NEXT
NextDecade Corporation
NasdaqCMUSDEQUITY
Energy
DELAYED
Last price
7.14
▲ 0.14 (1.97%)
MARKET · —
Price
Too many bars for candle bodies at this width — showing high/low range per bar. Zoom in or pick a shorter range.
Open
7.00
Prev close
7.00
Day high
7.23
Day low
6.93
Volume
2.90M
Market cap
$1.90B
P/E (TTM)
—
52W range
4.75 – 11.27
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
120.73M
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Jun 15, 26 | STOVER DAVID L Director |
STOCK | 20.57K | $0 | Direct |
| Jun 15, 26 | BROWN CHARLES Q JR Director |
STOCK | 11.96K | $0 | Direct |
| Mar 23, 26 | BEALL PAMELA K. M. Director |
BUY | 71.50K | $505.50K | Indirect |
| Jan 30, 26 | BEALL PAMELA K. M. Director |
STOCK | 30.25K | $0 | Direct |
| Jan 30, 26 | VRATTOS WILLIAM Director |
STOCK | 51.98K | $0 | Direct |
| Jan 30, 26 | SANDS DIANA L. Director |
STOCK | 40.64K | $0 | Direct |
| Jan 30, 26 | WELLS LOUIS SPENCER Director |
STOCK | 30.25K | $0 | Direct |
| Jan 30, 26 | BELKE BRIAN Director |
STOCK | 49.15K | $0 | Direct |
| Jan 30, 26 | SCOGGINS EDWARD ANDREW JR. Director |
STOCK | 30.25K | $0 | Direct |
| Jan 30, 26 | CHAPMAN FRANK JOSEPH Director |
STOCK | 30.25K | $0 | Direct |
| Dec 12, 25 | HANWHA AEROSPACE CO., LTD Beneficial Owner of more than 10% of a Class of Security |
BUY | 1.65M | $9.40M | Direct |
| Dec 10, 25 | HANWHA AEROSPACE CO., LTD Beneficial Owner of more than 10% of a Class of Security |
BUY | 932.60K | $5.74M | Direct |
| Dec 5, 25 | HANWHA AEROSPACE CO., LTD Beneficial Owner of more than 10% of a Class of Security |
BUY | 636.96K | $3.91M | Direct |
| Dec 2, 25 | HANWHA AEROSPACE CO., LTD Beneficial Owner of more than 10% of a Class of Security |
BUY | 627.21K | $3.77M | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
BARDIN HILL INVESTMENT PARTNERS L.P. |
Beneficial Owner of more than 10% of a Class of Security | — | Purchase |
BELKE BRIAN |
Director | 440.92K | Stock Award(Grant) |
CHAPMAN FRANK JOSEPH |
Director | 285.43K | Stock Award(Grant) |
DE GYARFAS VERA |
General Counsel | 982.03K | Stock Award(Grant) |
GARCIA ERIC |
Officer | 402.38K | Stock Award(Grant) |
HANWHA AEROSPACE CO., LTD |
Beneficial Owner of more than 10% of a Class of Security | 43.96M | Purchase |
MOTT MICHAEL R |
Chief Financial Officer | 510.42K | Stock Award(Grant) |
SCHATZMAN MATTHEW K. |
Chief Executive Officer | 5.61M | Stock Award(Grant) |
VRATTOS WILLIAM |
Director | 1.42M | Stock Award(Grant) |
WAHL BRENT |
Chief Financial Officer | 1.52M | Stock Award(Grant) |
Unusual options activity
Flagged1
Total notional$50.48K
Call notional$50.48K
Put notional$0
Tiltcall-weighted
Likely opening1 of 1
| Side | Strike | Expiry | Volume | Open int. | Vol / OI | Notional | IV | Score | |
|---|---|---|---|---|---|---|---|---|---|
| CALL | 8.00 | Sep 18, 26 26d |
3.37K | 396 | 8.5× | $50.48K | 57% | mid | 62 |
How this is calculated, and what it cannot see
A contract is flagged when today's volume approaches or exceeds its open interest, the position is worth at least $40,000, and at least 150 contracts changed hands. Open interest is what was outstanding at yesterday's close, so volume above it means the flow cannot all be closing — something is being opened.
