NextDecade Target of Unusually Large Options Trading (NASDAQ:NEXT)

NextDecade Co. (NASDAQ:NEXT) was the target of unusually large options trading activity on Friday. Traders purchased 2,650 call options on the stock. This represents an increase of 57% compared to the typical daily volume of 1,687 call options.

NextDecade Stock Performance

Shares of NASDAQ:NEXT traded up $0.31 during trading on Friday, reaching $5.55. The company had a trading volume of 585,925 shares, compared to its average volume of 1,529,333. The company has a fifty day moving average of $4.99 and a two-hundred day moving average of $6.36. NextDecade has a 12 month low of $4.01 and a 12 month high of $8.52. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.45 and a quick ratio of 0.45.

NextDecade (NASDAQ:NEXT) last released its earnings results on Wednesday, August 14th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.28). Equities analysts expect that NextDecade will post -1.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Hgc Next Inv Llc bought 11,690,909 shares of the stock in a transaction 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 directly owns 17,536,369 shares of the company’s stock, valued at $131,522,767.50. This trade represents a 100.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Hgc Next Inv Llc purchased 11,690,909 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were purchased at an average price of $7.50 per share, with a total value of $87,681,817.50. Following the acquisition, the insider now directly owns 17,536,369 shares of the company’s stock, valued at approximately $131,522,767.50. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director York Capital Management Global sold 35,072,737 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $7.50, for a total transaction of $263,045,527.50. Following the completion of the transaction, the director now directly owns 4,264,298 shares in the company, valued at $31,982,235. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On NextDecade

Institutional investors have recently added to or reduced their stakes in the company. Mubadala Investment Co PJSC purchased a new stake in NextDecade during the 4th quarter valued at $67,764,000. SG Americas Securities LLC purchased a new stake in NextDecade during the 1st quarter valued at $1,726,000. Encompass Capital Advisors LLC purchased a new stake in NextDecade during the 2nd quarter valued at $23,231,000. Bank of New York Mellon Corp lifted its position in shares of NextDecade by 108.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 441,343 shares of the company’s stock worth $3,504,000 after purchasing an additional 229,646 shares during the period. Finally, Wolf Hill Capital Management LP purchased a new stake in shares of NextDecade in the 2nd quarter worth about $7,096,000. Hedge funds and other institutional investors own 66.74% of the company’s stock.

NextDecade Company Profile

NextDecade Corp. is a development company.