NextDecade (NASDAQ:NEXT) Shares Down 6.5% - Time to Sell?

Key Points

• Shares fell 6.5% to about $7.32 on Friday (intraday low $7.74) while trading volume plunged roughly 91% to ~356,600 shares versus a ~4.15M daily average.
• Analysts maintain a consensus "Hold" rating with an average target of $7.00 (1 Buy, 3 Holds, 1 Sell), though targets range from $6 (TD Cowen) to $8 (Morgan Stanley) and Capital One initiated coverage at "Overweight" with a $7 target.
• The company reported quarterly EPS of -$0.88, missing estimates by $0.20 and with analysts forecasting -3.04 EPS for the year, while showing weak liquidity (current ratio 0.54) and high leverage (debt/equity 3.70).

NextDecade Corporation (NASDAQ:NEXT - Get Free Report) dropped 6.5% on Friday . The company traded as low as $7.74 and last traded at $7.3230. Approximately 356,599 shares traded hands during trading, a decline of 91% from the average daily volume of 4,148,977 shares. The stock had previously closed at $7.83.

Analysts Set New Price Targets

NEXT has been the topic of a number of research reports. Weiss Ratings raised shares of NextDecade from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday. Capital One Financial initiated coverage on shares of NextDecade in a research note on Friday, February 6th. They set an "overweight" rating and a $7.00 target price on the stock. Morgan Stanley boosted their target price on shares of NextDecade from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 21st. Finally, TD Cowen decreased their target price on shares of NextDecade from $7.00 to $6.00 and set a "hold" rating on the stock in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $7.00.

NextDecade Stock Down 0.5%

The company has a market cap of $2.06 billion, a P/E ratio of -6.67 and a beta of 1.69. The stock's 50-day moving average price is $6.85 and its 200-day moving average price is $6.02. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 3.70.

NextDecade (NASDAQ:NEXT - Get Free Report) last released its quarterly earnings data on Friday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.20). As a group, research analysts forecast that NextDecade Corporation will post -3.04 EPS for the current year.

Insider Activity

In related news, Director Pamela K.M. Beall acquired 71,500 shares of the business's stock in a transaction dated Monday, March 23rd. The shares were bought at an average price of $7.07 per share, with a total value of $505,505.00. Following the transaction, the director directly owned 71,500 shares of the company's stock, valued at $505,505. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On NextDecade

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of NextDecade by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 10,378,992 shares of the company's stock worth $70,473,000 after purchasing an additional 52,803 shares in the last quarter. Man Investment Partners US LP bought a new position in NextDecade in the 4th quarter valued at about $48,879,000. Wolf Hill Capital Management LP increased its stake in shares of NextDecade by 25.9% during the 4th quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company's stock worth $19,493,000 after purchasing an additional 761,299 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of NextDecade by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 3,457,163 shares of the company's stock worth $18,222,000 after purchasing an additional 45,757 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of NextDecade by 16.7% during the 2nd 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 last quarter. Institutional investors own 66.74% of the company's stock.

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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