NextDecade (NASDAQ:NEXT) Shares Down 6.1% - Should You Sell?

Key Points

• NextDecade Corporation's stock price fell by 6.1% to $7.60, with a significant decrease in trading volume of 68% compared to the average.
• Analysts have mixed reviews, with ratings ranging from "Strong Buy" to "Hold," and an average target price of $13.00.
• Institutional investors increased their stakes in NextDecade, with notable raises from firms like Bank of America and Adage Capital Partners.

NextDecade Corporation (NASDAQ:NEXT - Get Free Report) shares were down 6.1% on Thursday . The company traded as low as $7.85 and last traded at $7.60. Approximately 730,348 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 2,286,172 shares. The stock had previously closed at $8.09.

Wall Street Analysts Forecast Growth

NEXT has been the topic of several research analyst reports. Morgan Stanley reiterated an "equal weight" rating and issued a $10.00 target price (down previously from $15.00) on shares of NextDecade in a research report on Friday. Zacks Research upgraded shares of NextDecade from a "strong sell" rating to a "hold" rating in a report on Monday, September 8th. Seaport Res Ptn upgraded shares of NextDecade to a "strong-buy" rating in a report on Friday, July 25th. Cowen downgraded shares of NextDecade from a "buy" rating to a "hold" rating in a research note on Monday. Finally, TD Cowen reissued a "hold" rating and issued a $8.00 price target (down previously from $11.00) on shares of NextDecade in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $9.00.

NextDecade Stock Performance

The stock's 50-day simple moving average is $10.38 and its 200 day simple moving average is $8.73. 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 company has a market capitalization of $1.83 billion, a PE ratio of -8.94 and a beta of 1.35.

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

Insider Activity at NextDecade

In related news, CEO Matthew K. Schatzman bought 281,500 shares of the company's stock in a transaction that occurred on Friday, September 12th. The shares were purchased 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 directly owned 5,246,316 shares of the company's stock, valued at approximately $37,458,696.24. This represents a 5.67% increase in their position. The purchase 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.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its position in shares of NextDecade by 137.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,261 shares of the company's stock valued at $25,000 after buying an additional 1,886 shares during the last quarter. Comerica Bank grew its position 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 buying an additional 1,900 shares during the last quarter. AlphaQuest LLC grew its position in shares of NextDecade by 102.2% in the 2nd quarter. AlphaQuest LLC now owns 3,961 shares of the company's stock valued at $35,000 after buying an additional 2,002 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of NextDecade in the 2nd quarter valued at $36,000. Finally, Farther Finance Advisors LLC grew its position in shares of NextDecade by 21,395.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,729 shares of the company's stock valued at $42,000 after buying an additional 4,707 shares during the last quarter. 66.74% of the stock is owned by hedge funds and other institutional investors.

NextDecade Company Profile

NextDecade Corp. is a development company.