NextDecade (NASDAQ:NEXT) Shares Down 5.7% - Here's Why

Key Points

• NextDecade shares fell 5.7% to about $7.01 on Friday, with midday volume of ~1.2M shares (a 72% decline from the average daily volume).
• Analysts are mixed but the MarketBeat consensus is a Hold with a $7.00 target; analyst price targets range roughly from $6.00 to $8.00 (ratings: 1 Buy, 3 Hold, 1 Sell).
• The company is loss-making and highly leveraged—reported quarterly EPS of -$0.88 vs. -$0.68 expected and a FY EPS consensus of -3.04, with a debt-to-equity ratio of 3.70 and current ratio of 0.54—while a director purchased 71,500 shares at $7.07.

NextDecade Corporation (NASDAQ:NEXT - Get Free Report)'s share price was down 5.7% on Friday . The stock traded as low as $7.02 and last traded at $7.0050. Approximately 1,201,273 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 4,238,612 shares. The stock had previously closed at $7.43.

Wall Street Analysts Forecast Growth

NEXT has been the topic of a number of recent research reports. Capital One Financial started coverage on NextDecade in a research note on Friday, February 6th. They set an "overweight" rating and a $7.00 price objective on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of NextDecade in a research note on Monday, December 29th. TD Cowen dropped their target price on NextDecade from $7.00 to $6.00 and set a "hold" rating for the company in a report on Thursday, March 5th. Finally, Morgan Stanley raised their price target on NextDecade from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, NextDecade presently has a consensus rating of "Hold" and a consensus target price of $7.00.

NextDecade Price Performance

The stock has a market cap of $1.87 billion, a PE ratio of -6.03 and a beta of 1.69. The business's 50-day simple moving average is $6.63 and its 200-day simple moving average is $6.01. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 3.70.

NextDecade (NASDAQ:NEXT - Get Free Report) last posted its earnings results on Friday, February 27th. The company reported ($0.88) earnings per share for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.20). On average, research analysts expect that NextDecade Corporation will post -3.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Pamela K.M. Beall purchased 71,500 shares of the business's stock in a transaction that occurred on Monday, March 23rd. The shares were acquired at an average price of $7.07 per share, for a total transaction of $505,505.00. Following the completion of the acquisition, the director directly owned 71,500 shares in the company, valued at approximately $505,505. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On NextDecade

A number of institutional investors have recently bought and sold shares of the stock. US Bancorp DE boosted its position in NextDecade by 22,782.4% during the 3rd quarter. US Bancorp DE now owns 3,890 shares of the company's stock valued at $26,000 after acquiring an additional 3,873 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of NextDecade in the 2nd quarter worth approximately $36,000. Comerica Bank lifted its stake in shares of 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 purchasing an additional 1,900 shares during the period. Bessemer Group Inc. purchased a new position in shares of NextDecade in the 3rd quarter valued at approximately $29,000. Finally, Federated Hermes Inc. bought a new stake in shares of NextDecade during the third quarter valued at approximately $38,000. 66.74% of the stock is owned by institutional investors.

NextDecade Company Profile

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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