NextDecade (NASDAQ:NEXT) Stock Price Down 3.4%

NextDecade Co. (NASDAQ:NEXT)’s stock price dropped 3.4% during trading on Wednesday . The company traded as low as $4.78 and last traded at $4.79. Approximately 363,203 shares were traded during trading, a decline of 76% from the average daily volume of 1,533,354 shares. The stock had previously closed at $4.96.

Wall Street Analysts Forecast Growth

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

NextDecade Stock Down 3.6 %

The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 2.22. The stock’s fifty day moving average price is $6.02 and its two-hundred day moving average price is $6.42.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.28). On average, research analysts forecast that NextDecade Co. will post -1.23 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of NextDecade

A number of institutional investors and hedge funds have recently modified their holdings of NEXT. Amalgamated Bank raised its stake in shares of NextDecade by 138.1% during the 4th quarter. Amalgamated Bank now owns 11,187 shares of the company’s stock worth $53,000 after purchasing an additional 6,489 shares during the period. Principal Financial Group Inc. bought a new stake in NextDecade in the first quarter worth about $60,000. Carlton Hofferkamp & Jenks Wealth Management LLC purchased a new position in NextDecade in the first quarter valued at about $87,000. Marshall Wace LLP grew its position in shares of NextDecade by 21.9% during the 2nd quarter. Marshall Wace LLP now owns 12,800 shares of the company’s stock valued at $102,000 after acquiring an additional 2,300 shares during the period. Finally, Banque Pictet & Cie SA bought a new stake in shares of NextDecade in the 2nd quarter worth approximately $108,000. 66.74% of the stock is owned by hedge funds and other institutional investors.

NextDecade Company Profile

NextDecade Corp. is a development company.