NextDecade (NASDAQ:NEXT) Stock Price Up 6.8% on Better-Than-Expected Earnings

Key Points

• NextDecade shares rose 6.8% after the company reported quarterly EPS of ($0.51), beating consensus of ($0.66); the stock traded as high as $8.42 with mid-day volume ~2.06M (about 51% below average).
• Analysts are mixed with a consensus rating of "Hold" and an average target of $7.00 (one Buy, three Hold, one Sell), while individual price targets range roughly from $6.00 to $8.00.
• Director Pamela K.M. Beall purchased 71,500 shares at $7.07 (~$505,505); insiders own 1.8% and institutional investors hold 66.74% — the company has a $2.22B market cap, high leverage (debt/equity 3.70) and a current ratio of 0.54.

NextDecade Corporation (NASDAQ:NEXT - Get Free Report) shares traded up 6.8% during trading on Monday after the company announced better than expected quarterly earnings. The company traded as high as $8.42 and last traded at $8.3650. 2,063,900 shares were traded during mid-day trading, a decline of 51% from the average session volume of 4,177,124 shares. The stock had previously closed at $7.83.

The company reported ($0.51) earnings per share for the quarter, topping analysts' consensus estimates of ($0.66) by $0.15.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Capital One Financial assumed coverage on shares of NextDecade in a report on Friday, February 6th. They set an "overweight" rating and a $7.00 price objective for the company. Weiss Ratings upgraded shares of NextDecade from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, April 27th. Morgan Stanley increased their price objective on shares of NextDecade from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 21st. Finally, TD Cowen lowered their price objective on shares of NextDecade from $7.00 to $6.00 and set a "hold" rating for the company in a research report on Thursday, March 5th. One investment 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $7.00.

Insider Activity

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

Institutional Trading of NextDecade

A number of hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp acquired a new stake in shares of NextDecade during the 1st quarter worth about $70,000. Simplicity Wealth LLC acquired a new stake in shares of NextDecade during the 1st quarter worth about $91,000. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of NextDecade by 0.3% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 644,417 shares of the company's stock worth $4,936,000 after buying an additional 2,235 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of NextDecade by 433.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 18,259 shares of the company's stock worth $96,000 after buying an additional 14,836 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of NextDecade by 7.7% during the 4th quarter. Pacer Advisors Inc. now owns 266,111 shares of the company's stock worth $1,402,000 after buying an additional 19,045 shares during the last quarter. Institutional investors and hedge funds own 66.74% of the company's stock.

NextDecade Trading Up 6.8%

The business'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. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -6.24 and a beta of 1.65.

About NextDecade

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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