NextDecade Target of Unusually Large Options Trading (NASDAQ:NEXT)

NextDecade Corporation (NASDAQ:NEXT) was the recipient of unusually large options trading on Friday. Stock investors acquired 55,831 call options on the stock. This is an increase of 461% compared to the average volume of 9,949 call options.

NextDecade Price Performance

NEXT stock traded up $0.23 during trading hours on Friday, hitting $9.15. 2,908,945 shares of the stock traded hands, compared to its average volume of 4,115,041. The stock has a 50-day simple moving average of $7.27 and a 200 day simple moving average of $6.14. NextDecade has a one year low of $4.75 and a one year high of $12.12. The company has a market cap of $2.42 billion, a P/E ratio of -6.79 and a beta of 1.65. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.96.

NextDecade (NASDAQ:NEXT) last announced its earnings results on Friday, February 27th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.20). Equities analysts forecast that NextDecade will post -2.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NEXT. Citigroup began coverage on NextDecade in a report on Wednesday. They set a “buy” rating and a $11.00 price target on the stock. TD Cowen lowered their price target on NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday, March 5th. Capital One Financial began coverage on NextDecade in a report on Friday, February 6th. They set an “overweight” rating and a $7.00 price target on the stock. Weiss Ratings raised NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th. Finally, Morgan Stanley raised their price target on NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, NextDecade presently has an average rating of “Hold” and a consensus price target of $8.00.

Insiders Place Their Bets

In related news, Director Pamela K.M. Beall bought 71,500 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were purchased at an average cost of $7.07 per share, with a total value of $505,505.00. Following the completion of the transaction, the director directly 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 filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NextDecade

A number of hedge funds and other institutional investors have recently modified their holdings of NEXT. Comerica Bank boosted its position in shares of NextDecade by 88.0% in 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 during the period. AQR Capital Management LLC acquired a new position in shares of NextDecade in the 1st quarter valued at $386,000. Millennium Management LLC boosted its position in shares of NextDecade by 10.1% in 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 during the period. Caxton Associates LLP acquired a new position in shares of NextDecade in the 1st quarter valued at $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of NextDecade by 13.9% in 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 during the period. Institutional investors and hedge funds own 66.74% of the company’s stock.

NextDecade Company Profile

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.