NextDecade (NASDAQ:NEXT) Trading 1.7% Higher – Here’s What Happened

NextDecade Corporation (NASDAQ:NEXT) shares traded up 1.7% during trading on Friday . The company traded as high as $8.48 and last traded at $8.40. 2,782,766 shares changed hands during trading, an increase of 16% from the average session volume of 2,404,584 shares. The stock had previously closed at $8.26.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NEXT shares. Weiss Ratings raised NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th. Citigroup started coverage on NextDecade in a report on Wednesday, May 13th. They set a “buy” rating and a $11.00 target price on the stock. Morgan Stanley lifted their target price on NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 21st. Finally, TD Cowen lowered their target price on NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday, March 5th. One research 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 issued a Sell rating to the company. According to MarketBeat, NextDecade currently has an average rating of “Hold” and a consensus target price of $8.00.

NextDecade Price Performance

The stock has a 50 day moving average of $8.01 and a two-hundred day moving average of $6.50. The stock has a market cap of $2.23 billion, a PE ratio of -6.27 and a beta of 1.60. The company has a debt-to-equity ratio of 3.96, a quick ratio of 0.40 and a current ratio of 0.40.

NextDecade (NASDAQ:NEXT) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.15. Equities analysts anticipate that NextDecade Corporation will post -2.16 EPS for the current year.

Insiders Place Their Bets

In related news, Director Pamela K.M. Beall purchased 71,500 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were purchased at an average price of $7.07 per share, with a total value of $505,505.00. Following the purchase, the director owned 71,500 shares of the company’s stock, valued at $505,505. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On NextDecade

A number of institutional investors have recently bought and sold shares of NEXT. Comerica Bank increased its stake in NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after purchasing an additional 1,900 shares in the last quarter. AQR Capital Management LLC purchased a new position in NextDecade in the 1st quarter worth about $386,000. Millennium Management LLC increased its stake in NextDecade by 10.1% in the 1st quarter. Millennium Management LLC now owns 1,404,770 shares of the company’s stock worth $10,929,000 after purchasing an additional 128,568 shares in the last quarter. Caxton Associates LLP acquired a new stake in NextDecade during the 1st quarter worth about $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in NextDecade by 13.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 277,307 shares of the company’s stock worth $2,157,000 after acquiring an additional 33,941 shares during the period. 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.