Weiss Ratings Reiterates "Sell (D-)" Rating for NextDecade (NASDAQ:NEXT)

Key Points

• Weiss Ratings has reiterated a "Sell (D-)" rating for NextDecade (NASDAQ:NEXT), indicating ongoing concerns about the company's performance.
• Several research firms have recently downgraded their ratings on NextDecade, with TD Cowen reducing its price target from $11.00 to $8.00.
• Insider trading activity has increased, with major shareholder Aerospace Co. Ltd. acquiring over 551,000 shares, raising their ownership significantly.

NextDecade (NASDAQ:NEXT - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research firms also recently issued reports on NEXT. Cowen downgraded NextDecade from a "buy" rating to a "hold" rating in a research note on Monday, September 15th. TD Cowen reiterated a "hold" rating and set a $8.00 price target (down previously from $11.00) on shares of NextDecade in a research note on Monday, September 15th. Zacks Research upgraded NextDecade from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. Seaport Res Ptn upgraded NextDecade to a "strong-buy" rating in a research note on Friday, July 25th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $10.00 target price (down previously from $15.00) on shares of NextDecade in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $9.00.

NextDecade Stock Performance

Shares of NextDecade stock opened at $6.66 on Wednesday. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -8.54 and a beta of 1.78. The company has a debt-to-equity ratio of 2.77, a current ratio of 0.70 and a quick ratio of 0.70. NextDecade has a one year low of $5.01 and a one year high of $12.12. The business has a 50-day simple moving average of $8.98 and a 200 day simple moving average of $8.62.

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

Insiders Place Their Bets

In other news, major shareholder Aerospace Co. Ltd. Hanwha acquired 551,819 shares of the company's stock in a transaction that occurred on Tuesday, September 23rd. The shares were acquired at an average price of $6.99 per share, for a total transaction of $3,857,214.81. Following the completion of the purchase, the insider owned 18,088,187 shares in the company, valued at approximately $126,436,427.13. This trade represents a 3.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew K. Schatzman acquired 281,500 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average price of $7.14 per share, for a total transaction of $2,009,910.00. Following the purchase, the chief executive officer owned 5,246,316 shares of the company's stock, valued at $37,458,696.24. The trade was a 5.67% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 1,654,850 shares of company stock worth $11,611,592 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NextDecade

A number of hedge funds and other institutional investors have recently bought and sold shares of NEXT. PNC Financial Services Group Inc. raised its holdings in NextDecade by 137.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,261 shares of the company's stock valued at $25,000 after acquiring an additional 1,886 shares during the period. Comerica Bank raised its holdings in NextDecade by 88.0% during the 1st quarter. Comerica Bank now owns 4,060 shares of the company's stock valued at $32,000 after acquiring an additional 1,900 shares during the period. AlphaQuest LLC raised its holdings in NextDecade by 102.2% during the 2nd quarter. AlphaQuest LLC now owns 3,961 shares of the company's stock valued at $35,000 after acquiring an additional 2,002 shares during the period. Raymond James Financial Inc. bought a new stake in NextDecade during the 2nd quarter valued at $36,000. Finally, Farther Finance Advisors LLC raised its holdings in NextDecade by 21,395.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,729 shares of the company's stock valued at $42,000 after acquiring an additional 4,707 shares during the period. Institutional investors own 66.74% of the company's stock.

NextDecade Company Profile

NextDecade Corp. is a development company.

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