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

NextDecade Corporation (NASDAQ:NEXT) has been given an average recommendation of “Hold” by the five research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $8.00.

A number of equities analysts have weighed in on NEXT shares. TD Cowen reduced their price objective on shares of NextDecade from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, October 23rd. Capital One Financial initiated coverage on NextDecade in a report on Friday, February 6th. They set an “overweight” rating and a $7.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th.

NextDecade Stock Up 2.0%

NextDecade stock opened at $5.20 on Wednesday. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $1.38 billion, a PE ratio of -7.12 and a beta of 1.99. The business has a 50 day simple moving average of $5.30 and a 200-day simple moving average of $6.80. NextDecade has a 12 month low of $4.75 and a 12 month high of $12.12.

Insider Transactions at NextDecade

In other NextDecade news, major shareholder Aerospace Co. Ltd. Hanwha purchased 800,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were purchased at an average cost of $5.54 per share, with a total value of $4,432,000.00. Following the completion of the purchase, the insider owned 26,420,222 shares in the company, valued at approximately $146,368,029.88. This represents a 3.12% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have acquired 6,290,149 shares of company stock worth $37,064,010. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On NextDecade

Institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. grew its holdings in NextDecade by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 122,020 shares of the company’s stock valued at $829,000 after buying an additional 1,800 shares in the last quarter. Comerica Bank grew its holdings in shares of NextDecade by 88.0% in the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after purchasing an additional 1,900 shares during the period. Steward Partners Investment Advisory LLC increased its position in NextDecade by 27.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 9,061 shares of the company’s stock worth $81,000 after purchasing an additional 1,956 shares during the last quarter. AlphaQuest LLC raised its stake in NextDecade by 102.2% during the second quarter. AlphaQuest LLC now owns 3,961 shares of the company’s stock worth $35,000 after purchasing an additional 2,002 shares during the period. Finally, Inscription Capital LLC boosted its holdings in NextDecade by 16.0% in the 4th quarter. Inscription Capital LLC now owns 15,739 shares of the company’s stock valued at $83,000 after purchasing an additional 2,172 shares during the last quarter. Hedge funds and other institutional investors own 66.74% of the company’s stock.

NextDecade Company Profile

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.