NextDecade (NASDAQ:NEXT) Shares Down 6.5% – Time to Sell?

Shares of NextDecade Corporation (NASDAQ:NEXT) traded down 6.5% during mid-day trading on Friday . The stock traded as low as $7.74 and last traded at $7.3230. 356,599 shares were traded during trading, a decline of 91% from the average session volume of 4,148,977 shares. The stock had previously closed at $7.83.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Capital One Financial assumed coverage on shares of NextDecade in a research note on Friday, February 6th. They set an “overweight” rating and a $7.00 price target for the company. TD Cowen decreased their price target on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. Weiss Ratings upgraded shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Finally, Morgan Stanley raised their price target on shares of NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, NextDecade has an average rating of “Hold” and an average price target of $7.00.

NextDecade Price Performance

The firm has a market capitalization of $2.06 billion, a PE ratio of -6.67 and a beta of 1.69. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.54 and a current ratio of 0.54. The business’s 50 day moving average is $6.85 and its two-hundred day moving average is $6.02.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings data on Friday, February 27th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.20). Equities research analysts anticipate that NextDecade Corporation will post -3.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NextDecade news, Director Pamela K.M. Beall acquired 71,500 shares of NextDecade stock in a transaction that occurred on Monday, March 23rd. The stock was acquired at an average cost of $7.07 per share, for a total transaction of $505,505.00. Following the purchase, the director owned 71,500 shares of the company’s stock, valued at approximately $505,505. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NEXT. Comerica Bank grew its position in shares of 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 purchasing an additional 1,900 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of NextDecade during the 1st quarter valued at $386,000. Millennium Management LLC grew its position in shares of NextDecade by 10.1% during the 1st quarter. Millennium Management LLC now owns 1,404,770 shares of the company’s stock valued at $10,929,000 after purchasing an additional 128,568 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of NextDecade during the 1st quarter valued at $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of NextDecade by 13.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 277,307 shares of the company’s stock valued at $2,157,000 after purchasing an additional 33,941 shares in the last quarter. 66.74% of the stock is currently owned by hedge funds and other institutional investors.

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.