NextDecade (NASDAQ:NEXT) Trading 5.5% Higher After Insider Buying Activity

Key Points

• NextDecade shares rose by 5.5% following significant insider buying by major shareholder Hanwha, who purchased over 449,000 shares at an average price of $7.02 per share.
• Analysts have mixed ratings on NextDecade, with one upgrade to "strong-buy" but several firms, including TD Cowen and Morgan Stanley, reducing their target prices and ratings.
• The company's market capitalization stands at $1.90 billion, with a debt-to-equity ratio of 2.77 and a current ratio of 0.70, indicating potential financial concerns.

Shares of NextDecade Corporation (NASDAQ:NEXT - Get Free Report) traded up 5.5% during trading on Friday after an insider bought additional shares in the company. The company traded as high as $7.39 and last traded at $7.25. 1,885,395 shares traded hands during trading, a decline of 26% from the average session volume of 2,546,783 shares. The stock had previously closed at $6.87.

Specifically, major shareholder Aerospace Co. Ltd. Hanwha bought 449,510 shares of the firm's stock in a transaction that occurred on Wednesday, September 24th. The shares were acquired at an average cost of $7.02 per share, with a total value of $3,155,560.20. Following the completion of the transaction, the insider owned 18,537,697 shares of the company's stock, valued at approximately $130,134,632.94. The trade was a 2.49% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Aerospace Co. Ltd. Hanwha bought 551,819 shares of the firm's stock in a transaction that occurred on Tuesday, September 23rd. The stock was bought at an average cost of $6.99 per share, for a total transaction of $3,857,214.81. Following the completion of the transaction, the insider directly owned 18,088,187 shares of the company's stock, valued at approximately $126,436,427.13. The trade was a 3.15% increase in their position. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Seaport Res Ptn raised shares of NextDecade to a "strong-buy" rating in a research report on Friday, July 25th. TD Cowen reissued a "hold" rating and issued a $8.00 target price (down from $11.00) on shares of NextDecade in a research report on Monday, September 15th. Cowen cut shares of NextDecade from a "buy" rating to a "hold" rating in a research report on Monday, September 15th. Morgan Stanley reissued an "equal weight" rating and issued a $10.00 target price (down from $15.00) on shares of NextDecade in a research report on Friday, September 12th. Finally, Zacks Research raised shares of NextDecade from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $9.00.

NextDecade Trading Up 5.6%

The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -9.34 and a beta of 1.35. The company has a debt-to-equity ratio of 2.77, a current ratio of 0.70 and a quick ratio of 0.70. The business's 50-day simple moving average is $9.79 and its two-hundred day simple moving average is $8.68.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its position in shares of NextDecade by 137.2% during the first quarter. PNC Financial Services Group Inc. now owns 3,261 shares of the company's stock worth $25,000 after purchasing an additional 1,886 shares in the last quarter. Comerica Bank lifted its position in shares of NextDecade by 88.0% during the first quarter. Comerica Bank now owns 4,060 shares of the company's stock worth $32,000 after purchasing an additional 1,900 shares in the last quarter. AlphaQuest LLC lifted its position in shares of NextDecade by 102.2% during the second quarter. AlphaQuest LLC now owns 3,961 shares of the company's stock worth $35,000 after purchasing an additional 2,002 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of NextDecade during the second quarter worth $36,000. Finally, Farther Finance Advisors LLC lifted its position in shares of NextDecade by 21,395.5% during the second quarter. Farther Finance Advisors LLC now owns 4,729 shares of the company's stock worth $42,000 after purchasing an additional 4,707 shares in the last quarter. 66.74% of the stock is owned by institutional investors and hedge funds.

About NextDecade

NextDecade Corp. is a development company.

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