Insider Buying: NextDecade (NASDAQ:NEXT) Director Acquires 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 purchased 15,000 shares of NextDecade stock in a transaction on Thursday, September 18th. The shares were acquired at an average cost of $6.46 per share, with a total value of $96,900.00. Following the completion of the transaction, the director directly owned 200,070 shares in the company, valued at $1,292,452.20. The trade was a 8.11% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

NextDecade Stock Performance

NEXT traded up $0.30 during trading on Monday, reaching $6.88. 5,614,494 shares of the company's stock were exchanged, compared to its average volume of 2,532,744. NextDecade Corporation has a 1 year low of $4.59 and a 1 year 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 stock has a market capitalization of $1.80 billion, a P/E ratio of -8.82 and a beta of 1.35. The company's fifty day simple moving average is $10.15 and its 200-day simple moving average is $8.71.

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. MetLife Investment Management LLC lifted its position in NextDecade by 2.4% in 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 last quarter. Wealth Enhancement Advisory Services LLC increased its stake in NextDecade by 10.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,536 shares of the company's stock worth $160,000 after purchasing an additional 1,675 shares during the period. PNC Financial Services Group Inc. increased its stake in NextDecade by 137.2% during the first 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 during the period. Comerica Bank increased its stake in NextDecade by 88.0% during the first quarter. Comerica Bank now owns 4,060 shares of the company's stock worth $32,000 after purchasing an additional 1,900 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in NextDecade by 27.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 9,061 shares of the company's stock worth $81,000 after purchasing an additional 1,956 shares during the period. Institutional investors and hedge funds own 66.74% of the company's stock.

About NextDecade

NextDecade Corp. is a development company.