NextDecade (NASDAQ:NEXT) Trading Up 8.5% - Here's Why

Key Points

• NextDecade Corporation shares increased by 8.5% during trading on Friday, reaching a high of $7.15, with approximately 3 million shares traded, significantly above the average volume.
• Several analysts have provided mixed ratings for NextDecade, with one rating a Strong Buy, four issuing Hold ratings, and one giving a Sell rating, resulting in a consensus rating of Hold and an average target price of $9.00.
• Insider transactions have increased, with significant purchases made by Director Bardin Hill and CEO Matthew K. Schatzman, highlighting confidence in the company's future amidst a challenging market environment.

NextDecade Corporation (NASDAQ:NEXT - Get Free Report) was up 8.5% during trading on Friday . The stock traded as high as $7.15 and last traded at $7.11. Approximately 3,080,009 shares were traded during trading, an increase of 19% from the average daily volume of 2,584,492 shares. The stock had previously closed at $6.55.

Analysts Set New Price Targets

NEXT has been the subject of a number of recent analyst reports. Seaport Res Ptn upgraded NextDecade to a "strong-buy" rating in a research report on Friday, July 25th. Morgan Stanley reiterated an "equal weight" rating and issued a $10.00 target price (down from $15.00) on shares of NextDecade in a report on Friday, September 12th. Zacks Research upgraded shares of NextDecade from a "strong sell" rating to a "hold" rating in a report on Monday, September 8th. TD Cowen reaffirmed a "hold" rating and set a $8.00 target price (down previously from $11.00) on shares of NextDecade in a research note on Monday, September 15th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of NextDecade in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $9.00.

NextDecade Stock Performance

The company has a market cap of $1.84 billion, a P/E ratio of -9.03 and a beta of 1.78. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 2.77. The stock's 50-day moving average price is $9.24 and its 200 day moving average price is $8.66.

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

Insider Transactions at NextDecade

In other news, Director Bardin Hill Investment Partner acquired 357,021 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were bought at an average price of $6.98 per share, with a total value of $2,492,006.58. Following the acquisition, the director owned 9,274,894 shares of the company's stock, valued at $64,738,760.12. This trade represents a 4.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew K. Schatzman bought 281,500 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average price of $7.14 per share, with a total value of $2,009,910.00. Following the completion of the purchase, the chief executive officer directly owned 5,246,316 shares of the company's stock, valued at $37,458,696.24. This represents a 5.67% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,654,850 shares of company stock worth $11,611,592 over the last 90 days. Insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On NextDecade

Large investors have recently modified their holdings of the stock. Catalyst Capital Advisors LLC increased its position in shares of NextDecade by 2.3% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 4,704,427 shares of the company's stock worth $41,916,000 after purchasing an additional 107,004 shares in the last quarter. Geode Capital Management LLC increased its holdings in NextDecade by 12.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,541,633 shares of the company's stock valued at $31,559,000 after purchasing an additional 386,613 shares in the last quarter. Bank of America Corp DE raised its position in NextDecade by 16.7% in the 2nd quarter. Bank of America Corp DE now owns 3,102,352 shares of the company's stock valued at $27,642,000 after purchasing an additional 444,518 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NextDecade by 17.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,248,028 shares of the company's stock valued at $17,490,000 after purchasing an additional 338,429 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in NextDecade by 520.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company's stock worth $13,810,000 after purchasing an additional 1,300,000 shares in the last quarter. 66.74% of the stock is currently owned by institutional investors.

About NextDecade

NextDecade Corp. is a development company.

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