NextDecade (NASDAQ:NEXT) Upgraded to “Hold” at Zacks Research

NextDecade (NASDAQ:NEXT) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also commented on NEXT. Morgan Stanley reaffirmed an “overweight” rating and issued a $15.00 price target (up previously from $10.00) on shares of NextDecade in a research note on Friday, July 11th. Cowen raised NextDecade from a “hold” rating to a “buy” rating in a research note on Tuesday, June 24th. TD Cowen raised NextDecade from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Tuesday, June 24th. Finally, Seaport Res Ptn raised NextDecade to a “strong-buy” rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $13.00.

NextDecade Stock Down 1.5%

Shares of NASDAQ NEXT opened at $9.94 on Monday. NextDecade has a one year low of $4.27 and a one year high of $12.12. The company has a debt-to-equity ratio of 2.77, a current ratio of 0.70 and a quick ratio of 0.70. The firm’s 50 day simple moving average is $10.52 and its two-hundred day simple moving average is $8.73. The stock has a market capitalization of $2.60 billion, a P/E ratio of -12.74 and a beta of 1.35.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings data on Thursday, July 31st. The company reported ($0.23) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.23). As a group, analysts expect that NextDecade will post -0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On NextDecade

A number of institutional investors have recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC raised its holdings in NextDecade by 2.3% in the second quarter. Catalyst Capital Advisors LLC now owns 4,704,427 shares of the company’s stock worth $41,916,000 after purchasing an additional 107,004 shares in the last quarter. Geode Capital Management LLC raised its holdings in NextDecade by 12.3% in the second quarter. Geode Capital Management LLC now owns 3,541,633 shares of the company’s stock worth $31,559,000 after purchasing an additional 386,613 shares in the last quarter. Bank of America Corp DE raised its holdings in NextDecade by 16.7% in the second quarter. Bank of America Corp DE now owns 3,102,352 shares of the company’s stock worth $27,642,000 after purchasing an additional 444,518 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in NextDecade by 17.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,248,028 shares of the company’s stock worth $17,490,000 after purchasing an additional 338,429 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of NextDecade by 520.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company’s stock valued at $13,810,000 after acquiring an additional 1,300,000 shares in the last quarter. Institutional investors own 66.74% of the company’s stock.

NextDecade Company Profile

NextDecade Corp. is a development company.