The score weights four things: volume against open interest, dollar notional, volume against the rest of that chain, and where the last print sat inside the bid/ask spread.
What it cannot see. Volume here is a daily total, so ten small orders and one large one are indistinguishable — this is not block or sweep detection, which needs exchange-level time and sales. The print column compares the last trade to the current quote, which is a proxy for who was the aggressor, not a tagged flag. Quotes are delayed. A single large trade can be a hedge, a roll, or one leg of a spread, and none of those mean what a naked directional bet would mean.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Options analytics
Put / call volume
0.05
Call-heavy session
Put / call open interest
0.47
Positioning, not flow
Max pain
7.00
-1.7% from spot
ATM implied vol
53.9%
Nearest strike to spot
Skew (10% OTM)
+7.8%
Puts bid over calls
Call volume
3.57K
Contracts, this expiry
Put volume
187
Contracts, this expiry
Heaviest call OI
7.00
2.61K contracts
Heaviest put OI
6.00
704 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Trailing performance
Returnvs SPY
1W
-0.97%
+0.4%
1M
-10.55%
-14.3%
3M
-15.74%
-18.8%
6M
+29.93%
+18.9%
YTD
+35.10%
+22.8%
1Y
-29.01%
-49.0%
3Y
+23.40%
-50.8%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Fundamentals
Market cap$1.90B
Enterprise value$15.34B
Revenue (TTM)—
Gross profit—
EBITDA$-218.38M
Net income$-358.59M
EPS (TTM)$-1.36
Free cash flow$-4.92B
Total cash$83.68M
Total debt$10.66B
Book value / share$-0.22
Shares outstanding266.19M
Float130.27M
Short % of float13.36%
Dividend yield—
Beta (5Y)1.56
Short interest
Shares short
19.73M
Prior 19.67M
Change vs prior
+0.3%
Shorts adding
% of float
13.36%
Elevated
% of shares out
7.41%
Against total outstanding
Days to cover
7.4
Crowded exit
Float
130.27M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Valuation & profitability ratios
Trailing P/E—
Forward P/E109.54
PEG ratio—
Price / sales—
Price / book—
EV / revenue—
EV / EBITDA-70.27
Gross margin0.00%
Operating margin0.00%
Profit margin0.00%
Return on equity-15.76%
Return on assets-1.23%
Debt / equity378.44
Current ratio0.37
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $0 | $0 | $0 | $0 | — |
| Operating revenue | $0 | $0 | $0 | $0 | — |
| Cost of revenue | $12.12M | $12.71M | $6.31M | $162.00K | -4.6% |
| Gross profit | -$12.12M | -$12.71M | -$6.31M | -$162.00K | +4.6% |
| Research & development | $8.01M | $8.26M | $4.89M | $4.10M | -3.1% |
| Selling, general & admin | $202.28M | $150.11M | $111.47M | $50.21M | +34.8% |
| Total operating expense | $213.81M | $158.37M | $116.36M | $54.31M | +35.0% |
| Operating income | -$225.93M | -$171.07M | -$122.67M | -$54.48M | -32.1% |
| Net interest income | -$170.01M | -$87.54M | -$50.28M | $0 | -94.2% |
| Pre-tax income | -$429.64M | $277.45M | -$221.64M | -$60.07M | -254.9% |
| Net income | -$306.43M | -$61.75M | -$162.26M | -$60.07M | -396.2% |
