NEXT NextDecade Corporation Common Stock

XNAS 5.76 Delayed
Find condors

Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading

Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.

NEXT $5.76 —
Key stats
$5.76
52-Week Range
$4.75 – $9.24
YTD
+7.16%
IV Rank (30D)
43.35
Straddle Price
$0.78
P/C Vol Ratio
1.78
Market Cap
$1.6B
Open
$6.05
Day Range
$5.70 – $6.16
Volume
1,445,094
Prev Close
$6.05
Fair Value
MODEL: LONG

A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.

  • DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
  • Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
  • DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
  • P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
  • Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
  • Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
  • Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
  • Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
10-yr Treasury (rf)5.15%
Beta vs SPY1.11
Cost of Equity (CAPM)11.26% (VRP-adj)
WACC6.10%
Volatility Risk Premium+84.2pp (IV − HV30), ERP adj +50bps
Effective Tax Rate21.0%
Rev. Growth (YoY, DCF input)+3.0%
DCF Horizon5 years explicit + fade
Forward Tilt (NTM/TTM)×1.03 (applied to P/E, EV/EBITDA, P/S)
Free Cash Flow (TTM)$-5.7B
Return on Equity (TTM)626.0%
Book / Price176.5% — banking bias active (P/B is primary)
Debt / Equity3.70
Quality Score1/6 — cyclical/struggling (5y DCF)
SMA 50$6.90 (Market Anchor value)
SMA 20 / Bollinger Mid$6.45
Bollinger Width / SMA20238.0% (drives anchor stability)
Net Debt$10.3B
Market Cap$2B
Peers used for multiples: EPD, KNTK, LNG, OKE, SRE, TRP, WES, WMB
60-Day Conviction
40%
20-Day Fair Value
≈ by Nov 20, 2026
$5.81
α +0.4% rank 86%
conviction
29%
40-Day Fair Value
≈ by Dec 21, 2026
$5.98
α +3.3% rank 87%
conviction
89%
60-Day Fair Value
≈ by Jan 19, 2027
$5.85
α +1.1% rank 87%
conviction
40%
MethodImplied PriceWeightDetail
DCF n/a 0%
DDM (Gordon) n/a 0%
Peer P/E n/a 0% median 20.2× · 7 peers
Peer EV/EBITDA n/a 0% median 12.0× · 7 peers
Peer P/B $37.16 7% median 3.5× · 6 peers
Peer P/S n/a 0% median 2.7× · 7 peers
Market Anchor (SMA50) $6.90 93% stability 61% (BB-width)
Options Expected (B-L 30d) $6.17 0% 8 strikes · skew +0.41
As of 2026-10-22 · updated
About
Industry (SIC)
NATURAL GAS TRANSMISSION & DISTRIBUTION (4923) · industry map
Exchange
XNAS
Market Cap
$1.6B
Employees
360
List Date
2015-04-10
CIK
0001612720
Next Earnings
2026-10-29 (Pre-Market)
EPS Forecast
($0.35) (1 est.)
Headquarters
Houston, TX
Homepage
https://www.next-decade.com

NextDecade Corp is a Houston-based energy company engaged in construction and development activities related to the liquefaction of natural gas, the sale of LNG, and the capture and storage of CO2 emissions. The group is constructing and developing a natural gas liquefaction and export facility located in the Rio Grande Valley near Brownsville, Texas (the Rio Grande LNG Facility). It also engaged in NEXT Carbon Solutions, advancing proprietary processes to lower the cost of utilizing carbon capture and storage (CCS) and help companies reduce their emissions and achieve their clean energy goals…

Summary
—
composite
—
No summary data available for this symbol yet.

Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.

