NextDecade (NASDAQ:NEXT) Trading Up 6.9%

NextDecade Co. (NASDAQ:NEXT) traded up 6.9% on Thursday . The stock traded as high as $4.72 and last traded at $4.67. 435,369 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 1,523,574 shares. The stock had previously closed at $4.37.

Wall Street Analysts Forecast Growth

Separately, TD Cowen upped their price objective 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 1.9 %

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 50 day simple moving average is $6.46 and its two-hundred day simple moving average is $6.41.

NextDecade (NASDAQ:NEXT) last released its earnings results on Wednesday, August 14th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.28). On average, sell-side analysts anticipate that NextDecade Co. will post -1.23 EPS for the current year.

Insider Activity at NextDecade

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

Institutional Investors Weigh In On NextDecade

Hedge funds and other institutional investors have recently modified their holdings of the stock. Amalgamated Bank grew its holdings in NextDecade by 138.1% during the fourth 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 period. Principal Financial Group Inc. bought a new position in shares of NextDecade during the first quarter worth $60,000. Carlton Hofferkamp & Jenks Wealth Management LLC bought a new stake in NextDecade in the 1st quarter valued at $87,000. Marshall Wace LLP lifted its stake in NextDecade by 21.9% in the 2nd quarter. Marshall Wace LLP now owns 12,800 shares of the company’s stock worth $102,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Banque Pictet & Cie SA purchased a new position in shares of NextDecade during the second quarter valued at about $108,000. 66.74% of the stock is currently owned by hedge funds and other institutional investors.

About NextDecade

NextDecade Corp. is a development company.