| Net income to common | -$306.43M | -$61.75M | -$182.75M | -$84.35M | -396.2% |
| Basic EPS | -1.17 | -0.24 | -0.94 | -0.65 | -387.5% |
| Diluted EPS | -1.17 | -0.24 | -0.94 | -0.65 | -387.5% |
| EBIT | -$340.10M | $299.65M | -$212.75M | -$60.07M | -213.5% |
| EBITDA | -$327.97M | $306.33M | -$209.60M | -$59.15M | -207.1% |
| Basic shares | 262.16M | 258.54M | 194.59M | 130.14M | +1.4% |
| Diluted shares | 262.16M | 258.54M | 194.59M | 130.14M | +1.4% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $143.78M | $148.14M | $38.24M | $62.79M | — | -2.9% |
| Cash & short-term investments | $143.78M | $148.14M | $38.24M | $62.79M | — | -2.9% |
| Total current assets | $718.05M | $412.57M | $314.52M | $63.94M | — | +74.0% |
| Property, plant & equipment | $10.73B | $5.19B | $2.61B | $220.12M | — | +106.9% |
| Goodwill & intangibles | — | — | — | — | $0 | — |
| Total assets | $12.43B | $6.40B | $3.32B | $312.43M | — | +94.0% |
| Total current liabilities | $1.34B | $595.08M | $552.39M | $25.36M | — | +124.5% |
| Long-term debt | $8.51B | $3.92B | $1.82B | — | — | +117.1% |
| Total debt | $8.66B | $4.07B | $1.97B | $1.56M | — | +112.8% |
| Total liabilities | $10.12B | $4.66B | $2.58B | $258.06M | — | +117.3% |
| Retained earnings | -$759.96M | -$453.52M | -$391.77M | -$230.14M | — | -67.6% |
| Shareholder equity | $95.34M | $377.64M | $287.92M | $54.37M | — | -74.8% |
| Working capital | -$617.98M | -$182.51M | -$237.86M | $38.58M | — | -238.6% |
| Net tangible assets | $95.34M | $377.64M | $287.92M | $54.37M | — | -74.8% |
| Shares issued | 269.70M | 263.39M | 258.70M | 144.49M | — | +2.4% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | -$429.64M | $277.45M | -$221.64M | -$60.07M | -254.9% |
| Depreciation & amortisation | $12.12M | $6.68M | $3.15M | $918.00K | +81.6% |
| Stock-based compensation | $39.21M | $19.91M | $26.55M | $7.47M | +97.0% |
| Change in working capital | $36.82M | $20.12M | -$4.14M | $5.50M | +83.0% |
| Operating cash flow | -$169.40M | -$95.58M | -$73.62M | -$40.08M | -77.2% |
| Capital expenditure | -$4.85B | -$2.57B | -$1.74B | -$33.75M | -88.8% |
| Investing cash flow | -$4.85B | -$2.57B | -$1.75B | -$40.89M | -88.5% |
| Dividends paid | $0 | $0 | -$53.00K | -$75.00K | — |
| Financing cash flow | $5.34B | $2.77B | $2.06B | $118.20M | +92.8% |
| Free cash flow | -$5.02B | -$2.66B | -$1.81B | -$73.83M | -88.3% |
| End cash position | $707.09M | $392.76M | $294.48M | $62.79M | +80.0% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Total revenue | $0 | $0 | $0 | $0 | $0 | — | — |
| Operating revenue | $0 | $0 | $0 | $0 | $0 | — | — |
| Cost of revenue | $7.90M | $3.03M | $3.02M | $2.98M | $393.00K | — | +160.5% |
| Gross profit | -$7.90M | -$3.03M | -$3.02M | -$2.98M | -$393.00K | — | -160.5% |
| Research & development | $2.85M | $2.14M | $3.57M | $2.88M | $1.25M | — | +33.0% |
| Selling, general & admin | $30.30M | $49.94M | $39.19M | $66.11M | $36.88M | — | -39.3% |
| Total operating expense | $46.67M | $52.08M | $42.76M | $68.99M | $55.88M | — | -10.4% |
