NextDecade (NASDAQ:NEXT) Stock Price Down 9.3% – Should You Sell?

NextDecade Corporation (NASDAQ:NEXT)’s share price traded down 9.3% during trading on Monday . The stock traded as low as $7.70 and last traded at $7.6150. 596,550 shares changed hands during trading, a decline of 84% from the average session volume of 3,815,465 shares. The stock had previously closed at $8.40.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Weiss Ratings upgraded NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, April 27th. Citigroup initiated coverage on shares of NextDecade in a research note on Wednesday, May 13th. They set a “buy” rating and a $11.00 target price on the stock. TD Cowen cut their target price on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Thursday, March 5th. Finally, Morgan Stanley increased their target price 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 equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.00.

NextDecade Trading Up 7.3%

The firm has a fifty day simple moving average of $8.00 and a 200-day simple moving average of $6.53. The firm has a market cap of $2.07 billion, a P/E ratio of -5.82 and a beta of 1.60. The company has a debt-to-equity ratio of 3.96, a current ratio of 0.40 and a quick ratio of 0.40.

NextDecade (NASDAQ:NEXT) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.15. On average, equities research analysts expect that NextDecade Corporation will post -2.16 earnings per share for the current year.

Insider Buying and Selling at NextDecade

In other NextDecade news, Director Pamela K.M. Beall acquired 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On NextDecade

Several hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its position in shares of NextDecade by 302.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company’s stock worth $32,000 after acquiring an additional 3,161 shares in the last quarter. Empowered Funds LLC increased its position in shares of NextDecade by 11.6% during the first quarter. Empowered Funds LLC now owns 356,264 shares of the company’s stock worth $2,729,000 after acquiring an additional 36,917 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of NextDecade by 10.0% during the first quarter. The Manufacturers Life Insurance Company now owns 77,953 shares of the company’s stock worth $597,000 after acquiring an additional 7,087 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of NextDecade by 150.3% in the first quarter. Quantinno Capital Management LP now owns 195,185 shares of the company’s stock worth $1,495,000 after purchasing an additional 117,201 shares during the last quarter. Finally, Clough Capital Partners L P purchased a new stake in shares of NextDecade in the first quarter worth approximately $2,702,000. 66.74% of the stock is owned by 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.