Stock Traders Purchase Large Volume of Call Options on NextDecade (NASDAQ:NEXT)

Posted by MarketBeat News on May 26th, 2023

NextDecade Co. (NASDAQ:NEXT – Get Rating) saw unusually large options trading activity on Thursday. Traders acquired 2,476 call options on the stock. This represents an increase of 151% compared to the average volume of 986 call options.

NextDecade Stock Down 2.4 %

Shares of NEXT stock opened at $5.71 on Friday. The company has a market capitalization of $859.75 million, a price-to-earnings ratio of -7.82 and a beta of 0.96. NextDecade has a 12-month low of $3.92 and a 12-month high of $8.95. The firm has a fifty day moving average of $5.38 and a 200-day moving average of $5.62.

Analysts Set New Price Targets

Separately, Evercore ISI decreased their target price on NextDecade from $13.50 to $12.00 in a research note on Monday, March 13th.

Institutional Trading of NextDecade

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A number of institutional investors have recently modified their holdings of the company. Valinor Management L.P. bought a new stake in NextDecade in the 4th quarter valued at approximately $73,417,000. BlackRock Inc. boosted its holdings in NextDecade by 4.1% during the first quarter. BlackRock Inc. now owns 3,735,882 shares of the company’s stock worth $18,567,000 after purchasing an additional 148,337 shares during the last quarter. Tortoise Capital Advisors L.L.C. acquired a new position in NextDecade during the fourth quarter worth $16,805,000. Vanguard Group Inc. increased its stake in NextDecade by 13.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,875,250 shares of the company’s stock valued at $17,308,000 after buying an additional 349,959 shares during the last quarter. Finally, Catalyst Capital Advisors LLC lifted its position in NextDecade by 3.1% during the 1st quarter. Catalyst Capital Advisors LLC now owns 2,768,405 shares of the company’s stock worth $13,759,000 after buying an additional 84,024 shares in the last quarter. 64.83% of the stock is currently owned by institutional investors.