NextDecade Corporation $NEXT Shares Sold by NEOS Investment Management LLC

Key Points

• NEOS Investment Management cut its NextDecade stake by 15.1% in the second quarter, selling 384,353 shares and retaining 2.16 million shares worth approximately $16.3 million. Institutional investors collectively own 66.74% of the company.
• NextDecade shares opened at $7.34, near their 50-day and 200-day moving averages, with a market capitalization of about $1.95 billion. The company reported a quarterly loss of $0.25 per share, beating analysts’ expected loss of $0.66.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $8.10; targets range from $8.50 at Goldman Sachs to $11.00 at Citigroup.

NEOS Investment Management LLC lessened its position in shares of NextDecade Corporation (NASDAQ:NEXT - Free Report) by 15.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,158,224 shares of the company's stock after selling 384,353 shares during the quarter. NEOS Investment Management LLC owned about 0.81% of NextDecade worth $16,273,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEXT. Nykredit A S purchased a new position in shares of NextDecade during the second quarter worth approximately $25,000. US Bancorp DE raised its position in NextDecade by 22,782.4% in the 3rd quarter. US Bancorp DE now owns 3,890 shares of the company's stock valued at $26,000 after purchasing an additional 3,873 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in NextDecade in the 2nd quarter valued at $36,000. Comerica Bank boosted its stake in NextDecade by 88.0% during 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 during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in NextDecade by 302.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company's stock worth $32,000 after purchasing an additional 3,161 shares during the period. Hedge funds and other institutional investors own 66.74% of the company's stock.

NextDecade Stock Performance

NASDAQ:NEXT opened at $7.34 on Friday. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -5.40 and a beta of 1.57. The firm's fifty day moving average price is $7.26 and its 200 day moving average price is $7.29. NextDecade Corporation has a 1-year low of $4.75 and a 1-year high of $10.84.

NextDecade (NASDAQ:NEXT - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.25) EPS for the quarter, topping analysts' consensus estimates of ($0.66) by $0.41. On average, sell-side analysts expect that NextDecade Corporation will post -2.94 EPS for the current year.

Analyst Upgrades and Downgrades

NEXT has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of NextDecade from a "strong sell" rating to a "sell" rating in a research note on Saturday. Citigroup initiated coverage on shares of NextDecade in a research note on Wednesday, May 13th. They set a "buy" rating and a $11.00 target price for the company. The Goldman Sachs Group assumed coverage on NextDecade in a report on Wednesday, July 15th. They set a "neutral" rating and a $8.50 price target on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NextDecade in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $8.10.

NextDecade Profile

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.

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