Stock Traders Purchase Large Volume of Call Options on NextDecade (NASDAQ:NEXT)

Key Points

• Unusual options activity: Traders purchased 2,936 NextDecade call options, 16% above the typical volume of 2,529 contracts.
• Stock performance and ownership: NEXT shares rose to $7.26 on unusually high trading volume, while institutional investors held 66.74% of the company.
• Mixed outlook: NextDecade exceeded quarterly EPS expectations, but analyst sentiment remains “Hold,” with a consensus price target of $8.10 and ratings ranging from Strong Buy to Strong Sell.

NextDecade Corporation (NASDAQ:NEXT - Get Free Report) saw some unusual options trading activity on Thursday. Stock traders acquired 2,936 call options on the company. This represents an increase of 16% compared to the typical volume of 2,529 call options.

Institutional Trading of NextDecade

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nykredit A S bought a new position in NextDecade in the second quarter worth $25,000. EverSource Wealth Advisors LLC boosted its stake in NextDecade by 302.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company's stock worth $32,000 after acquiring an additional 3,161 shares in the last quarter. NewEdge Advisors LLC boosted its stake in NextDecade by 112.5% during the second quarter. NewEdge Advisors LLC now owns 5,327 shares of the company's stock worth $40,000 after acquiring an additional 2,820 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in NextDecade by 153.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,602 shares of the company's stock worth $43,000 after purchasing an additional 3,396 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new stake in NextDecade in the second quarter worth about $50,000. Hedge funds and other institutional investors own 66.74% of the company's stock.

NextDecade Stock Performance

Shares of NEXT traded up $0.75 during mid-day trading on Thursday, hitting $7.26. The stock had a trading volume of 8,575,857 shares, compared to its average volume of 3,361,748. The firm has a market cap of $1.93 billion, a P/E ratio of -5.34 and a beta of 1.53. The business has a fifty day moving average price of $6.84 and a 200-day moving average price of $6.91. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.37 and a quick ratio of 0.37. NextDecade has a 52 week low of $4.75 and a 52 week high of $9.24.

NextDecade (NASDAQ:NEXT - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of ($0.71) by $1.25. On average, equities research analysts expect that NextDecade will post -2.10 EPS for the current year.

Wall Street Analyst Weigh In

NEXT has been the topic of several analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of NextDecade in a research report on Thursday, October 22nd. Wall Street Zen cut NextDecade from a "sell" rating to a "strong sell" rating in a report on Saturday, October 24th. Finally, The Goldman Sachs Group initiated coverage on NextDecade in a research note on Wednesday, July 15th. They set a "neutral" rating and a $8.50 target price for the company. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $8.10.

NextDecade Company Profile

NextDecade Corporation is an energy company focused on developing liquefied natural gas (LNG) infrastructure and related carbon-management solutions. The company's principal project is Rio Grande LNG, an LNG export facility located near Brownsville, Texas, on the U.S. Gulf Coast.

Rio Grande LNG is designed to receive natural gas, process it into LNG, and export the product by ship to customers in international markets. The project is being developed in multiple phases and is intended to serve energy markets in Europe, Asia and other regions seeking access to U.S.

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