Hanwha Aerospace Co. Ltd, a 10% Owner of NextDecade Corporation (NEXT +2.50%), reported the purchase of 932,598 shares in multiple open-market transactions from Dec. 8, 2025 through Dec. 10, 2025, as disclosed in a SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares traded | 932,598 |
| Transaction value | ~$5.7 million |
| Post-transaction shares (direct) | 24,768,251 |
| Post-transaction value (direct ownership) | ~$145.6 million |
Transaction value based on SEC Form 4 weighted average purchase price ($6.16); post-transaction value based on Dec. 10, 2025 market close ($5.88).
Key questions
- How does this transaction compare to Hanwha Aerospace Co. Ltd.'s recent trading activity in NextDecade Corporation?
This purchase of 932,598 shares aligns with the recent sequence of open-market acquisitions, where trade sizes have ranged from approximately 591,837 to 1,064,424 shares, and is close to the historical median of 735,885 shares for all events. - What was the price context for these purchases, and how does it relate to the current market level?
The weighted average purchase price was around $6.16 per share, which is roughly 4.8% above the $5.88 closing price on Dec. 10, 2025, and 12.8% above the $5.46 price as of Dec. 14, 2025. - Did this activity materially shift Hanwha Aerospace Co. Ltd.'s ownership or market influence in NextDecade Corporation?
The transaction added shares equivalent to 3.91% of pre-transaction direct holdings, bringing Hanwha Aerospace Co. Ltd.'s post-transaction direct position to 24,768,251 shares, while its ownership percentage stands at 9.356% of shares outstanding after the trade. - What is the significance of the unchanged indirect holdings reported in the filing?
Indirect holdings of 17,536,369 shares, attributed to Hanwha Ocean LLC, were not affected by this transaction, indicating that the latest purchase was entirely in Hanwha Aerospace Co. Ltd.'s direct capacity.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 12/10/25) | $6.16 |
| Market capitalization | $1.44 billion |
| Net income (TTM) | -$193.48 million |
| 1-year price change | -12.76% |
* 1-year price change calculated as of Dec. 10, 2025.
Company snapshot
- NextDecade develops liquefied natural gas (LNG) export infrastructure and carbon capture and storage (CCS) projects, with a focus on the Rio Grande LNG terminal in Texas.
- It engages in development activities related to the liquefaction and sale of LNG, as well as carbon capture and storage projects for industrial clients.
NextDecade Corporation is an energy infrastructure company specializing in LNG export and carbon capture project development.
What this transaction means for investors
Shares of NextDecade hit 52-week highs of $12.12 on July 18 but have fallen dramatically since, losing 58% of their value. South Korea-based Hanwha Aerospace appears to be taking advantage of the opportunity and loading up on the stock. Hanwha Aerospace has made several buy transactions since late November, including another one since the filing reported above. According to the latest filing from NextDecade, Hanwha has purchased 4.37 million shares between Nov. 21 and Dec. 11.
NASDAQ: NEXT
Key Data Points
NextDecade is developing the Rio Grande LNG facility, a natural gas liquefaction and export facility with a total potential capacity of 48 million tonnes per annum. Although the first LNG from the terminal isn't expected before 2027, NextDecade has already "sold" 85% of its estimated LNG production from trains (or processing units) 1-5 under long-term contracts with some of the largest energy companies, including ConocoPhillips (COP +2.88%)and EQT (EQT +2.12%).
Shell (SHEL +1.56%) recently projected global demand for LNG to rise by nearly 60% by 2040. Rio Grande is expected to be one of the world's largest LNG export terminals. If NextDecade can build the facility in time, it could become a major beneficiary of the LNG boom. For Hanwha Aeroscape, meanwhile, an investment in NextDecade is a way to secure Korea's access to LNG from the U.S. as the country prioritizes energy security.
Glossary
Open-market transaction: The purchase or sale of securities on a public exchange, not through private negotiation.
SEC Form 4: A regulatory filing disclosing insider trades of a company's securities by officers, directors, or significant shareholders.
10% owner: An individual or entity holding at least 10% of a company's outstanding shares, subject to special reporting rules.
Direct ownership: Shares held and controlled directly by an individual or entity, not through intermediaries.
Indirect holdings: Shares owned through another entity, such as a subsidiary or affiliate, rather than held directly.
Weighted average price: The average price of shares purchased or sold, weighted by the number of shares in each transaction.
Median: The middle value in a set of numbers, with half above and half below.
Shares outstanding: The total number of a company's shares currently held by all shareholders, including restricted shares.
Carbon capture and storage (CCS): Technology that captures carbon dioxide emissions and stores them to prevent release into the atmosphere.
Liquefied natural gas (LNG): Natural gas cooled to a liquid state for storage and transport.
TTM: The 12-month period ending with the most recent quarterly report.
