NextDecade (NASDAQ:NEXT) Shares Gap Up After 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.

NextDecade Corporation (NASDAQ:NEXT - Get Free Report)'s share price gapped up before the market opened on Friday following insider buying activity. 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 changing hands.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on NEXT. Cowen downgraded NextDecade from a "buy" rating to a "hold" rating in a research report on Monday, September 15th. Seaport Res Ptn raised NextDecade to a "strong-buy" rating in a report on Friday, July 25th. Zacks Research raised NextDecade from a "strong sell" rating to a "hold" rating in a report on Monday, September 8th. Morgan Stanley restated an "equal weight" rating and set a $10.00 target price (down previously from $15.00) on shares of NextDecade in a research report on Friday, September 12th. Finally, TD Cowen reiterated a "hold" rating and issued a $8.00 price target (down from $11.00) on shares of NextDecade in a research note 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 company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $9.00.

NextDecade Trading Up 2.7%

The business's 50 day simple moving average is $10.06 and its two-hundred day simple moving average is $8.70. The stock has a market cap of $1.85 billion, a P/E ratio of -9.08 and a beta of 1.35. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 2.77.

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

Institutional Investors Weigh In On NextDecade

Several institutional investors and hedge funds have recently made changes to their positions in NEXT. Westwood Holdings Group Inc. raised its stake in NextDecade by 6.5% during the second quarter. Westwood Holdings Group Inc. now owns 1,255,874 shares of the company's stock worth $11,190,000 after buying an additional 76,238 shares during the last quarter. Castleark Management LLC grew its holdings in NextDecade by 98.8% during the 2nd quarter. Castleark Management LLC now owns 106,250 shares of the company's stock worth $947,000 after acquiring an additional 52,810 shares during the period. Tower Research Capital LLC TRC grew its holdings in NextDecade by 89.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 14,910 shares of the company's stock worth $133,000 after acquiring an additional 7,024 shares during the period. Captrust Financial Advisors grew its holdings in NextDecade by 6.2% during the 2nd quarter. Captrust Financial Advisors now owns 55,444 shares of the company's stock worth $494,000 after acquiring an additional 3,219 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in NextDecade by 249.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 30,842 shares of the company's stock worth $275,000 after acquiring an additional 22,009 shares during the period. Institutional investors and hedge funds own 66.74% of the company's stock.

About NextDecade

NextDecade Corp. is a development company.