Chart
Seasonality
'21'22'23'24'25'26Avg
Jan9.91%-26.33%28.82%8.76%2.17%-1.67%3.61%
Feb-15.02%46.75%20.27%-9.82%-4.20%6.10%7.35%
Mar28.37%98.80%-31.45%17.11%7.16%36.54%26.09%
Apr-15.97%-19.45%29.52%16.09%-2.60%6.68%2.38%
May-12.27%16.05%-8.87%11.79%11.59%1.02%3.22%
Jun82.74%-41.35%46.61%6.43%12.64%-8.94%16.36%
Jul-18.36%59.95%-31.57%4.24%31.94%-11.05%5.86%
Aug0.30%3.66%10.36%-43.99%-3.42%14.24%-3.14%
Sep-15.50%-11.08%-18.21%6.56%-36.48%-16.67%-15.23%
Oct30.60%9.03%-10.04%25.86%-10.15%-8.32%*6.16%
Nov-17.40%-20.38%11.14%34.32%4.09%--2.35%
Dec-8.06%-6.62%-8.80%10.46%-11.73%---4.95%
Total10.85%40.83%3.51%84.32%-14.19%8.52%22.30%
Technical Indicators

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators
  • SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
  • EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
  • MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
  • ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
  • +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
  • RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
  • Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
  • Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility
  • Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
  • OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
  • Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
  • ATR / True Range — average daily $ move; sizing and stop-loss reference.
  • HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $6.41
SMA 50: $6.88
SMA 200: $6.91
Current: $5.80
EMA 12: $6.26
EMA 26: $6.50
MACD: -0.2418 | Signal: -0.0462
BEARISH
ADX (14): 21.92
WEAK TREND
+DI: 13.41
−DI: 29.73

Momentum Oscillators

RSI (14): 32.23
NEUTRAL
Stoch %K: 19.64
Stoch %D: 28.47
Williams %R: -91.98

Volume & Volatility

BB Upper: $6.97
BB Lower: $5.85
OVERSOLD
OBV: 8,593,654
Vol SMA 20: 2,641,026
Vol ROC: -42.38%
ATR: $0.33
True Range: $0.46
HV 20: 51.4%
HV 30: 44.8%
HV 60: 45.0%

Data Summary

Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis

LLM Stock Analysis Report

Executive Summary Overall Assessment: BULLISH (Confidence Level: 7/10) Key Drivers: Positive news sentiment, strong momentum signals Primary Risks: High volatility, negative beta

Investment Thesis: NextDecade's stock price is likely to continue its upward trend due to the positive news sentiment and strong momentum signals. The company's recent announcements have generated enthusiasm among investors, which is reflected in the stock's performance.

Recent News Sentiment Impact: The recent news headlines are overwhelmingly positive, with four out of six articles having a positive tone. This has contributed to the stock's upward move, as investors become more optimistic about the company's prospects.

Technical Analysis Trend Direction: Short-term (1-4 weeks) - Uptrend, Medium-term (1-3 months) - Uptrend Support/Resistance Levels:

  • SMA 20: $7.24 (support)
  • EMA 12: $7.39 (resistance)

Momentum Signals:

  • RSI interpretation: Neutral (57.50), indicating no oversold or overbought conditions.
  • MACD signal: Bullish, with a histogram value of 0.07.

Volume Analysis:

  • Volume SMA 20: 2278586.40, indicating moderate volume.
  • On-Balance Volume (OBV): 41349837.18, showing an uptrend in volume.

News & Sentiment Analysis Recent Headlines Summary: The news headlines are predominantly positive, with investors enthusiastic about the company's recent announcements.

Sentiment Assessment: Positive

Catalyst Identification: Upcoming earnings reports and potential regulatory changes could impact the stock price.

Market Narrative: The positive news sentiment aligns with the technical signals, indicating a strong uptrend.

Risk & Volatility Assessment Beta Interpretation: Negative beta (-0.76), indicating that the stock moves opposite to the market.

Volatility Regime: Current volatility is lower than historical levels (HV30).

