Insider Buying: NextDecade (NASDAQ:NEXT) Major Shareholder Buys 243,959 Shares of Stock

NextDecade Corporation (NASDAQ:NEXT) major shareholder Aerospace Co. Ltd. Hanwha acquired 243,959 shares of the stock in a transaction on Thursday, December 4th. The shares were acquired at an average price of $6.19 per share, for a total transaction of $1,510,106.21. Following the acquisition, the insider owned 23,684,595 shares of the company’s stock, valued at approximately $146,607,643.05. The trade was a 1.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Aerospace Co. Ltd. Hanwha also recently made the following trade(s):

• On Friday, December 5th, Aerospace Co. Ltd. Hanwha acquired 151,058 shares of NextDecade stock. The shares were purchased at an average cost of $6.21 per share, for a total transaction of $938,070.18.
• On Wednesday, December 3rd, Aerospace Co. Ltd. Hanwha purchased 241,946 shares of NextDecade stock. The shares were acquired at an average price of $6.04 per share, for a total transaction of $1,461,353.84.
• On Tuesday, December 2nd, Aerospace Co. Ltd. Hanwha bought 310,964 shares of NextDecade stock. The stock was bought at an average price of $5.93 per share, for a total transaction of $1,844,016.52.
• On Monday, December 1st, Aerospace Co. Ltd. Hanwha acquired 205,160 shares of NextDecade stock. The stock was purchased at an average cost of $6.05 per share, with a total value of $1,241,218.00.
• On Friday, November 28th, Aerospace Co. Ltd. Hanwha acquired 111,084 shares of NextDecade stock. The shares were bought at an average cost of $6.12 per share, for a total transaction of $679,834.08.
• On Wednesday, November 26th, Aerospace Co. Ltd. Hanwha purchased 175,142 shares of NextDecade stock. The shares were purchased at an average price of $5.95 per share, with a total value of $1,042,094.90.
• On Tuesday, November 25th, Aerospace Co. Ltd. Hanwha bought 285,502 shares of NextDecade stock. The stock was bought at an average cost of $5.73 per share, for a total transaction of $1,635,926.46.
• On Monday, November 24th, Aerospace Co. Ltd. Hanwha acquired 445,109 shares of NextDecade stock. The stock was purchased at an average price of $5.59 per share, with a total value of $2,488,159.31.
• On Friday, November 21st, Aerospace Co. Ltd. Hanwha purchased 419,477 shares of NextDecade stock. The stock was acquired at an average cost of $5.73 per share, with a total value of $2,403,603.21.
• On Thursday, November 20th, Aerospace Co. Ltd. Hanwha purchased 347,630 shares of NextDecade stock. The stock was bought at an average cost of $6.02 per share, for a total transaction of $2,092,732.60.

NextDecade Trading Down 1.3%

Shares of NASDAQ:NEXT traded down $0.08 during midday trading on Friday, hitting $6.15. 2,170,396 shares of the stock traded hands, compared to its average volume of 2,746,704. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 3.34. The stock has a market capitalization of $1.63 billion, a PE ratio of -8.42 and a beta of 1.90. NextDecade Corporation has a one year low of $5.16 and a one year high of $12.12. The business’s 50 day moving average is $6.17 and its two-hundred day moving average is $8.19.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings results on Thursday, October 30th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.10). As a group, research analysts forecast that NextDecade Corporation will post -0.61 earnings per share for the current year.

Hedge Funds Weigh In On NextDecade

Large investors have recently bought and sold shares of the stock. MetLife Investment Management LLC grew its position in NextDecade by 2.4% during the 1st quarter. MetLife Investment Management LLC now owns 68,611 shares of the company’s stock worth $534,000 after purchasing an additional 1,602 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of NextDecade by 10.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,536 shares of the company’s stock valued at $160,000 after purchasing an additional 1,675 shares during the period. Alliancebernstein L.P. boosted its stake in shares of NextDecade by 1.5% during the 3rd quarter. Alliancebernstein L.P. now owns 122,020 shares of the company’s stock worth $829,000 after acquiring an additional 1,800 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of NextDecade by 137.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,261 shares of the company’s stock worth $25,000 after buying an additional 1,886 shares in the last quarter. Finally, Comerica Bank grew its position in shares of NextDecade by 88.0% in the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 66.74% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on NEXT. Morgan Stanley reiterated an “equal weight” rating and issued a $10.00 price objective (down from $15.00) on shares of NextDecade in a report on Friday, September 12th. Cowen cut NextDecade from a “buy” rating to a “hold” rating in a report on Monday, September 15th. Zacks Research upgraded NextDecade from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. TD Cowen cut their price objective on NextDecade from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, October 23rd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of NextDecade in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.50.

NextDecade Company Profile

NextDecade Corp. is a development company.