NextDecade Corporation (NASDAQ:NEXT) Stock Has Consensus Target Price of $8.10 According to Brokerages

NextDecade Corporation (NASDAQ:NEXT) has been given an average rating of “Hold” by the six research firms that are currently covering the stock, MarketBeat Ratings 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 issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $8.10.

NEXT has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextDecade in a research note on Friday, July 24th. Wall Street Zen raised NextDecade from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 5th. Finally, The Goldman Sachs Group assumed coverage on NextDecade in a report on Wednesday, July 15th. They issued a “neutral” rating and a $8.50 target price on the stock.

Institutional Investors Weigh In On NextDecade

Several institutional investors have recently bought and sold shares of NEXT. BlackRock Inc. bought a new position in NextDecade during the 2nd quarter valued at $179,608,000. Catalyst Capital Advisors LLC boosted its holdings in NextDecade by 12.4% during the 1st quarter. Catalyst Capital Advisors LLC now owns 5,216,592 shares of the company’s stock worth $39,959,000 after acquiring an additional 574,080 shares during the last quarter. Bank of America Corp DE purchased a new position in NextDecade during the 2nd quarter worth $14,415,000. Fort Washington Investment Advisors Inc. OH boosted its holdings in NextDecade by 0.3% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 644,417 shares of the company’s stock worth $4,936,000 after acquiring an additional 2,235 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in NextDecade during the 2nd quarter worth $3,613,000. Institutional investors own 66.74% of the company’s stock.

NextDecade Trading Down 0.2%

NASDAQ:NEXT opened at $6.25 on Tuesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a 50-day moving average of $6.94 and a 200-day moving average of $7.44. The company has a market cap of $1.66 billion, a PE ratio of -4.60 and a beta of 1.53. NextDecade has a one year low of $4.75 and a one year high of $9.24.

NextDecade (NASDAQ:NEXT) last posted its 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. As a group, equities research analysts expect that NextDecade will post -2.10 EPS for the current fiscal year.

NextDecade Company Profile

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.