Bardin Hill Investment Partner Purchases 357,021 Shares of NextDecade (NASDAQ:NEXT) Stock

Key Points

• Bardin Hill Investment Partner, a director at NextDecade, purchased 357,021 shares at an average price of $6.98, totaling approximately $2.49 million, increasing their stake by 4% to nearly 9.3 million shares.
• NextDecade's stock recently traded at $6.45, showing a decline of 1.2%, with a market capitalization of $1.69 billion and a current P/E ratio of -8.27.
• Recent analyst ratings suggest mixed sentiment, with one firm downgrading the stock from "buy" to "hold," while another raised its rating to "strong-buy," indicating a consensus rating of "hold" with a target price of around $9.00.

NextDecade Corporation (NASDAQ:NEXT - Get Free Report) Director Bardin Hill Investment Partner bought 357,021 shares of the firm's stock in a transaction dated Tuesday, September 16th. The stock was purchased at an average cost of $6.98 per share, with a total value of $2,492,006.58. Following the transaction, the director directly owned 9,274,894 shares in the company, valued at approximately $64,738,760.12. This represents a 4.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

NextDecade Stock Performance

Shares of NASDAQ NEXT traded up $0.21 during midday trading on Monday, hitting $6.79. 1,126,549 shares of the stock traded hands, compared to its average volume of 2,506,429. The firm has a market capitalization of $1.78 billion, a P/E ratio of -8.75 and a beta of 1.35. The firm has a 50-day moving average of $10.15 and a two-hundred day moving average of $8.71. The company has a debt-to-equity ratio of 2.77, a quick ratio of 0.70 and a current ratio of 0.70. NextDecade Corporation has a one year low of $4.59 and a one year high of $12.12.

NextDecade (NASDAQ:NEXT - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.23). On average, equities analysts forecast that NextDecade Corporation will post -0.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NEXT. PNC Financial Services Group Inc. lifted its holdings in shares of 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 lifted its stake in NextDecade by 88.0% in 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 in the last quarter. AlphaQuest LLC increased its holdings in shares of NextDecade by 102.2% in the 2nd quarter. AlphaQuest LLC now owns 3,961 shares of the company's stock worth $35,000 after buying an additional 2,002 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of NextDecade during the 2nd quarter valued at $36,000. Finally, Farther Finance Advisors LLC grew its holdings in NextDecade by 21,395.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,729 shares of the company's stock worth $42,000 after acquiring an additional 4,707 shares during the last quarter. Institutional investors and hedge funds own 66.74% of the company's stock.

Analyst Upgrades and Downgrades

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

About NextDecade

NextDecade Corp. is a development company.