NextDecade (NASDAQ:NEXT) Trading Down 6% – What’s Next?

NextDecade Co. (NASDAQ:NEXT)’s share price dropped 6% on Thursday . The company traded as low as $8.54 and last traded at $8.51. Approximately 939,315 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 1,719,004 shares. The stock had previously closed at $9.05.

NextDecade Stock Down 4.3 %

The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of -7.19 and a beta of 1.18. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.49 and a current ratio of 0.49. The business’s 50 day moving average is $8.06 and its 200-day moving average is $6.98.

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

Institutional Trading of NextDecade

Several hedge funds and other institutional investors have recently bought and sold shares of NEXT. Wolf Hill Capital Management LP lifted its stake in shares of NextDecade by 330.1% in the fourth quarter. Wolf Hill Capital Management LP now owns 8,142,024 shares of the company’s stock valued at $62,775,000 after buying an additional 6,248,757 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in shares of NextDecade by 97.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 4,623,370 shares of the company’s stock worth $21,776,000 after acquiring an additional 2,286,050 shares during the period. Millennium Management LLC grew its holdings in shares of NextDecade by 262.2% during the 4th quarter. Millennium Management LLC now owns 1,276,202 shares of the company’s stock worth $9,840,000 after purchasing an additional 923,898 shares in the last quarter. Geode Capital Management LLC increased its position 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 purchasing an additional 600,630 shares during the period. Finally, Moore Capital Management LP acquired a new position in shares of NextDecade in the fourth quarter valued at $2,815,000. 66.74% of the stock is currently owned by institutional investors and hedge funds.

About NextDecade

NextDecade Corp. is a development company.