Insider Buying: NextDecade (NASDAQ:NEXT) CEO Buys 281,500 Shares of Stock

Key Points

• NextDecade CEO Matthew Schatzman purchased 281,500 shares of stock at an average price of $7.14, totaling approximately $2 million, and now owns over 5.2 million shares.
• The company's stock experienced a 1.2% drop, trading at $6.76, with analysts projecting a negative EPS of -0.61 for the current fiscal year.
• Equity research analysts have mixed outlooks on the stock, with price targets ranging from $8.00 to $10.00, reflecting a shift in ratings from "strong sell" to "hold" or "buy."

NextDecade Corporation (NASDAQ:NEXT - Get Free Report) CEO Matthew Schatzman purchased 281,500 shares of the stock in a transaction dated Friday, September 12th. The shares were purchased at an average price of $7.14 per share, with a total value of $2,009,910.00. Following the completion of the acquisition, the chief executive officer owned 5,246,316 shares of the company's stock, valued at approximately $37,458,696.24. This represents a 5.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

NextDecade Trading Down 1.2%

Shares of NASDAQ NEXT traded down $0.09 during midday trading on Monday, reaching $6.76. 3,886,845 shares of the stock were exchanged, compared to its average volume of 2,389,063. The company has a market capitalization of $1.77 billion, a P/E ratio of -8.65 and a beta of 1.35. NextDecade Corporation has a 52-week low of $4.59 and a 52-week high of $12.12. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 2.77. The stock has a 50 day moving average price of $10.43 and a 200-day moving average price of $8.74.

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, hitting analysts' consensus estimates of ($0.23). Equities research analysts expect that NextDecade Corporation will post -0.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NEXT shares. TD Cowen reissued a "hold" rating and issued a $8.00 target price (down from $11.00) on shares of NextDecade in a research report on Monday. Morgan Stanley reissued an "equal weight" rating and issued a $10.00 target price (down from $15.00) on shares of NextDecade in a research report on Friday. Zacks Research raised shares of NextDecade from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. Cowen raised shares of NextDecade from a "hold" rating to a "buy" rating in a research report on Tuesday, June 24th. Finally, Seaport Res Ptn raised shares of NextDecade to a "strong-buy" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $9.00.

Hedge Funds Weigh In On NextDecade

Several hedge funds and other institutional investors have recently modified their holdings of the company. Catalyst Capital Advisors LLC lifted its holdings in NextDecade by 2.3% in the second quarter. Catalyst Capital Advisors LLC now owns 4,704,427 shares of the company's stock worth $41,916,000 after purchasing an additional 107,004 shares during the period. Geode Capital Management LLC lifted its holdings in NextDecade by 12.3% in the second quarter. Geode Capital Management LLC now owns 3,541,633 shares of the company's stock worth $31,559,000 after purchasing an additional 386,613 shares during the period. Bank of America Corp DE lifted its holdings in NextDecade by 16.7% in the second quarter. Bank of America Corp DE now owns 3,102,352 shares of the company's stock worth $27,642,000 after purchasing an additional 444,518 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in NextDecade by 17.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,248,028 shares of the company's stock worth $17,490,000 after purchasing an additional 338,429 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in NextDecade by 520.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company's stock worth $13,810,000 after purchasing an additional 1,300,000 shares during the period. Institutional investors and hedge funds own 66.74% of the company's stock.

NextDecade Company Profile

NextDecade Corp. is a development company.

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