NextDecade (NASDAQ:NEXT) Stock Price Down 3.4% - Here's Why

NextDecade Corporation (NASDAQ:NEXT - Get Free Report)'s stock price was down 3.4% during trading on Monday . The stock traded as low as $11.62 and last traded at $11.59. Approximately 186,708 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 2,017,537 shares. The stock had previously closed at $12.00.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NEXT shares. TD Cowen upgraded NextDecade from a "hold" rating to a "buy" rating and set a $11.00 target price on the stock in a research note on Tuesday, June 24th. Cowen raised NextDecade from a "hold" rating to a "buy" rating in a research report on Tuesday, June 24th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $15.00 target price (up from $10.00) on shares of NextDecade in a research report on Friday, July 11th.

NextDecade Stock Performance

The stock's 50 day simple moving average is $8.86 and its two-hundred day simple moving average is $8.17. The company has a debt-to-equity ratio of 2.64, a current ratio of 0.85 and a quick ratio of 0.85.

Hedge Funds Weigh In On NextDecade

Several institutional investors have recently bought and sold shares of the company. Swiss National Bank lifted its position in shares of NextDecade by 59.2% during the 4th quarter. Swiss National Bank now owns 280,700 shares of the company's stock valued at $2,164,000 after buying an additional 104,400 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in NextDecade by 7.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 45,594 shares of the company's stock valued at $352,000 after purchasing an additional 3,082 shares during the last quarter. Corient Private Wealth LLC bought a new position in NextDecade during the fourth quarter worth about $483,000. Cibc World Markets Corp bought a new stake in shares of NextDecade in the fourth quarter valued at approximately $83,000. Finally, Quantbot Technologies LP raised its position in shares of NextDecade by 26,057.3% in the fourth quarter. Quantbot Technologies LP now owns 117,708 shares of the company's stock valued at $908,000 after purchasing an additional 117,258 shares during the period. Hedge funds and other institutional investors own 66.74% of the company's stock.

NextDecade Company Profile

NextDecade Corp. is a development company.