Short Interest in Nextdecade Corp (NASDAQ:NEXT) Decreases By 10.8%

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Nextdecade Corp (NASDAQ:NEXT) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 396,000 shares, a decline of 10.8% from the May 30th total of 443,800 shares. Based on an average daily volume of 39,100 shares, the short-interest ratio is presently 10.1 days. Approximately 0.4% of the shares of the company are sold short.

Several research firms have weighed in on NEXT. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Wednesday, June 5th. Wolfe Research upgraded shares of Nextdecade from an “underperform” rating to a “market perform” rating in a research note on Friday, April 5th. Finally, Gabelli lowered shares of Weatherford International from a “buy” rating to a “sell” rating in a research note on Monday, May 13th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $6.90.

A hedge fund recently raised its stake in Nextdecade stock. Deprince Race & Zollo Inc. grew its position in shares of Nextdecade Corp (NASDAQ:NEXT) by 11.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,800 shares of the company’s stock after acquiring an additional 6,020 shares during the quarter. Deprince Race & Zollo Inc. owned about 0.05% of Nextdecade worth $314,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 85.49% of the company’s stock.

Shares of NEXT traded down $0.03 during midday trading on Friday, hitting $5.86. 35,085 shares of the stock traded hands, compared to its average volume of 59,745. Nextdecade has a 1-year low of $3.15 and a 1-year high of $6.86. The company has a market capitalization of $645.26 million, a price-to-earnings ratio of -14.29 and a beta of -0.15. The company’s 50 day simple moving average is $5.90.

Nextdecade (NASDAQ:NEXT) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.15) earnings per share (EPS) for the quarter. Research analysts forecast that Nextdecade will post -0.56 earnings per share for the current year.

About Nextdecade

NextDecade Corporation, a liquefied natural gas (LNG) development company, engages in the development of LNG export projects and associated pipelines in the State of Texas. It intends to develop a portfolio of LNG projects, including Rio Grande LNG export facility, which has a liquefaction capacity of 27 million tons of LNG per annum located in Brownsville, Texas; and the 137-mile Rio Bravo Pipeline that transports natural gas from the Agua Dulce supply area to Rio Grande LNG.

Further Reading: What is the Producer Price Index (PPI)?

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