NextDecade (NASDAQ:NEXT) Stock Price Down 5.7% – Should You Sell?

NextDecade Corporation (NASDAQ:NEXT) shares dropped 5.7% during mid-day trading on Friday . The company traded as low as $7.02 and last traded at $7.0050. Approximately 1,201,273 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 4,238,612 shares. The stock had previously closed at $7.43.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Capital One Financial initiated coverage on shares of NextDecade in a report on Friday, February 6th. They set an “overweight” rating and a $7.00 target price on the stock. Morgan Stanley lifted their price target on shares of NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Tuesday. Weiss Ratings reissued a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. Finally, TD Cowen cut their price objective on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.00.

NextDecade Stock Down 4.8%

The company has a debt-to-equity ratio of 3.70, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a 50 day simple moving average of $6.63 and a 200-day simple moving average of $6.01. The firm has a market cap of $1.87 billion, a PE ratio of -6.03 and a beta of 1.69.

NextDecade (NASDAQ:NEXT) last released its earnings results on Friday, February 27th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.20). Sell-side analysts predict that NextDecade Corporation will post -3.04 EPS for the current fiscal year.

Insider Transactions at NextDecade

In other news, Director Pamela K.M. Beall acquired 71,500 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were bought at an average cost of $7.07 per share, with a total value of $505,505.00. Following the transaction, the director owned 71,500 shares of the company’s stock, valued at $505,505. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NEXT. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of NextDecade by 0.3% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 644,417 shares of the company’s stock valued at $4,936,000 after buying an additional 2,235 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in NextDecade by 433.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 18,259 shares of the company’s stock valued at $96,000 after purchasing an additional 14,836 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of NextDecade by 7.7% during the fourth quarter. Pacer Advisors Inc. now owns 266,111 shares of the company’s stock valued at $1,402,000 after buying an additional 19,045 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of NextDecade in the fourth quarter worth approximately $97,000. Finally, Invesco Ltd. grew its position in NextDecade by 5.1% in the 4th quarter. Invesco Ltd. now owns 82,717 shares of the company’s stock worth $436,000 after purchasing an additional 4,008 shares during the period. Institutional investors own 66.74% of the company’s stock.

About NextDecade

NextDecade Corporation is a Houston‐based liquefied natural gas (LNG) and decarbonization company focused on the development, engineering, construction and operation of large‐scale LNG export facilities. The company’s core mission is to deliver cleaner energy solutions to global customers while integrating carbon capture and sequestration technologies to reduce greenhouse gas emissions. NextDecade’s projects are designed to leverage abundant U.S. natural gas supplies to meet growing worldwide demand for low‐carbon fuel.

NextDecade’s flagship project, Rio Grande LNG, is located at the Port of Brownsville in southern Texas.