Insider Buying: NextDecade (NASDAQ:NEXT) Director Buys 15,000 Shares of Stock

Key Points

• Edward Andrew Jr. Scoggins, a director at NextDecade, purchased 15,000 shares of the company's stock at an average price of $6.46, increasing his ownership by 8.11%.
• NextDecade's stock performance shows a 52-week range between $4.59 and $12.12, with a market cap of $1.72 billion.
• Analysts have mixed ratings on NextDecade, with price targets ranging from $8.00 to $10.00 and a consensus rating of "Hold".

NextDecade Corporation (NASDAQ:NEXT - Get Free Report) Director Edward Andrew Jr. Scoggins bought 15,000 shares of the business's stock in a transaction dated Thursday, September 18th. The stock was acquired at an average price of $6.46 per share, for a total transaction of $96,900.00. Following the purchase, the director directly owned 200,070 shares in the company, valued at approximately $1,292,452.20. The trade was a 8.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

NextDecade Stock Performance

Shares of NextDecade stock traded up $0.13 during trading hours on Friday, hitting $6.58. 7,945,901 shares of the company's stock traded hands, compared to its average volume of 5,065,864. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of -8.44 and a beta of 1.35. NextDecade Corporation has a 12-month low of $4.59 and a 12-month high of $12.12. The company has a debt-to-equity ratio of 2.77, a current ratio of 0.70 and a quick ratio of 0.70. The company has a fifty day simple moving average of $10.15 and a 200-day simple moving average of $8.71.

NextDecade (NASDAQ:NEXT - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.23) EPS for the quarter, meeting analysts' consensus estimates of ($0.23). Equities research analysts anticipate that NextDecade Corporation will post -0.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On NextDecade

A number of hedge funds have recently modified their holdings of the company. MetLife Investment Management LLC increased its stake in shares of NextDecade by 2.4% during the first quarter. MetLife Investment Management LLC now owns 68,611 shares of the company's stock valued at $534,000 after buying an additional 1,602 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in NextDecade by 10.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 17,536 shares of the company's stock valued at $160,000 after purchasing an additional 1,675 shares during the period. PNC Financial Services Group Inc. raised its holdings in NextDecade by 137.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,261 shares of the company's stock worth $25,000 after purchasing an additional 1,886 shares in the last quarter. Comerica Bank raised its holdings 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. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of NextDecade by 27.5% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 9,061 shares of the company's stock valued at $81,000 after purchasing an additional 1,956 shares in the last quarter. Hedge funds and other institutional investors own 66.74% of the company's stock.

About NextDecade

NextDecade Corp. is a development company.