NextDecade Corporation (NEXT): A Bull Case Theory 

We came across a bullish thesis on NextDecade Corporation on wallstreetbets subreddit by nicefaygo. In this article, we will summarize the bulls’ thesis on NEXT. NextDecade Corporation’s share was trading at $6.55 as of October 2nd. NEXT’s trailing and forward P/E were 40.83 according to Yahoo Finance.

NextDecade (NEXT) has reached a pivotal moment following the positive final investment decision (FID) and financial close on Rio Grande LNG Train 4 on September 9, with management signaling that Train 5’s FID is expected before November 15 after securing a 1.5 MTPA, 20-year sale and purchase agreement (SPA) with EQT. The timing is significant as winter gas demand typically tightens LNG supply, while sector developments, such as Sempra’s Port Arthur Phase 2 FID, highlight that U.S. LNG expansion continues to accelerate into year-end.

This confluence of real project de-risking, visible commercial agreements, and unusually large insider buying creates a scenario where market expectations, currently distressed, could be materially repriced. With shares trading around the mid-$7 range, the near-term upside is driven by straightforward catalysts: Train 5 financing announcements or additional SPAs secured over the winter, while insider purchases provide a credible support level for the stock. The company benefits from both operational and commercial clarity, reducing execution risk and giving investors confidence in forward momentum.

While NEXT retains the volatility typical of mid-cap LNG developers and remains sensitive to headline risk, the combination of fresh insider conviction, new FIDs, and contracted volumes creates a stacked catalyst environment that could sustain upward momentum in the share price. This setup positions NEXT as a compelling opportunity for investors seeking exposure to the accelerating U.S. LNG build-out, with both tangible near-term triggers and structural support underpinning a potential rerating from current market expectations.

Previously we covered a bullish thesis on Golar LNG Limited (GLNG) by Value Science in February 2025, which highlighted the company’s FLNG leadership, potential upside from commodity-linked tariffs, and newbuild contract opportunities. The stock has depreciated approximately by 2.52% since coverage as the thesis hasn’t fully played out. The thesis still stands, while nicefaygo emphasizes NextDecade’s near-term FID, SPA, and insider catalysts.

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Disclosure: None.