Riposte Capital LLC Takes Position in NextDecade Corporation (NASDAQ:NEXT)

Key Points

• Riposte Capital LLC acquired about 850,000 shares of NextDecade Corporation for approximately $6.61 million, making it the investment firm's 14th largest holding.
• Multiple institutional investors, including Neo Ivy Capital Management and Cetera Investment Advisers, have recently increased their stakes in NextDecade, contributing to hedge funds owning 66.74% of the stock.
• Equities analysts are optimistic, with several upgrades, including TD Cowen setting a new price target of $11.00 and Morgan Stanley increasing its target to $15.00.

Riposte Capital LLC purchased a new stake in NextDecade Corporation (NASDAQ:NEXT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 850,000 shares of the company's stock, valued at approximately $6,613,000. NextDecade accounts for 1.2% of Riposte Capital LLC's holdings, making the stock its 14th largest position. Riposte Capital LLC owned approximately 0.33% of NextDecade at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas acquired a new position in shares of NextDecade in the 1st quarter valued at $163,000. Catalyst Capital Advisors LLC grew its holdings in shares of NextDecade by 22.6% in the 1st quarter. Catalyst Capital Advisors LLC now owns 4,597,423 shares of the company's stock valued at $35,768,000 after buying an additional 846,937 shares during the period. Neo Ivy Capital Management acquired a new position in shares of NextDecade in the 1st quarter valued at $411,000. Wolf Hill Capital Management LP grew its holdings in shares of NextDecade by 330.1% in the 4th quarter. Wolf Hill Capital Management LP now owns 8,142,024 shares of the company's stock valued at $62,775,000 after buying an additional 6,248,757 shares during the period. Finally, Barclays PLC grew its holdings in shares of NextDecade by 38.8% in the 4th quarter. Barclays PLC now owns 533,995 shares of the company's stock valued at $4,117,000 after buying an additional 149,159 shares during the period. Institutional investors and hedge funds own 66.74% of the company's stock.

NextDecade Stock Down 1.6%

NASDAQ NEXT traded down $0.18 on Tuesday, reaching $11.21. The company had a trading volume of 650,544 shares, compared to its average volume of 2,129,133. The company's fifty day moving average is $9.08 and its 200-day moving average is $8.25. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.85 and a current ratio of 0.85. NextDecade Corporation has a 1-year low of $4.27 and a 1-year high of $12.12. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of -16.49 and a beta of 1.08.

Analysts Set New Price Targets

NEXT has been the subject of several research analyst reports. Morgan Stanley reissued an "overweight" rating and issued a $15.00 price target (up previously from $10.00) on shares of NextDecade in a report on Friday, July 11th. Seaport Res Ptn raised shares of NextDecade to a "strong-buy" rating in a research note on Friday. TD Cowen raised shares of NextDecade from a "hold" rating to a "buy" rating and set a $11.00 target price for the company in a research note on Tuesday, June 24th. Finally, Cowen raised shares of NextDecade from a "hold" rating to a "buy" rating in a research note on Tuesday, June 24th.

About NextDecade

NextDecade Corp. is a development company.