NextDecade (NASDAQ:NEXT) Hits New 1-Year Low – Here’s What Happened

NextDecade Corporation (NASDAQ:NEXT)’s share price hit a new 52-week low on Wednesday . The company traded as low as $4.76 and last traded at $4.7850, with a volume of 2172407 shares traded. The stock had previously closed at $4.86.

Wall Street Analyst Weigh In

NEXT has been the topic of several research analyst reports. TD Cowen cut their target price on NextDecade from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, October 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $8.50.

NextDecade Stock Up 1.0%

The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 3.34. The stock’s 50-day moving average price is $5.58 and its 200-day moving average price is $7.52. The company has a market cap of $1.30 billion, a P/E ratio of -6.73 and a beta of 1.97.

NextDecade (NASDAQ:NEXT) last issued its earnings results on Thursday, October 30th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.10). As a group, research analysts forecast that NextDecade Corporation will post -0.61 EPS for the current year.

Insider Buying and Selling at NextDecade

In other news, major shareholder Aerospace Co. Ltd. Hanwha bought 851,971 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were bought at an average cost of $5.83 per share, for a total transaction of $4,966,990.93. Following the acquisition, the insider directly owned 25,620,222 shares in the company, valued at approximately $149,365,894.26. This trade represents a 3.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 7,177,861 shares of company stock worth $42,393,247 over the last quarter. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NEXT. US Bancorp DE lifted its stake in shares of NextDecade by 22,782.4% in the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock valued at $26,000 after buying an additional 3,873 shares in the last quarter. Bessemer Group Inc. bought a new stake in shares of NextDecade during the third quarter worth about $29,000. Comerica Bank raised its holdings in shares of NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after acquiring an additional 1,900 shares during the last quarter. AlphaQuest LLC lifted its position in NextDecade by 102.2% in the 2nd quarter. AlphaQuest LLC now owns 3,961 shares of the company’s stock valued at $35,000 after acquiring an additional 2,002 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in NextDecade during the 2nd quarter valued at about $36,000. Institutional investors and hedge funds 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.