $NEXT

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its holdings in shares of NextDecade Corporation (NASDAQ:NEXT) by 64.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,714 shares of the company’s stock after selling 85,450 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in NextDecade were worth $246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Alliancebernstein L.P. raised its holdings in shares of NextDecade by 1.5% during the third quarter. Alliancebernstein L.P. now owns 122,020 shares of the company’s stock worth $829,000 after purchasing an additional 1,800 shares during the last quarter. Comerica Bank raised its holdings 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. Inscription Capital LLC raised its holdings in shares of NextDecade by 16.0% during the fourth quarter. Inscription Capital LLC now owns 15,739 shares of the company’s stock worth $83,000 after purchasing an additional 2,172 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of NextDecade by 15.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 20,222 shares of the company’s stock worth $150,000 after purchasing an additional 2,686 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of NextDecade by 6.2% during the second quarter. Captrust Financial Advisors now owns 55,444 shares of the company’s stock worth $494,000 after purchasing an additional 3,219 shares during the last quarter. Hedge funds and other institutional investors own 66.74% of the company’s stock.

Analyst Upgrades and Downgrades

NEXT has been the subject of a number of recent analyst reports. Capital One Financial initiated coverage on shares of NextDecade in a report on Friday, February 6th. They issued an “overweight” rating and a $7.00 price objective for the company. Citigroup initiated coverage on shares of NextDecade in a report on Wednesday, May 13th. They issued a “buy” rating and a $11.00 price objective for the company. Morgan Stanley lifted their price objective on shares of NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Tuesday, April 21st. Weiss Ratings raised shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th. Finally, TD Cowen cut their price objective on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating for the company in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, NextDecade presently has an average rating of “Hold” and an average price target of $8.00.

NextDecade Stock Up 2.3%

NEXT opened at $8.97 on Wednesday. NextDecade Corporation has a fifty-two week low of $4.75 and a fifty-two week high of $12.12. The company has a debt-to-equity ratio of 3.96, a quick ratio of 0.40 and a current ratio of 0.40. The company has a fifty day moving average of $7.47 and a two-hundred day moving average of $6.20. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -6.69 and a beta of 1.65.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings data on Friday, February 27th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.20). On average, research analysts expect that NextDecade Corporation will post -2.16 earnings per share for the current year.

Insider Activity at NextDecade

In related news, Director Pamela K.M. Beall bought 71,500 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was acquired at an average price of $7.07 per share, with a total value of $505,505.00. Following the completion of the purchase, the director directly owned 71,500 shares of the company’s stock, valued at approximately $505,505. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.80% of the stock is owned by corporate insiders.

NextDecade 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.