NextDecade (NASDAQ:NEXT) Stock Price Up 6.6% – Time to Buy?

NextDecade Corporation (NASDAQ:NEXT)’s share price rose 6.6% during trading on Wednesday . The company traded as high as $6.27 and last traded at $6.3750. Approximately 1,480,058 shares were traded during trading, a decline of 51% from the average daily volume of 3,014,723 shares. The stock had previously closed at $5.98.

Analyst Upgrades and Downgrades

NEXT has been the topic of a number of recent analyst reports. TD Cowen decreased their target price on NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Thursday, March 5th. Morgan Stanley reduced their price target on shares of NextDecade from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NextDecade in a research report on Monday, December 29th. Finally, Capital One Financial started coverage on shares of NextDecade in a research note on Friday, February 6th. They issued an “overweight” rating and a $7.00 price objective for the company. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, NextDecade has an average rating of “Hold” and an average price target of $6.67.

NextDecade Stock Performance

The company has a fifty day moving average price of $5.32 and a two-hundred day moving average price of $6.04. 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 company has a market capitalization of $1.71 billion, a P/E ratio of -5.52 and a beta of 2.02.

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). Equities analysts forecast that NextDecade Corporation will post -0.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its position in shares of NextDecade by 433.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 18,259 shares of the company’s stock valued at $96,000 after buying an additional 14,836 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of NextDecade by 7.7% during the fourth quarter. Pacer Advisors Inc. now owns 266,111 shares of the company’s stock worth $1,402,000 after acquiring an additional 19,045 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of NextDecade in the fourth quarter worth approximately $97,000. Invesco Ltd. boosted its holdings in NextDecade by 5.1% in the fourth quarter. Invesco Ltd. now owns 82,717 shares of the company’s stock valued at $436,000 after acquiring an additional 4,008 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in NextDecade by 118.8% in the fourth quarter. Corient Private Wealth LLC now owns 137,078 shares of the company’s stock valued at $677,000 after acquiring an additional 74,425 shares during the last quarter. 66.74% of the stock is owned by institutional investors.

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.