Insider Buying: NextDecade Co. (NASDAQ:NEXT) Major Shareholder Buys $87,681,817.50 in Stock

NextDecade Co. (NASDAQ:NEXT) major shareholder Hgc Next Inv Llc purchased 11,690,909 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were acquired at an average cost of $7.50 per share, for a total transaction of $87,681,817.50. Following the purchase, the insider now owns 17,536,369 shares of the company’s stock, valued at $131,522,767.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

NextDecade Price Performance

Shares of NEXT opened at $8.30 on Friday. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.56 and a current ratio of 0.56. The business has a fifty day moving average of $7.78 and a 200 day moving average of $6.40. NextDecade Co. has a 52-week low of $4.01 and a 52-week high of $8.52.

NextDecade (NASDAQ:NEXT) last released its earnings results on Thursday, May 9th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.64). On average, research analysts predict that NextDecade Co. will post -0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, TD Cowen upped their target price on shares of NextDecade from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, June 6th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Principal Financial Group Inc. bought a new stake in shares of NextDecade during the 1st quarter worth approximately $60,000. Amalgamated Bank boosted its stake in shares of 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. Banque Pictet & Cie SA bought a new position in shares of NextDecade in the second quarter worth about $108,000. Carlton Hofferkamp & Jenks Wealth Management LLC purchased a new position in NextDecade in the 1st quarter worth about $87,000. Finally, nVerses Capital LLC bought a new stake in NextDecade during the 2nd quarter valued at about $122,000. Hedge funds and other institutional investors own 66.74% of the company’s stock.

NextDecade Company Profile

NextDecade Corp. is a development company.