NextDecade (NASDAQ:NEXT) Shares Down 3.4% - Here's What Happened

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

Wall Street Analyst Weigh In

Several research firms have commented on NEXT. TD Cowen upgraded 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. Morgan Stanley reiterated an "overweight" rating and issued a $15.00 target price (up previously from $10.00) on shares of NextDecade in a research note on Friday, July 11th. Finally, Cowen upgraded NextDecade from a "hold" rating to a "buy" rating in a research note on Tuesday, June 24th.

NextDecade Stock Performance

The company's fifty day simple moving average is $8.67 and its 200 day simple moving average is $8.11. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.64. The stock has a market capitalization of $2.99 billion, a P/E ratio of -16.83 and a beta of 1.08.

Institutional Investors Weigh In On NextDecade

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew 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 buying an additional 1,886 shares in the last quarter. Comerica Bank grew its holdings in shares of NextDecade by 88.0% in the first quarter. Comerica Bank now owns 4,060 shares of the company's stock valued at $32,000 after purchasing an additional 1,900 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of NextDecade by 21,395.5% in the second quarter. Farther Finance Advisors LLC now owns 4,729 shares of the company's stock valued at $42,000 after purchasing an additional 4,707 shares during the period. GAMMA Investing LLC boosted its stake in NextDecade by 2,302.6% during the first quarter. GAMMA Investing LLC now owns 6,535 shares of the company's stock worth $51,000 after buying an additional 6,263 shares during the period. Finally, MAI Capital Management boosted its stake in NextDecade by 1,047.6% during the first quarter. MAI Capital Management now owns 7,230 shares of the company's stock worth $56,000 after buying an additional 6,600 shares during the period. Institutional investors own 66.74% of the company's stock.

About NextDecade

NextDecade Corp. is a development company.

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