NextDecade Corporation (NASDAQ:NEXT - Get Free Report) fell 6.5% on Wednesday . The company traded as low as $8.72 and last traded at $8.60. 843,686 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 1,936,063 shares. The stock had previously closed at $9.20.
Analysts Set New Price Targets
Separately, TD Cowen upgraded shares of NextDecade from a "hold" rating to a "buy" rating and set a $11.00 price objective for the company in a research report on Tuesday.
Get Our Latest Stock Analysis on NextDecade
NextDecade Stock Performance
The stock has a market cap of $2.31 billion, a price-to-earnings ratio of -13.10 and a beta of 1.10. The company's 50-day simple moving average is $7.86 and its 200-day simple moving average is $7.75. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.64.
Institutional Investors Weigh In On NextDecade
Several large investors have recently modified their holdings of NEXT. Rhumbline Advisers lifted its holdings in shares of NextDecade by 12.3% during the first quarter. Rhumbline Advisers now owns 166,090 shares of the company's stock valued at $1,292,000 after purchasing an additional 18,190 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in NextDecade by 13.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 277,307 shares of the company's stock worth $2,157,000 after buying an additional 33,941 shares during the period. Caxton Associates LLP purchased a new stake in NextDecade during the first quarter valued at about $185,000. Millennium Management LLC boosted its holdings in shares of NextDecade by 10.1% in the first quarter. Millennium Management LLC now owns 1,404,770 shares of the company's stock worth $10,929,000 after buying an additional 128,568 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of NextDecade by 17.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,248,028 shares of the company's stock worth $17,490,000 after buying an additional 338,429 shares during the period. 66.74% of the stock is owned by institutional investors.
About NextDecade
(
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NextDecade Corp. is a development company.
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