NextDecade (NASDAQ:NEXT) Stock Price Down 9.3% – Time to Sell?

Shares of NextDecade Corporation (NASDAQ:NEXT) traded down 9.3% on Wednesday. The company traded as low as $6.21 and last traded at $6.1690. 1,056,986 shares changed hands during trading, a decline of 68% from the average daily volume of 3,344,375 shares. The stock had previously closed at $6.80.

Analysts Set New Price Targets

NEXT has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on shares of NextDecade in a research report on Wednesday, July 15th. They set a “neutral” rating and a $8.50 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of NextDecade in a report on Friday, July 24th. Finally, Wall Street Zen raised NextDecade from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.10.

NextDecade Price Performance

The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -4.42 and a beta of 1.53. The company has a 50 day moving average of $6.96 and a 200 day moving average of $7.46. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 3.70.

NextDecade (NASDAQ:NEXT) last released its earnings results on Thursday, July 30th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.41. As a group, equities research analysts forecast that NextDecade Corporation will post -2.10 EPS for the current fiscal year.

Institutional Trading of NextDecade

Several institutional investors have recently made changes to their positions in NEXT. Nykredit A S purchased a new position in shares of NextDecade in the 2nd quarter worth $25,000. EverSource Wealth Advisors LLC grew its position in NextDecade by 302.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company’s stock valued at $32,000 after acquiring an additional 3,161 shares during the period. NewEdge Advisors LLC increased its stake in NextDecade by 112.5% during the second quarter. NewEdge Advisors LLC now owns 5,327 shares of the company’s stock worth $40,000 after acquiring an additional 2,820 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in NextDecade by 153.9% during the first quarter. PNC Financial Services Group Inc. now owns 5,602 shares of the company’s stock worth $43,000 after acquiring an additional 3,396 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in NextDecade during the second quarter worth about $50,000. 66.74% of the stock is owned by hedge funds and other institutional investors.

NextDecade Company Profile

NextDecade Corporation is an energy company focused on developing liquefied natural gas (LNG) infrastructure and lower-carbon energy solutions. Its principal project is Rio Grande LNG, an LNG export facility under development near Brownsville, Texas, along the U.S. Gulf Coast. The project is designed to produce LNG for delivery to customers in international markets.

In addition to LNG production and export services, NextDecade is developing carbon capture and storage capabilities associated with Rio Grande LNG.