Options Market Signals:

  • IV Rank: 21.5% (Low)
  • Put/Call Volume Ratio: 0.19 (Bullish sentiment)

Downside Protection: The stock's support level at $7.24 could serve as a potential floor.

Market Context & Positioning Sector Performance: NextDecade is outperforming its sector peers, indicating strength within the broader market.

Institutional Activity: Moderate volume and increasing open interest suggest institutional investors are interested in the stock.

Correlation Analysis: The stock's correlation with the SPY is negative (-0.15), indicating that it moves opposite to the market.

Relative Valuation: NextDecade is trading near its upper Bollinger Band, suggesting that the stock may be overbought.

Key Levels & Action Items Critical Price Levels:

  • Support: $7.24 (SMA 20)
  • Resistance: $7.39 (EMA 12)

Breakout/Breakdown Levels:

  • Breakout above $7.80 could trigger further buying.
  • Breakdown below $6.68 could signal a potential reversal.

Time-Sensitive Catalysts: Earnings reports and regulatory changes are upcoming events that could impact the stock price.

Risk Management: Stop-loss levels should be set around $7.10, with position sizing considerations based on market conditions.

Conclusion NextDecade's strong technical signals, positive news sentiment, and relative strength within its sector suggest a continued uptrend. However, high volatility and negative beta pose potential risks. Investors should monitor the stock's performance and adjust their positions accordingly.

Generated
News
All NEXT news →

NEXT Options Activity & IV Rank

NEXT IV rank history, 52-week IV rank and IV percentile →

Volatility Metrics

Current IV: 59.8%
7-DTE IV: —
Expected Move: $0.78
7-DTE Move: $0.78
Days to Exp: 29 (2026-11-20)

Options Flow

Call Volume: 887
Put Volume: 1,583
P/C Volume: 1.785
BEARISH
Call OI: 17,032
Put OI: 3,950
P/C OI: 0.232
Total OI: 20,982

ATM Options Pricing

ATM Call: $0.28
ATM Put: $0.50
Call %: 4.8%
Put %: 8.7%

Chain Summary

Chain Volume: 6,175
Chain OI: 171,898
Last Updated: 10/22/2026
Spread Scanner GPU
Full Algorithm Docs ↗

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score (GPU scanner)

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
  • RSI <40 bullish / >60 bearish
  • MACD crossover + histogram trend
  • Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
  • Stochastic %K <20 / >80
  • Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
  • Blended ATR + straddle expected-move penalty
  • Bollinger Band signal (+ counter-trend penalty)
  • BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
  • IV rank ≥ 75 → strong boost for credit spreads
  • IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
  • Min open interest across all legs
  • OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Enter a ticker to scan for optimal spread opportunities.

Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.

Dealer Positioning
TYPICAL γ

Estimated net dealer gamma is at the 21st percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.

Gamma percentile
21%
vs own history
GEX tilt
+0.01
OI-weighted, today
Vanna tilt
-0.34
δ-sensitivity to IV
Charm tilt
+0.15
δ-decay vs time
Vanna tilt -0.34: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably if implied volatility changed.

Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.

Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.

Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.

This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.

· 9 ATM contracts, 16k total OI
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.

  • Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
  • Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
  • Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
  • Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each side

Which side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.

  • Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
  • Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
  • Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
  • Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together

Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:

  • High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
  • Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
  • Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d —
— pts EXTREME
No data
30 DTE / 10d —
— pts EXTREME
ATM 56.4% / Wing —

Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.

Volatility Surface

Enter a ticker to render the implied volatility surface.

Volatility Smile

Enter a ticker to render the implied volatility smile.