| Operating income | -$54.57M | -$55.12M | -$45.78M | -$71.96M | -$56.27M | — | +1.0% |
| Net interest income | -$90.78M | -$79.25M | -$75.34M | -$38.63M | -$31.63M | — | -14.5% |
| Pre-tax income | -$60.18M | -$195.04M | $70.98M | -$184.76M | -$70.63M | — | +69.1% |
| Tax provision | $0 | — | — | — | $0 | — | — |
| Net income | -$65.43M | -$136.41M | -$47.28M | -$109.48M | -$60.87M | — | +52.0% |
| Net income to common | -$65.43M | -$136.41M | -$47.28M | -$109.48M | -$60.87M | — | +52.0% |
| Basic EPS | -0.25 | -0.51 | — | -0.42 | -0.23 | -0.34 | +51.0% |
| Diluted EPS | -0.25 | -0.51 | — | -0.42 | -0.23 | -0.34 | +51.0% |
| EBIT | $215.00K | -$145.34M | $65.85M | -$146.12M | -$55.99M | — | +100.1% |
| EBITDA | $8.64M | -$143.86M | $68.84M | -$143.16M | -$51.53M | — | +106.0% |
| Basic shares | 265.04M | 264.91M | — | 262.58M | 260.88M | 260.40M | +0.1% |
| Diluted shares | 265.39M | 264.91M | — | 262.58M | 260.88M | 260.40M | +0.2% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $83.68M | $143.12M | $143.78M | $209.40M | $158.54M | -41.5% |
| Cash & short-term investments | $83.68M | $143.12M | $143.78M | $209.40M | $158.54M | -41.5% |
| Total current assets | $631.91M | $487.52M | $718.05M | $764.82M | $476.85M | +29.6% |
| Property, plant & equipment | $13.65B | $11.80B | $10.73B | $8.63B | $6.75B | +15.7% |
| Total assets | $15.21B | $13.23B | $12.43B | $10.01B | $7.86B | +14.9% |
| Total current liabilities | $1.69B | $1.21B | $1.34B | $1.19B | $683.88M | +39.4% |
| Long-term debt | $10.02B | $9.36B | $8.51B | $6.61B | $5.17B | +7.1% |
| Total debt | $10.54B | $9.47B | $8.66B | $6.76B | $5.32B | +11.2% |
| Total liabilities | $12.39B | $10.87B | $10.12B | $8.03B | $6.00B | +14.0% |
| Retained earnings | -$961.79M | -$896.36M | -$759.96M | -$712.68M | -$603.20M | -7.3% |
| Shareholder equity | -$57.28M | -$30.71M | $95.34M | $154.49M | $260.48M | -86.5% |
| Working capital | -$1.06B | -$726.84M | -$617.98M | -$429.15M | -$207.04M | -45.9% |
| Net tangible assets | -$57.28M | -$30.71M | $95.34M | $154.49M | $260.48M | -86.5% |
| Shares issued | 264.93M | 269.83M | 269.70M | 269.10M | 264.10M | -1.8% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2024-12-31 | YoY |
|---|---|---|---|---|---|---|---|
| Net income | -$60.18M | -$195.04M | $70.98M | -$184.76M | -$70.63M | — | +69.1% |
| Depreciation & amortisation | $8.42M | $1.47M | $2.99M | $2.97M | $4.46M | — | +472.7% |
| Stock-based compensation | $5.35M | $5.45M | $12.33M | $13.05M | $7.23M | — | -1.9% |
| Change in working capital | $51.75M | -$44.37M | $37.79M | -$13.37M | $37.20M | — | +216.6% |
| Operating cash flow | -$17.18M | -$110.83M | -$20.66M | -$76.02M | -$3.90M | — | +84.5% |
| Capital expenditure | -$980.68M | -$1.18B | -$1.99B | -$1.36B | -$731.62M | — | +16.7% |
| Investing cash flow | -$1.03B | -$1.18B | -$1.97B | -$1.35B | -$751.93M | — | +12.7% |
| Dividends paid | — | — | — | — | — | $0 | — |
| Financing cash flow | $1.08B | $1.05B | $1.96B | $1.71B | $826.72M | — | +3.1% |
