NextDecade Corporation (NASDAQ:NEXT) Given Consensus Rating of “Hold” by Analysts

Shares of NextDecade Corporation (NASDAQ:NEXT) have been given a consensus rating of “Hold” by the six ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $8.00.

Several research firms have commented on NEXT. Morgan Stanley lifted their target price on shares of NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 21st. Capital One Financial began coverage on shares of NextDecade in a research report on Friday, February 6th. They set an “overweight” rating and a $7.00 target price on the stock. TD Cowen dropped their target price on shares of 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 raised shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, April 27th. Finally, Citigroup started coverage on shares of NextDecade in a report on Wednesday, May 13th. They issued a “buy” rating and a $11.00 price target on the stock.

NextDecade Price Performance

NextDecade stock opened at $8.37 on Friday. NextDecade has a 52 week low of $4.75 and a 52 week high of $12.12. The company’s 50 day moving average price is $7.75 and its two-hundred day moving average price is $6.29. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.96. The stock has a market cap of $2.22 billion, a P/E ratio of -6.25 and a beta of 1.65.

NextDecade (NASDAQ:NEXT) last posted its earnings results on Friday, February 27th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.20). On average, equities analysts predict that NextDecade will post -2.16 earnings per share for the current year.

Insider Activity at NextDecade

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

Institutional Investors Weigh In On NextDecade

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of NextDecade by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 10,378,992 shares of the company’s stock worth $70,473,000 after purchasing an additional 52,803 shares during the period. Man Investment Partners US LP bought a new stake in shares of NextDecade in the 4th quarter worth approximately $48,879,000. Catalyst Capital Advisors LLC raised its holdings in shares of NextDecade by 12.4% in the 1st quarter. Catalyst Capital Advisors LLC now owns 5,216,592 shares of the company’s stock worth $39,959,000 after purchasing an additional 574,080 shares during the period. Wolf Hill Capital Management LP raised its holdings in shares of NextDecade by 25.9% in the 4th quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company’s stock worth $19,493,000 after purchasing an additional 761,299 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of NextDecade by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 3,457,163 shares of the company’s stock worth $18,222,000 after purchasing an additional 45,757 shares during the period. Institutional investors own 66.74% of the company’s stock.

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.