IV Rank (7 DTE)
IV Rank (30 DTE)43.4MediumOct 22
Straddle Price (30 DTE)$0.78Oct 22
Beta Analysis

Risk Metrics

Beta: -0.6192
Alpha: 25.49%
Correlation: -0.1317
R-Squared: 1.7%
Stock Volatility: 59.9%
Market Volatility: 12.7%

Analysis Details

Benchmark: SPY
Data Points: 251
Period: 252 trading days
Interpretation:
Negative beta - stock moves opposite to market
Beta & Alpha Over Time
Notable investors who own NEXT
3 of 37 tracked investors
InvestorValueShare of their portfolioRankQ/Q sharesSource
Millennium Management Hedge fund
Izzy Englander
$17.0M
0.01%
#1224 of 3716-11.7%13F
Citadel Hedge fund
Ken Griffin
$507K
0.00%
#4454 of 6285-88.6%13F
Rockefeller Capital Management Family office
Rockefeller family
$88K
0.00%
#3058 of 4729+14.0%13F

Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions

NEXT Institutional Ownership (13F)

Latest filings — 2026-09-30
Diluted shares outstanding: 263,760,000 (as of 2026-06-30)

Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.

  • Shares — long equity positions in this name, aggregated across share classes.
  • Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
  • % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
  • Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.

Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.

224 filers122,845,722 shares$899.14M value46.57% of float
# Filer Shares Value % of Total % of Float Period
1 BlackRock, Inc. Custodian 23,820,718 $179.61M 19.98% 9.03% 2026-06-30
2 Mubadala Investment Co PJSC 14,206,376 $107.12M 11.91% 5.39% 2026-06-30
3 Man Investment Partners (US) LP 9,274,894 $69.93M 7.78% 3.52% 2026-06-30
4 Vanguard Group Inc Custodian 9,220,848 $48.59M 5.40% 3.50% 2025-12-31
5 Vanguard Capital Management LLC 5,530,334 $41.70M 4.64% 2.10% 2026-06-30
6 Catalyst Capital Advisors LLC 5,216,592 $39.33M 4.37% 1.98% 2026-06-30
7 Geode Capital Management, LLC Custodian 4,251,461 $32.06M 3.57% 1.61% 2026-06-30
8 York Capital Management Global Advisors, LLC 4,264,298 $28.95M 3.22% 1.62% 2025-09-30
9 State Street Corp 3,799,466 $28.65M 3.19% 1.44% 2026-06-30
10 Vanguard Portfolio Management LLC 2,483,302 $18.72M 2.08% 0.94% 2026-06-30
11 Millennium Management LLC Custodian 2,254,323 $17.00M 1.89% 0.85% 2026-06-30
12 NEOS Investment Management LLC 2,158,224 $16.27M 1.81% 0.82% 2026-06-30
13 HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 2,130,800 $16.07M 1.79% 0.81% 2026-06-30
14 Balyasny Asset Management L.P. 1,926,956 $14.53M 1.62% 0.73% 2026-06-30
15 Bank of America Corp Custodian 1,911,869 $14.42M 1.60% 0.72% 2026-06-30
16 Kestra Advisory Services, LLC 1,464,047 $11.04M 1.23% 0.56% 2026-06-30
17 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 1,461,169 $11.02M 1.23% 0.55% 2026-06-30
18 WESTWOOD HOLDINGS GROUP INC 1,412,509 $10.65M 1.18% 0.54% 2026-06-30
19 Northern Trust Corp Custodian 1,339,554 $10.10M 1.12% 0.51% 2026-06-30
20 JPMorgan Chase & Co Custodian 1,349,621 $9.98M 1.11% 0.51% 2026-06-30
21 Charles Schwab Investment Management, Inc. 1,237,688 $9.33M 1.04% 0.47% 2026-06-30
22 Freshford Capital Management, LLC 1,180,872 $8.90M 0.99% 0.45% 2026-06-30
23 Yaupon Capital Management LP 1,003,907 $7.57M 0.84% 0.38% 2026-06-30
24 HRT FINANCIAL LP 975,323 $7.35M 0.82% 0.37% 2026-06-30
25 Vanguard Fiduciary Trust Co 937,490 $7.07M 0.79% 0.36% 2026-06-30
16 filers$109.46M notional
# Filer Notional Value % of Total Period
1 Citadel Advisors LLC Custodian $34.47M 31.49% 2026-06-30
2 Jane Street Group, LLC Custodian $21.84M 19.95% 2026-06-30
3 Balyasny Asset Management L.P. $15.08M 13.78% 2026-06-30
4 PEAK6 LLC $9.83M 8.98% 2026-06-30
5 Caption Management, LLC $9.55M 8.72% 2026-06-30
6 Susquehanna International Group, LLP Custodian $7.57M 6.92% 2026-06-30
7 NOMURA HOLDINGS INC $3.77M 3.44% 2026-06-30
8 Point72 Asset Management, L.P. $2.47M 2.26% 2026-06-30
9 Wolverine Trading, LLC Custodian $1.11M 1.02% 2025-09-30
10 D. E. Shaw & Co., Inc. Custodian $1.07M 0.98% 2026-06-30
11 Walleye Trading LLC $869.36K 0.79% 2026-06-30
12 CAPITAL FUND MANAGEMENT S.A. $848.25K 0.77% 2026-06-30
13 Walleye Capital LLC $449.38K 0.41% 2026-06-30
14 Squarepoint Ops LLC $315.17K 0.29% 2026-06-30
15 TUDOR INVESTMENT CORP ET AL $223.18K 0.20% 2026-06-30
16 Cerity Partners LLC Custodian $1.51K <0.01% 2026-06-30
12 filers$22.99M notional
# Filer Notional Value % of Total Period
1 Jane Street Group, LLC Custodian $6.49M 28.25% 2026-06-30
2 Susquehanna International Group, LLP Custodian $4.44M 19.34% 2026-06-30
3 Citadel Advisors LLC Custodian $3.41M 14.84% 2026-06-30
4 Caption Management, LLC $3.19M 13.87% 2026-06-30
5 D. E. Shaw & Co., Inc. Custodian $1.51M 6.56% 2026-06-30
6 Walleye Capital LLC $832.42K 3.62% 2026-06-30
7 TUDOR INVESTMENT CORP ET AL $754.00K 3.28% 2026-06-30
8 Walleye Trading LLC $602.45K 2.62% 2026-06-30
9 Wolverine Trading, LLC Custodian $579.63K 2.52% 2025-09-30
10 Point72 Asset Management, L.P. $553.44K 2.41% 2026-06-30
11 Squarepoint Ops LLC $339.30K 1.48% 2026-06-30
12 CAPITAL FUND MANAGEMENT S.A. $277.47K 1.21% 2026-06-30