| Free cash flow | -$997.86M | -$1.29B | -$2.01B | -$1.43B | -$735.51M | — | +22.5% |
| End cash position | $499.57M | $465.06M | $707.09M | $744.67M | $457.04M | — | +7.4% |
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | -0.50 | -0.56 | -12.3% |
| Mar 2026 | -0.49 | -0.51 | -4.1% |
| Dec 2025 | -0.61 | -0.89 | -45.4% |
| Sep 2025 | -0.54 | -0.13 | +75.1% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | -0.53 | 1 | $0 | 0.0% |
| Next quarter | -0.75 | 2 | $0 | 0.0% |
| Current year | -2.10 | 1 | $0 | 0.0% |
| Next year | 0.07 | 2 | $1.74B | 0.0% |
Analyst targets & ownership
Mean target$9.25
High target$12.00
Low target$7.00
Implied upside29.59%
Analyst count6
ConsensusBUY
Strong buy / Buy0 / 3
Hold3
Sell / Strong sell0 / 0
Held by insiders45.35%
Held by institutions43.28%
Institutions holding284
Price targets, consensus spread, insider and institutional ownership.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Jul 16, 26 | Goldman Sachs | INITIATED | — | Neutral |
| May 13, 26 | Citigroup | INITIATED | — | Buy |
| Apr 21, 26 | Morgan Stanley | MAINTAINED | Equal-Weight | Equal-Weight |
| Feb 24, 26 | Morgan Stanley | MAINTAINED | Equal-Weight | Equal-Weight |
| Sep 15, 25 | TD Cowen | DOWNGRADE | Buy | Hold |
| Sep 12, 25 | Morgan Stanley | DOWNGRADE | Overweight | Equal-Weight |
| Jul 11, 25 | Morgan Stanley | MAINTAINED | Overweight | Overweight |
| Jun 6, 24 | TD Cowen | MAINTAINED | Hold | Hold |
| Aug 16, 23 | Wolfe Research | UPGRADE | Peer Perform | Outperform |
| Aug 15, 23 | Stifel | UPGRADE | Hold | Buy |
| Oct 26, 22 | Morgan Stanley | MAINTAINED | — | Overweight |
| Jul 28, 22 | Stifel | UPGRADE | Sell | Hold |
Moving averages & technicals
SMA 10
6.92
+3.20% from price
SMA 20
6.73
+5.81% from price
SMA 50
7.30
-2.47% from price
SMA 100
7.64
-6.59% from price
SMA 200
6.67
+6.74% from price
EMA 12
6.91
+3.24% from price
EMA 26
7.01
+1.84% from price
EMA 50
7.21
-0.97% from price
RSI (14)
51.9
Neutral
MACD (12,26,9)
-0.09
Hist 0.07
ATR (14)
0.33
4.68% of price
Realised vol 30D
68.3%
Annualised
Bollinger upper
7.25
20, 2σ
Bollinger lower
6.21
20, 2σ
50 / 200 cross
Golden
7.30 vs 6.67
Trend bias
Above 200
+6.74%
Risk profile
Beta vs SPY
-0.76
Less volatile than market
Correlation to SPY
-0.15
Largely independent
Realised vol 30D
68.3%
Annualised
Market vol 1Y
12.9%
SPY, annualised
Max drawdown 1Y
-55.2%
Peak to trough
Max drawdown 5Y
-60.0%
Peak to trough
ATR 14
0.33
4.68% of price
Beta (reported)
1.56
5Y monthly, from filing
SEC filings
Offering Registrations
S-8 · 2026-07-30
Corporate Changes & Voting Matters
8-K · 2026-07-02
Corporate Changes & Voting Matters
8-K · 2026-06-18
Corporate Changes & Voting Matters
8-K · 2026-06-03
Proxy Statements
DEFA14A · 2026-05-19
Offering Registrations
S-3ASR · 2026-05-13
Periodic Financial Reports
10-Q · 2026-05-01
Proxy Statements
DEF 14A · 2026-04-23
Headlines
NextDecade (NEXT) Q2 2026 Earnings Call Transcript
Motley Fool · 19d ago
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