NextDecade Corporation (NASDAQ:NEXT) Stock Rated “Hold” by Sell-Side Brokerages

NextDecade Corporation (NASDAQ:NEXT) has earned an average recommendation of “Hold” from the six ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given 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 brokerages that have updated their coverage on the stock in the last year is $8.10.

A number of research firms have recently commented on NEXT. Wall Street Zen raised shares of NextDecade from a “strong sell” rating to a “sell” rating in a report on Saturday, September 5th. The Goldman Sachs Group initiated coverage on shares of NextDecade in a research note on Wednesday, July 15th. They issued a “neutral” rating and a $8.50 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NextDecade in a research report on Friday, July 24th.

Hedge Funds Weigh In On NextDecade

Hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC bought a new position in shares of NextDecade during the 2nd quarter worth approximately $182,000. Integrated Wealth Concepts LLC bought a new stake in NextDecade in the second quarter valued at $50,000. NewEdge Advisors LLC raised its stake in NextDecade by 112.5% during the second quarter. NewEdge Advisors LLC now owns 5,327 shares of the company’s stock worth $40,000 after acquiring an additional 2,820 shares in the last quarter. Arizona State Retirement System raised its stake in NextDecade by 24.2% during the second quarter. Arizona State Retirement System now owns 40,206 shares of the company’s stock worth $303,000 after acquiring an additional 7,823 shares in the last quarter. Finally, Nykredit A S bought a new position in shares of NextDecade during the second quarter valued at $25,000. 66.74% of the stock is owned by institutional investors and hedge funds.

NextDecade Stock Performance

Shares of NASDAQ NEXT opened at $6.31 on Friday. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -4.64 and a beta of 1.54. NextDecade has a one year low of $4.75 and a one year high of $9.24. The business has a fifty day simple moving average of $6.97 and a 200 day simple moving average of $7.50. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 3.70.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.41. Sell-side analysts expect that NextDecade will post -2.1 EPS for the current year.

About NextDecade

NextDecade Corporation is an energy company focused on developing liquefied natural gas (LNG) infrastructure and lower-carbon energy solutions. Its principal project is Rio Grande LNG, an LNG export facility under development near Brownsville, Texas, along the U.S. Gulf Coast. The project is designed to produce LNG for delivery to customers in international markets.

In addition to LNG production and export services, NextDecade is developing carbon capture and storage capabilities associated with Rio Grande LNG.