NEXT Insider Trading (Form 4)

Latest: 2026-10-19
Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
Filed Reporter Role Action Shares Avg Price Net $ Link
2026-10-19 Matthew K Schatzman Chief Executive Officer Tax (F) −43,976 $6.26 -$275.3K EDGAR
2026-10-19 Tarik Skeik Chief Operating Officer Tax (F) −9,773 $6.26 -$61.2K EDGAR
2026-10-19 Vera de Gyarfas General Counsel Tax (F) −9,773 $6.26 -$61.2K EDGAR
2026-10-16 Luke Boylston Chief Accounting Officer Tax (F) −19,675 $6.80 -$133.8K EDGAR
2026-09-11 Vera de Gyarfas General Counsel Tax (F) −15,463 $7.54 -$116.6K EDGAR
2026-09-11 Tarik Skeik Chief Operating Officer Tax (F) −7,732 $7.54 -$58.3K EDGAR
2026-09-11 Matthew K Schatzman Chief Executive Officer Tax (F) −69,583 $7.54 -$524.7K EDGAR
2026-09-02 Luke Boylston Chief Accounting Officer Mixed +17,309 $7.54 -$49.5K EDGAR
2026-09-02 Tarik Skeik Chief Operating Officer Mixed +81,426 $7.54 -$136.0K EDGAR
2026-09-02 John Zuklic Chief Financial Officer Award (A) +139,257 — EDGAR
2026-09-02 Vera de Gyarfas General Counsel Mixed +102,247 $7.54 -$229.1K EDGAR
2026-09-02 Matthew K Schatzman Chief Executive Officer Mixed +328,262 $7.54 -$1.02M EDGAR
2026-07-13 Matthew K Schatzman Chief Executive Officer Tax (F) −266,531 $7.99 -$2.13M EDGAR
2026-07-13 Vera de Gyarfas General Counsel Tax (F) −51,935 $7.99 -$415.0K EDGAR
2026-06-16 David L Stover Director Award (A) +20,565 — EDGAR
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.

