NextDecade (NASDAQ:NEXT) Trading 3.4% Higher – Here’s Why

Posted by Amy Steele on Dec 31st, 2024

NextDecade Co. (NASDAQ:NEXT – Get Free Report)’s stock price shot up 3.4% on Tuesday . The company traded as high as $7.27 and last traded at $7.22. 1,214,735 shares were traded during mid-day trading, a decline of 23% from the average session volume of 1,573,855 shares. The stock had previously closed at $6.98.

NextDecade Price Performance

The stock has a fifty day moving average of $6.75 and a 200-day moving average of $6.35. The firm has a market capitalization of $1.93 billion, a P/E ratio of -6.63 and a beta of 1.29. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 3.17.

Institutional Trading of NextDecade

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in NextDecade by 24.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,026,930 shares of the company’s stock worth $14,260,000 after purchasing an additional 600,630 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of NextDecade in the 3rd quarter valued at $140,000. Wellington Management Group LLP bought a new stake in shares of NextDecade during the third quarter worth $488,000. State Street Corp lifted its stake in shares of NextDecade by 7.1% during the third quarter. State Street Corp now owns 2,330,172 shares of the company’s stock valued at $10,975,000 after acquiring an additional 155,309 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in NextDecade by 97.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 4,623,370 shares of the company’s stock valued at $21,776,000 after acquiring an additional 2,286,050 shares during the last quarter. 66.74% of the stock is owned by institutional investors.