Wolf Hill Capital Management LP Makes New Investment in NextDecade Corporation $NEXT

Key Points

• Wolf Hill Capital Management initiated a position in NextDecade by purchasing 374,896 shares valued at approximately $2.83 million, representing 0.14% of the company and 0.2% of the firm’s portfolio.
• Institutional investors own 66.74% of NextDecade, while analyst sentiment is mixed: the stock carries a consensus “Hold” rating and an average price target of $8.10.
• NextDecade shares opened at $7.35, with a market capitalization of about $1.96 billion. The company reported a quarterly loss of $0.25 per share, beating estimates for a $0.66 loss.

Wolf Hill Capital Management LP bought a new position in shares of NextDecade Corporation (NASDAQ:NEXT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 374,896 shares of the company's stock, valued at approximately $2,826,716,000. NextDecade comprises approximately 0.2% of Wolf Hill Capital Management LP's investment portfolio, making the stock its 23rd biggest holding. Wolf Hill Capital Management LP owned 0.14% of NextDecade at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Alliancebernstein L.P. increased its stake in NextDecade by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 122,020 shares of the company's stock worth $829,000 after buying an additional 1,800 shares during the period. Comerica Bank boosted its position in NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company's stock valued at $32,000 after buying an additional 1,900 shares during the period. Collective Family Office LLC boosted its position in NextDecade by 13.4% in the 2nd quarter. Collective Family Office LLC now owns 17,194 shares of the company's stock valued at $130,000 after buying an additional 2,033 shares during the period. Inscription Capital LLC grew its stake in NextDecade by 16.0% in the 4th quarter. Inscription Capital LLC now owns 15,739 shares of the company's stock worth $83,000 after acquiring an additional 2,172 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in NextDecade by 0.3% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 644,417 shares of the company's stock worth $4,936,000 after acquiring an additional 2,235 shares in the last quarter. 66.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NEXT has been the subject of several research analyst reports. The Goldman Sachs Group started coverage on shares of NextDecade in a research note on Wednesday, July 15th. They set a "neutral" rating and a $8.50 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of NextDecade in a research note on Friday, July 24th. Finally, Citigroup started coverage on NextDecade in a research report on Wednesday, May 13th. They set a "buy" rating and a $11.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $8.10.

NextDecade Stock Up 3.2%

NASDAQ:NEXT opened at $7.35 on Tuesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.37 and a quick ratio of 0.37. NextDecade Corporation has a 1-year low of $4.75 and a 1-year high of $11.27. The company has a 50-day moving average of $7.26 and a 200 day moving average of $7.17. The firm has a market cap of $1.96 billion, a PE ratio of -5.40 and a beta of 1.55.

NextDecade (NASDAQ:NEXT - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported ($0.25) EPS for the quarter, beating analysts' consensus estimates of ($0.66) by $0.41. As a group, research analysts anticipate that NextDecade Corporation will post -2.94 EPS for the current fiscal year.

About NextDecade

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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