Shares of NextDecade (NEXT +2.38%) popped on Thursday, following reports of insider buying.
By the close of trading, NextDecade's stock price was up more than 11%.
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This director seems to be bullish on NextDecade's stock
Pamela Beall, a member of NextDecade's board of directors, acquired 71,500 shares of the energy transporter's stock for a family trust. The purchases were made at an average price of $7.07 per share.
NASDAQ: NEXT
Key Data Points
It's said that company insiders sell for many reasons. Maybe it's for diversification purposes, to cover expenses, or something else entirely.
Yet insiders tend to buy for only one reason: they think the stock price will rise.
So, it's unsurprising that traders reacted favorably to the news of Beall's purchases. But investors have other reasons to be bullish on NextDecade's prospects.
NextDecade is part of the solution to the world's energy supply crisis
Conflict in the Middle East is driving demand for U.S.-produced liquefied natural gas (LNG) sharply higher.
Countries in Asia and other markets that have historically relied on LNG shipments passing through the Strait of Hormuz are turning to more reliable supplies from U.S. producers.
As a developer of natural gas liquefaction and export facilities, NextDecade is well-placed to help supply this crucial energy to global markets.
