NextDecade (NASDAQ:NEXT) Sets New 52-Week Low – Time to Sell?

by · The Cerbat Gem

Shares of NextDecade Corporation (NASDAQ:NEXT – Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $5.12 and last traded at $5.2250, with a volume of 1942544 shares trading hands. The stock had previously closed at $5.46.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. TD Cowen reduced their price target on shares of NextDecade from $8.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, October 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of NextDecade in a research report on Monday. Morgan Stanley restated an “equal weight” rating and issued a $10.00 target price (down previously from $15.00) on shares of NextDecade in a research report on Friday, September 12th. Cowen cut NextDecade from a “buy” rating to a “hold” rating in a report on Monday, September 15th. Finally, Zacks Research raised NextDecade from a “strong sell” rating to a “hold” rating in a report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.50.

Read Our Latest Stock Report on NEXT

NextDecade Trading Up 1.3%

The business’s 50 day moving average price is $5.98 and its two-hundred day moving average price is $8.10. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -7.08 and a beta of 1.90.

NextDecade (NASDAQ:NEXT – Get Free Report) last announced its earnings results on Thursday, October 30th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.10). Equities analysts forecast that NextDecade Corporation will post -0.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Aerospace Co. Ltd. Hanwha bought 851,971 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were purchased at an average cost of $5.83 per share, with a total value of $4,966,990.93. Following the completion of the acquisition, the insider directly owned 25,620,222 shares in the company, valued at approximately $149,365,894.26. The trade was a 3.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 8,194,190 shares of company stock worth $49,502,922 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On NextDecade

Several large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its stake in shares of NextDecade by 137.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,261 shares of the company’s stock worth $25,000 after purchasing an additional 1,886 shares during the last quarter. US Bancorp DE lifted its stake in NextDecade by 22,782.4% during the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock valued at $26,000 after purchasing an additional 3,873 shares during the last quarter. Bessemer Group Inc. acquired a new stake in NextDecade during the third quarter valued at approximately $29,000. Comerica Bank boosted its holdings in NextDecade by 88.0% during the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after buying an additional 1,900 shares in the last quarter. Finally, AlphaQuest LLC grew its position in NextDecade by 102.2% in the second quarter. AlphaQuest LLC now owns 3,961 shares of the company’s stock worth $35,000 after buying an additional 2,002 shares during the last quarter. Institutional investors own 66.74% of the company’s stock.

NextDecade Company Profile

(Get Free Report)

NextDecade Corp. is a development company.

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