NextDecade (NASDAQ:NEXT) Stock Price Down 5.8%

NextDecade Co. (NASDAQ:NEXT)’s stock price fell 5.8% during mid-day trading on Tuesday . The company traded as low as $7.27 and last traded at $7.33. 1,805,055 shares changed hands during trading, an increase of 32% from the average session volume of 1,362,482 shares. The stock had previously closed at $7.78.

Analyst Ratings Changes

Separately, TD Cowen upped their target price on NextDecade from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, June 6th.

NextDecade Stock Performance

The company’s 50 day moving average is $7.79 and its 200 day moving average is $6.45. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.56 and a quick ratio of 0.56.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.64). On average, analysts predict that NextDecade Co. will post -0.08 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Hgc Next Inv Llc bought 11,690,909 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was purchased at an average cost of $7.50 per share, for a total transaction of $87,681,817.50. Following the transaction, the insider now owns 17,536,369 shares in the company, valued at approximately $131,522,767.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director York Capital Management Global sold 35,072,737 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $7.50, for a total transaction of $263,045,527.50. Following the sale, the director now owns 4,264,298 shares in the company, valued at approximately $31,982,235. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Hgc Next Inv Llc acquired 11,690,909 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was purchased at an average cost of $7.50 per share, for a total transaction of $87,681,817.50. Following the completion of the purchase, the insider now directly owns 17,536,369 shares of the company’s stock, valued at $131,522,767.50. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On NextDecade

Several hedge funds and other institutional investors have recently modified their holdings of NEXT. Amalgamated Bank lifted its stake in NextDecade by 138.1% in the 4th quarter. Amalgamated Bank now owns 11,187 shares of the company’s stock valued at $53,000 after purchasing an additional 6,489 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of NextDecade in the 1st quarter valued at $60,000. Carlton Hofferkamp & Jenks Wealth Management LLC acquired a new stake in shares of NextDecade during the 1st quarter valued at $87,000. Banque Pictet & Cie SA acquired a new stake in shares of NextDecade during the 2nd quarter valued at $108,000. Finally, Arizona State Retirement System grew its position in NextDecade by 38.1% during the 4th quarter. Arizona State Retirement System now owns 23,622 shares of the company’s stock worth $113,000 after acquiring an additional 6,523 shares during the last quarter. Institutional investors own 66.74% of the company’s stock.

About NextDecade

NextDecade Corp. is a development company.