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

NextDecade Co. (NASDAQ:NEXT) was the target of unusually large options trading activity on Friday. Investors purchased 4,278 call options on the company. This represents an increase of 27% compared to the typical daily volume of 3,378 call options.

Institutional Trading of NextDecade

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wolf Hill Capital Management LP lifted its position in NextDecade by 330.1% in the fourth quarter. Wolf Hill Capital Management LP now owns 8,142,024 shares of the company’s stock valued at $62,775,000 after purchasing an additional 6,248,757 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of NextDecade by 97.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 4,623,370 shares of the company’s stock valued at $21,776,000 after buying an additional 2,286,050 shares in the last quarter. Millennium Management LLC grew its holdings in 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 acquiring an additional 923,898 shares during the period. Geode Capital Management LLC raised its position in 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 acquiring an additional 600,630 shares in the last quarter. Finally, Moore Capital Management LP acquired a new stake in NextDecade in the fourth quarter valued at $2,815,000. Hedge funds and other institutional investors own 66.74% of the company’s stock.

NextDecade Stock Performance

Shares of NextDecade stock opened at $8.05 on Friday. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -7.19 and a beta of 1.18. The firm’s fifty day simple moving average is $8.06 and its 200-day simple moving average is $7.00. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.49 and a quick ratio of 0.49. NextDecade has a 12 month low of $4.27 and a 12 month high of $9.71.

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

About NextDecade

NextDecade Corp. is a development company.