NEXT Insider Holdings

19 insiders · @ $5.80
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
# Insider Role Shares Disclosed Exposure Lifetime OM Net Filings Last Filed
1 Hanwha Aerospace Co., Ltd. 10%+ Owner 43,956,591 $254.89M $53.70M 10 2025-12-15
2 John Winand Greene JR Director 9,449,846 $54.80M $0 4 2025-11-19
3 Pratik Desai Director 9,274,894 $53.78M $17.45M 4 2025-09-18
4 Matthew K Schatzman Chief Executive Officer 5,275,550 $30.59M $2.01M 31 2026-10-19
5 Brent Wahl Chief Financial Officer 1,440,639 $8.35M $0 21 2025-10-20
6 Vera de Gyarfas General Counsel 945,330 $5.48M $0 23 2026-10-19
7 Michael Mott Interim CFO 489,554 $2.84M $0 1 2025-10-20
8 Brian Belke Director 440,919 $2.56M $0 9 2026-02-03
9 William C Vrattos Director 385,068 $2.23M $4.34M 7 2026-02-03
10 Tarik Skeik Chief Operating Officer 345,769 $2.00M $0 7 2026-10-19
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.

NEXT Board & Officers

As of SEC filings through Oct 19, 2026

Directors 15

Officers 5

10% owners 1

Changes in the last 10 years (183)
Sep 2, 2026Luke Boylston listed as Chief Accounting Officer (previously Controller) in SEC filings
Jul 6, 2026John Zuklic became Chief Financial Officer
Jun 3, 2026David L Stover became a director
Jun 3, 2026Charles Q. Brown Jr. became a director
Nov 19, 2025Man Investment Partners (US) LP first listed as a director in an SEC filing
Oct 20, 2025Brent Wahl reported in an SEC filing no longer being CFO
Oct 7, 2025Michael Mott became Interim CFO
Jul 29, 2025Pamela K.M. Beall became a director
Jul 29, 2025In Kyu Park became a director
Jul 29, 2025Diana L Sands became a director
Jun 13, 2025The company announced the departure of Tim Wyatt from the board in an SEC filing
Mar 27, 2025Luke Boylston became Controller
Nov 15, 2024Pratik Desai no longer listed as a director in SEC filings
Nov 15, 2024Man Investment Partners (US) LP no longer listed as a director in SEC filings
Nov 15, 2024John Winand Greene JR no longer listed as a director in SEC filings
Nov 15, 2024Jason Dillow no longer listed as a director in SEC filings
Nov 15, 2024Bardin Hill Fund GP LLC no longer listed as a director in SEC filings
Nov 15, 2024Bardin Hill Event-Driven Master Fund LP no longer listed as a director in SEC filings
Nov 15, 2024Avinash Kripalani no longer listed as a director in SEC filings
Oct 17, 2024Arnaud Lenail-Chouteau became a director
Not reported recently (58)
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.

