NextDecade Corporation (NASDAQ:NEXT) Given Average Recommendation of “Hold” by Brokerages

NextDecade Corporation (NASDAQ:NEXT) has been assigned an average rating of “Hold” from the five research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $7.00.

Several research analysts have weighed in on NEXT shares. Morgan Stanley increased their price objective on NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 21st. TD Cowen lowered their price objective on NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Thursday, March 5th. Weiss Ratings upgraded NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, April 27th. Finally, Capital One Financial started coverage on NextDecade in a research report on Friday, February 6th. They set an “overweight” rating and a $7.00 price objective on the stock.

NextDecade Price Performance

NEXT stock opened at $7.83 on Monday. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -5.84 and a beta of 1.65. The business’s fifty day moving average price is $6.85 and its two-hundred day moving average price is $6.02. NextDecade has a fifty-two week low of $4.75 and a fifty-two week high of $12.12.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings data on Friday, May 1st. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.15. On average, equities analysts anticipate that NextDecade will post -2.16 earnings per share for the current year.

Insider Activity

In related news, Director Pamela K.M. Beall bought 71,500 shares of NextDecade stock in a transaction dated Monday, March 23rd. The shares were bought at an average cost of $7.07 per share, with a total value of $505,505.00. Following the acquisition, the director owned 71,500 shares in the company, valued at $505,505. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.80% of the company’s stock.

Institutional Trading of NextDecade

Several large investors have recently modified their holdings of NEXT. Comerica Bank grew its holdings in shares of NextDecade by 88.0% during the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after purchasing an additional 1,900 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of NextDecade during the 1st quarter worth $386,000. Millennium Management LLC grew its holdings in shares of NextDecade by 10.1% during the 1st quarter. Millennium Management LLC now owns 1,404,770 shares of the company’s stock worth $10,929,000 after purchasing an additional 128,568 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of NextDecade during the 1st quarter worth $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of NextDecade by 13.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 277,307 shares of the company’s stock worth $2,157,000 after purchasing an additional 33,941 shares in the last quarter. 66.74% of the stock is owned by institutional investors and hedge funds.

About NextDecade

NextDecade Corporation is a Houston‐based liquefied natural gas (LNG) and decarbonization company focused on the development, engineering, construction and operation of large‐scale LNG export facilities. The company’s core mission is to deliver cleaner energy solutions to global customers while integrating carbon capture and sequestration technologies to reduce greenhouse gas emissions. NextDecade’s projects are designed to leverage abundant U.S. natural gas supplies to meet growing worldwide demand for low‐carbon fuel.

NextDecade’s flagship project, Rio Grande LNG, is located at the Port of Brownsville in southern Texas.