NextDecade (NASDAQ:NEXT) Trading Down 4.5% – Here’s Why

NextDecade Co. (NASDAQ:NEXT)’s stock price dropped 4.5% during mid-day trading on Wednesday . The company traded as low as $7.34 and last traded at $7.42. Approximately 137,015 shares were traded during trading, a decline of 92% from the average daily volume of 1,818,727 shares. The stock had previously closed at $7.77.

NextDecade Trading Down 4.8 %

The company has a debt-to-equity ratio of 3.17, a current ratio of 0.49 and a quick ratio of 0.49. The business has a fifty day moving average of $8.02 and a 200-day moving average of $6.60. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -6.61 and a beta of 1.18.

NextDecade (NASDAQ:NEXT) last issued its earnings results on Thursday, February 27th. The company reported ($1.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.67). On average, equities analysts anticipate that NextDecade Co. will post -0.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Wolf Hill Capital Management LP boosted its stake in NextDecade by 330.1% in the 4th quarter. Wolf Hill Capital Management LP now owns 8,142,024 shares of the company’s stock worth $62,775,000 after purchasing an additional 6,248,757 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 2,286,050 shares in the last quarter. Millennium Management LLC boosted its position in shares of NextDecade by 262.2% in the fourth quarter. Millennium Management LLC now owns 1,276,202 shares of the company’s stock worth $9,840,000 after buying an additional 923,898 shares during the period. Geode Capital Management LLC grew its holdings in shares of NextDecade by 24.8% during the third quarter. Geode Capital Management LLC now owns 3,026,930 shares of the company’s stock valued at $14,260,000 after buying an additional 600,630 shares in the last quarter. Finally, Moore Capital Management LP acquired a new position in NextDecade during the fourth quarter valued at $2,815,000. 66.74% of the stock is owned by hedge funds and other institutional investors.

NextDecade Company Profile

NextDecade Corp. is a development company.