NextDecade (NASDAQ:NEXT) Shares Gap Up – What’s Next?

Posted by Joseph McCarthy on Nov 6th, 2024

NextDecade Co. (NASDAQ:NEXT – Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $5.95, but opened at $6.64. NextDecade shares last traded at $6.53, with a volume of 603,760 shares trading hands.

NextDecade Price Performance

The company has a fifty day moving average price of $5.10 and a two-hundred day moving average price of $6.35. The firm has a market capitalization of $1.77 billion, a PE ratio of -39.65 and a beta of 1.25. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 2.22.

NextDecade (NASDAQ:NEXT – Get Free Report) last announced its earnings results on Wednesday, August 14th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.28). Sell-side analysts forecast that NextDecade Co. will post -1.01 earnings per share for the current year.

Institutional Trading of NextDecade

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of NextDecade in the first quarter valued at approximately $1,726,000. Encompass Capital Advisors LLC purchased a new position in NextDecade in the 2nd quarter valued at $23,231,000. Catalyst Capital Advisors LLC increased its stake in NextDecade by 4.3% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 3,627,416 shares of the company’s stock valued at $17,085,000 after buying an additional 150,800 shares during the period. Bank of New York Mellon Corp raised its position in NextDecade by 108.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 441,343 shares of the company’s stock worth $3,504,000 after buying an additional 229,646 shares during the last quarter. Finally, Wolf Hill Capital Management LP purchased a new stake in shares of NextDecade in the second quarter valued at about $7,096,000. 66.74% of the stock is owned by hedge funds and other institutional investors.