NEXT Proposed Insider Sales (Form 144)

Latest: 2026-10-21
Last 30d: 1 filing · $26K notice value  ·  Last 90d: 1 filing · $26K notice value · 1 unique filer

What is Form 144? A notice of intent to sell restricted or control stock under Rule 144. Affiliates (officers, directors, 10%+ owners) and holders of restricted shares must file Form 144 when planning to sell more than 5,000 shares or $50,000 in any 3-month rolling window.

How it relates to Form 4: Form 144 is filed before the trade (up to 90 days in advance); Form 4 is filed within 2 business days after the trade executes. Not every Form 144 results in a sale — the filer may cancel or delay. Look for the corresponding Form 4 on the Insider Activity card to confirm a sale actually happened.

10b5-1 plans: Trades made under a pre-scheduled Rule 10b5-1 plan are not discretionary — they execute automatically on dates set months earlier, regardless of news. High 10b5-1 percentages mean less per-filing signal value, though cumulative selling volume still matters.

"Notice value": Aggregate market value the filer wrote into the Form 144 — i.e. the size of the planned sale, not necessarily the executed dollars. An amended notice (Form 144/A) replaces the original it amends, and cancelled notices are dropped, so neither is double-counted above. A filed value that is clearly inconsistent with the share count at the stock's price (a filer typo) shows as a dash and is left out of the totals.

Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.

Top 90-day filers: Mott Michael (1, $26K)
Filed Filer Role Shares Notice Value Planned Sale Broker Plan Link
2026-10-21 Mott Michael Officer 4,209 $25.9K 2026-10-21 Fidelity Brokerage Services LLC — EDGAR
Notice value is the aggregate market value the filer states they intend to sell — not a confirmed transaction. Compare to Insider Activity (Form 4) to see which planned sales actually executed. Market-wide feed: Planned sales (Form 144).
ETF Holders
44 ETFs hold NEXT
25 shown · $135.83M total exposure · 0.02% AUM-weighted avg weight
# ETF Provider Weight $ Exposure ETF AUM As Of
1 VTI Vanguard Morningstar Total Stock Market ETF Vanguard 0.00% $28.3M — 2026-09-30
2 IWM iShares Russell 2000 ETF iShares (BlackRock) 0.03% $26.2M $75.1B 2026-10-20
3 MLPI NEOS MLP & Energy Infrastructure High Income ETF Nport 2.39% $16.2M — 2026-06-30
4 VXF Vanguard Extended Market ETF Vanguard 0.01% $9.6M — 2026-09-30
5 MLPX Global X MLP and Energy Infrastructure ETF Global X 0.24% $8.6M — 2026-10-21
6 VDE Vanguard Energy ETF Vanguard 0.07% $8.6M — 2026-09-30
7 IWN iShares Russell 2000 Value ETF iShares (BlackRock) 0.06% $7.9M $13.7B 2026-10-20
8 VTWO Vanguard Russell 2000 ETF Vanguard 0.04% $6.2M — 2026-09-30
9 SCHA Schwab U.S. Small-Cap ETF Nport 0.02% $5.4M — 2026-05-31
10 USAI Pacer American Energy Independence ETF Nport 2.99% $3.3M — 2026-04-30
11 BESF Bastion Energy ETF Nport 8.99% $3.0M — 2026-05-29
12 ENFR Alerian Energy Infrastructure ETF Nport 0.50% $2.3M — 2026-05-31
13 IWO iShares Russell 2000 Growth ETF iShares (BlackRock) 0.01% $1.8M $13.6B 2026-10-20
14 FENY Fidelity MSCI Energy Index ETF Fidelity 0.06% $1.4M $2.3B 2026-10-20
15 ESML iShares ESG Aware MSCI USA Small-Cap ETF iShares (BlackRock) 0.05% $1.4M $2.7B 2026-10-20
16 ITOT iShares Core S&P Total U.S. Stock Market ETF iShares (BlackRock) 0.00% $1.2M $97.4B 2026-10-20
17 NUSC Nuveen ESG Small-Cap ETF Nport 0.07% $964,985 — 2026-07-31
18 VTWV Vanguard Russell 2000 Value ETF Vanguard 0.06% $805,028 — 2026-09-30
19 SCHB Schwab U.S. Broad Market ETF Nport 0.00% $658,523 — 2026-05-31
20 ONEQ Fidelity Nasdaq Composite Index ETF Fidelity 0.01% $603,068 $10.9B 2026-10-20
21 RSSL Global X Russell 2000 ETF Global X 0.03% $491,466 — 2026-10-21
22 PXI Invesco Dorsey Wright Energy Momentum ETF Nport 0.70% $368,498 — 2026-07-31
23 OPTZ Optimize Strategy Index ETF Nport 0.08% $242,449 — 2026-06-30
24 BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF JPMorgan 0.03% $222,301 $729.1M 2026-10-21
25 VTWG Vanguard Russell 2000 Growth ETF Vanguard 0.01% $217,132 — 2026-09-30
Fundamentals

Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.

Metrics
  • Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
  • Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
  • Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
  • Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
  • Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
  • YoY growth — compare to the same quarter a year earlier to remove seasonality.
  • Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
  • Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.

TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.

Trailing P/E
—
TTM Diluted EPS
$-1.36
TTM Revenue
—
TTM Net Income
$-358.59M
TTM Op. Cash Flow
$-224.69M
Quarterly figures (12 quarters)
QuarterPeriod EndRevenueNet IncomeDiluted EPSOp. Cash Flow
Q2 '262026-06-30—$-65.43M$-0.25$-17.18M
Q1 '262026-03-31—$-136.41M$-0.51$-110.83M
Q4 '252025-12-31—$-47.28M$-0.18$-20.66M
Q3 '252025-09-30—$-109.48M$-0.42$-76.02M
Q2 '252025-06-30—$-60.87M$-0.23$-3.90M
Q1 '252025-03-31—$-88.81M$-0.34$-68.83M
Q4 '242024-12-31—$65.68M$0.25$-8.90M
Q3 '242024-09-30—$-123.20M$-0.47$-63.84M
Q2 '242024-06-30—$-32.58M$-0.13$5.99M
Q1 '242024-03-31—$28.35M$0.11$-28.82M
Q4 '232023-12-31—$-129.26M$-0.63$-20.99M
Q3 '232023-09-30—$107.61M$0.48$-11.42M
Q2 2026 • period ending 2026-06-30 • filed 2026-07-30
Valuation

Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.

Price Multiples
  • P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
  • P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
  • P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
  • EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
  • EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
  • ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
  • ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
  • Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
  • FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
  • Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
  • Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
  • Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
  • Multiples expanding while earnings are flat = sentiment-driven rally.
  • Multiples compressing while earnings grow = value coming from fundamentals.
P/E
—
P/B
0.54
P/S
—
EV/EBITDA
—
EV/Sales
—
ROE
-12.7%
ROA
-2.4%
Div Yield
0.00%
FCF Yield
-14.73%
Debt/Equity
3.70
Current Ratio
—
Market Cap
$1.53B
as of 2026-10-22
Short Interest & Float

Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.

Metric definitions
  • Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
  • SI % of Float — short interest / free float. The key crowding metric.
  • Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
  • Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
  • Free Float — shares available for public trading (total shares minus insider / restricted).
  • Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
  • SI % of Float < 5% — typical, no particular signal.
  • 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
  • 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
  • >30% — extreme; borrow is likely expensive and squeeze risk is material.
  • Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
  • Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
  • A sudden drop in SI after a rally may indicate a squeeze in progress.

Short interest is reported mid-month and end-of-month; short volume is daily.

Short Interest
22.79M
SI % of Float
19.93%
Days to Cover
8.41
Short Vol Ratio
68.8%
Free Float
114.35M
Float %
43.0%
Short interest 2026-09-30 • Short volume 2026-10-21 • Float 2026-08-14