Why Did NEXT Stock Jump Over 2% In After-Hours Trading Today?

• Director Pamela Beall bought 71,500 shares of common stock on March 23
• Stocktwits sentiment for NEXT has slipped to ‘Bullish’ from ‘Extremely Bullish’ a day ago.
• NextDecade has gained roughly 39% this year.

NextDecade Corp. (NEXT) shares gained over 2% in the aftermarket session on Wednesday, driven by a director's purchase of the company's stock and volatility in oil prices amid a re-examination of prospects for de-escalation in the Middle East.

NEXT Insider Buy: Who Was Behind It?

On Wednesday, the liquefied natural gas development company disclosed that Pamela Beall, a director, purchased 71,500 shares at $7.07 each, for a total of $505,505.

The insider action comes amid raising crude oil prices. Brent futures rose by nearly 1% to $103.2 a barrel, while U.S. West Texas Intermediate crude futures rose about 1.1% to $91.4 a barrel on Wednesday as of 10:53 pm EDT.

Iran reportedly said that it is reviewing America’s 15-point action plan, but has no plans to hold talks to end the conflict, unless its demands are met.

NextDecade Targets 2027 Start At Texas Facility

Earlier this month, in its fourth-quarter update, NEXT Chairman and CEO Matt Schatzman said the company has 30 million tonnes per annum (MTPA) of LNG production capacity under construction.

NEXT also said it expects to start LNG production in the first half of 2027 at the Rio Grande facility in Texas, where it has about 48 MTPA of LNG capacity under construction and development.

Wall Street’s View On NEXT

Analysts have grown more cautious on the stock. Earlier this month, TD Cowen maintained a 'hold' rating on NextDecade Corporation but lowered its price target to $6 from $7, citing weaker projected spot margins of $3 per mcf (thousand cubic feet of gas) for 2027, down from an earlier estimate of $5 per mcf. However, the firm noted that NextDecade outlined a financing scenario even at the lower margin level, which could support higher contracted capacity and increased project-level debt.

In February, Morgan Stanley reiterated an 'equal weight' rating for NEXT while lowering its price target to $7 from $10, warning that the global LNG market could move into oversupply and noting limited near-term catalysts as projects remain under construction.

Across Wall Street analysts, two rate NEXT's stock a 'Buy' while others recommend 'Hold,' with an average price target of about $8, implying a near-8 % jump from current levels.

What Retail Traders Think Of NEXT

On Stocktwits, retail sentiment for NEXT slipped to ‘bullish’ from ‘extremely bullish’ a day ago, while message volumes dipped to ‘high’ from ‘extremely high’. 

One user said, “$NEXT wow nice insider buy even after this big run.”

Another added, “$NEXT, once it starts filling boats next year, it should be something good.”

Next Decade’s stock has surged about 39% this year.

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