Aerospace Co. Ltd. Hanwha Acquires 449,510 Shares of NextDecade (NASDAQ:NEXT) Stock

Key Points

• Aerospace Co. Ltd. Hanwha acquired 449,510 shares of NextDecade stock on September 24th, at an average cost of $7.02 per share, increasing its total ownership to 18,537,697 shares.
• NextDecade shares are currently priced at $6.87, reflecting a 2.3% decline, and the company has a market cap of approximately $1.80 billion.
• Analysts have adjusted ratings for NextDecade, with TD Cowen and Morgan Stanley reducing their target prices to $8.00 and $10.00, respectively, indicating mixed outlooks for the stock.

NextDecade Corporation (NASDAQ:NEXT - Get Free Report) major shareholder Aerospace Co. Ltd. Hanwha bought 449,510 shares of the company's stock in a transaction on Wednesday, September 24th. The stock was bought at an average cost of $7.02 per share, with a total value of $3,155,560.20. Following the completion of the acquisition, the insider owned 18,537,697 shares of the company's stock, valued at $130,134,632.94. This represents a 2.49% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Aerospace Co. Ltd. Hanwha also recently made the following trade(s):

• On Tuesday, September 23rd, Aerospace Co. Ltd. Hanwha purchased 551,819 shares of NextDecade stock. The stock was bought at an average cost of $6.99 per share, with a total value of $3,857,214.81.

NextDecade Trading Down 2.3%

Shares of NASDAQ:NEXT traded down $0.16 during trading on Thursday, reaching $6.87. The stock had a trading volume of 3,320,249 shares, compared to its average volume of 5,363,755. The business has a fifty day moving average price of $9.79 and a 200-day moving average price of $8.68. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 2.77. The stock has a market cap of $1.80 billion, a P/E ratio of -8.81 and a beta of 1.35. NextDecade Corporation has a fifty-two week low of $4.59 and a fifty-two week high of $12.12.

NextDecade (NASDAQ:NEXT - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported ($0.23) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.23). As a group, analysts anticipate that NextDecade Corporation will post -0.61 earnings per share for the current fiscal year.

Institutional Trading of NextDecade

A number of hedge funds and other institutional investors have recently modified their holdings of NEXT. PNC Financial Services Group Inc. increased its holdings in shares of NextDecade by 137.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,261 shares of the company's stock valued at $25,000 after buying an additional 1,886 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of NextDecade by 102.2% during the second quarter. AlphaQuest LLC now owns 3,961 shares of the company's stock valued at $35,000 after acquiring an additional 2,002 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of NextDecade during the second quarter valued at approximately $36,000. Comerica Bank raised its stake in NextDecade by 88.0% during the 1st quarter. Comerica Bank now owns 4,060 shares of the company's stock valued at $32,000 after purchasing an additional 1,900 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in NextDecade by 21,395.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,729 shares of the company's stock valued at $42,000 after purchasing an additional 4,707 shares during the period. Institutional investors own 66.74% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NEXT shares. TD Cowen restated a "hold" rating and set a $8.00 target price (down from $11.00) on shares of NextDecade in a research note on Monday, September 15th. Cowen lowered NextDecade from a "buy" rating to a "hold" rating in a research note on Monday, September 15th. Zacks Research upgraded NextDecade from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. Seaport Res Ptn raised shares of NextDecade to a "strong-buy" rating in a research report on Friday, July 25th. Finally, Morgan Stanley reissued an "equal weight" rating and set a $10.00 price objective (down from $15.00) on shares of NextDecade in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $9.00.

About NextDecade

NextDecade Corp. is a development company.

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