NextDecade (NASDAQ:NEXT) Shares Gap Up – Still a Buy?

NextDecade Co. (NASDAQ:NEXT)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $5.98, but opened at $6.60. NextDecade shares last traded at $7.30, with a volume of 220,459 shares.

NextDecade Trading Down 0.4 %

The stock has a market cap of $1.79 billion, a P/E ratio of -6.12 and a beta of 0.80. 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 stock’s fifty day moving average is $7.74 and its 200 day moving average is $7.12.

NextDecade (NASDAQ:NEXT) last released its earnings results on Thursday, February 27th. The company reported ($1.86) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($1.67). As a group, equities research analysts predict that NextDecade Co. will post -0.61 earnings per share for the current fiscal year.

Institutional Trading of NextDecade

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wolf Hill Capital Management LP raised its holdings 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 worth $62,775,000 after buying an additional 6,248,757 shares during the period. Millennium Management LLC lifted its position in shares of NextDecade by 262.2% during the fourth 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 during the last quarter. Geode Capital Management LLC grew its holdings in shares of NextDecade by 24.8% in the third 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. Moore Capital Management LP purchased a new position in NextDecade in the 4th quarter worth about $2,815,000. Finally, Westwood Holdings Group Inc. boosted its position in NextDecade by 47.3% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,075,532 shares of the company’s stock valued at $8,292,000 after buying an additional 345,489 shares during the period. 66.74% of the stock is owned by hedge funds and other institutional investors.

About NextDecade

NextDecade Corp. is a development company.