NextDecade (NASDAQ:NEXT) Stock Price Down 2.9% – Time to Sell?

Shares of NextDecade Co. (NASDAQ:NEXT) dropped 2.9% during mid-day trading on Friday . The stock traded as low as $5.67 and last traded at $5.67. Approximately 163,653 shares were traded during trading, a decline of 89% from the average daily volume of 1,505,701 shares. The stock had previously closed at $5.84.

NextDecade Price Performance

The firm has a 50 day moving average of $5.04 and a two-hundred day moving average of $6.36. The company has a market cap of $1.48 billion, a PE ratio of -34.35 and a beta of 1.28. 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) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.28). Research analysts predict that NextDecade Co. will post -1.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextDecade

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. purchased a new stake in shares of NextDecade during the first quarter valued at $60,000. Marshall Wace LLP raised its holdings in shares of NextDecade by 21.9% during the second quarter. Marshall Wace LLP now owns 12,800 shares of the company’s stock valued at $102,000 after purchasing an additional 2,300 shares during the last quarter. Banque Pictet & Cie SA purchased a new position in shares of NextDecade during the second quarter valued at approximately $108,000. nVerses Capital LLC bought a new position in NextDecade during the second quarter valued at approximately $122,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in NextDecade in the third quarter worth approximately $77,000. 66.74% of the stock is owned by institutional investors.

NextDecade Company Profile

NextDecade Corp. is a development company.