NextDecade (NASDAQ:NEXT) Stock Price Down 9.3% - What's Next?

Key Points

• NextDecade shares fell 9.3% to about $6.17, below both the 50-day moving average of $6.98 and the 200-day average of $7.49.
• Analyst sentiment remains mixed but centers on a “Hold” consensus, with a $8.10 average price target; ratings include one Strong Buy, one Buy, three Holds and one Sell.
• The company exceeded quarterly earnings expectations, reporting a loss of $0.25 per share versus the expected $0.66 loss, while analysts project a full-year loss of $2.10 per share. Institutional investors own 66.74% of the stock.

NextDecade Corporation (NASDAQ:NEXT - Get Free Report) shares fell 9.3% during trading on Wednesday. The stock traded as low as $6.21 and last traded at $6.1690. Approximately 1,056,986 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 3,344,375 shares. The stock had previously closed at $6.80.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wall Street Zen raised shares of NextDecade from a "strong sell" rating to a "sell" rating in a research report on Saturday, September 5th. The Goldman Sachs Group assumed coverage on shares of NextDecade in a research report on Wednesday, July 15th. They issued a "neutral" rating and a $8.50 price target for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of NextDecade in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $8.10.

NextDecade Trading Down 9.2%

The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 3.70. The firm has a market cap of $1.64 billion, a PE ratio of -4.55 and a beta of 1.53. The business has a fifty day moving average price of $6.98 and a 200 day moving average price of $7.49.

NextDecade (NASDAQ:NEXT - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.25) earnings per share for the quarter, topping analysts' consensus estimates of ($0.66) by $0.41. Analysts forecast that NextDecade Corporation will post -2.10 EPS for the current year.

Institutional Investors Weigh In On NextDecade

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its stake in shares of NextDecade by 58.5% during the third quarter. Farther Finance Advisors LLC now owns 7,816 shares of the company's stock worth $50,000 after acquiring an additional 2,886 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in NextDecade during the second quarter worth about $182,000. Integrated Wealth Concepts LLC acquired a new stake in shares of NextDecade during the 2nd quarter valued at approximately $50,000. NewEdge Advisors LLC lifted its position in shares of NextDecade by 112.5% during the 2nd quarter. NewEdge Advisors LLC now owns 5,327 shares of the company's stock valued at $40,000 after acquiring an additional 2,820 shares during the period. Finally, Arizona State Retirement System grew its holdings in NextDecade by 24.2% in the second quarter. Arizona State Retirement System now owns 40,206 shares of the company's stock valued at $303,000 after purchasing an additional 7,823 shares during the last quarter. Institutional investors and hedge funds own 66.74% of the company's stock.

NextDecade Company Profile

NextDecade Corporation is an energy company focused on developing liquefied natural gas (LNG) infrastructure and lower-carbon energy solutions. Its principal project is Rio Grande LNG, an LNG export facility under development near Brownsville, Texas, along the U.S. Gulf Coast. The project is designed to produce LNG for delivery to customers in international markets.

In addition to LNG production and export services, NextDecade is developing carbon capture and storage capabilities associated with Rio Grande LNG.

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