NextDecade (NASDAQ:NEXT) Shares Gap Up on Insider Buying Activity

Key Points

• NextDecade Corporation shares gapped up from $6.45 to $6.69 following significant insider buying, including a purchase of 357,021 shares by Director Bardin Hill at an average price of $6.98.
• The company's stock has recently seen various analyst ratings, with Seaport Res Ptn upgrading it to "strong-buy" while other analysts have downgraded their price targets.
• NextDecade reported earnings per share of ($0.23) for the last quarter, meeting analysts' expectations, and is projected to post EPS of -0.61 for the current fiscal year.

Shares of NextDecade Corporation (NASDAQ:NEXT - Get Free Report) gapped up before the market opened on Friday after an insider bought additional shares in the company. The stock had previously closed at $6.45, but opened at $6.69. NextDecade shares last traded at $6.60, with a volume of 1,577,009 shares trading hands.

Specifically, Director Edward Andrew Jr. Scoggins acquired 15,000 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The shares were bought at an average cost of $6.46 per share, with a total value of $96,900.00. Following the transaction, the director owned 200,070 shares of the company's stock, valued at $1,292,452.20. This trade represents a 8.11% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bardin Hill Investment Partner acquired 357,021 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The shares were purchased at an average cost of $6.98 per share, for a total transaction of $2,492,006.58. Following the completion of the transaction, the director directly owned 9,274,894 shares in the company, valued at $64,738,760.12. The trade was a 4.00% increase in their position. The disclosure for this purchase can be found here. In other news, CEO Matthew K. Schatzman acquired 281,500 shares of the business's stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average cost of $7.14 per share, with a total value of $2,009,910.00. Following the transaction, the chief executive officer owned 5,246,316 shares of the company's stock, valued at $37,458,696.24. This trade represents a 5.67% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

Several analysts recently commented on NEXT shares. Cowen downgraded shares of NextDecade from a "buy" rating to a "hold" rating in a research report on Monday, September 15th. Seaport Res Ptn upgraded shares of NextDecade to a "strong-buy" rating in a research note on Friday, July 25th. Morgan Stanley reissued an "equal weight" rating and set a $10.00 price objective (down from $15.00) on shares of NextDecade in a report on Friday, September 12th. Zacks Research upgraded shares of NextDecade from a "strong sell" rating to a "hold" rating in a report on Monday, September 8th. Finally, TD Cowen reaffirmed a "hold" rating and issued a $8.00 target price (down previously from $11.00) on shares of NextDecade in a research report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, NextDecade currently has a consensus rating of "Hold" and an average price target of $9.00.

NextDecade Trading Up 2.0%

The company has a debt-to-equity ratio of 2.77, a quick ratio of 0.70 and a current ratio of 0.70. The stock's 50-day simple moving average is $10.15 and its two-hundred day simple moving average is $8.71.

NextDecade (NASDAQ:NEXT - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.23). As a group, analysts anticipate that NextDecade Corporation will post -0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On NextDecade

Large investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. grew its holdings in shares of NextDecade by 520.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company's stock worth $13,810,000 after purchasing an additional 1,300,000 shares during the period. Nuveen LLC acquired a new position in shares of NextDecade in the 1st quarter valued at $8,147,000. Brightline Capital Management LLC acquired a new position in NextDecade during the first quarter worth $7,780,000. Millennium Management LLC increased its holdings in NextDecade by 262.2% during the 4th quarter. Millennium Management LLC now owns 1,276,202 shares of the company's stock valued at $9,840,000 after acquiring an additional 923,898 shares in the last quarter. Finally, Riposte Capital LLC purchased a new position in NextDecade during the first quarter worth $6,613,000. Institutional investors and hedge funds own 66.74% of the company's stock.

About NextDecade

NextDecade Corp. is a development company.