NextDecade Corporation (NASDAQ:NEXT) Given Average Rating of “Hold” by Brokerages

Shares of NextDecade Corporation (NASDAQ:NEXT) have been given a consensus rating of “Hold” by the seven brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $8.10.

NEXT has been the topic of several analyst reports. The Goldman Sachs Group started coverage on NextDecade in a report on Wednesday, July 15th. They set a “neutral” rating and a $8.50 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of NextDecade in a research report on Friday, July 24th. Citigroup started coverage on shares of NextDecade in a research note on Wednesday, May 13th. They set a “buy” rating and a $11.00 price objective on the stock. Finally, Morgan Stanley lifted their target price on shares of NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Tuesday, April 21st.

NextDecade Price Performance

NASDAQ:NEXT opened at $6.42 on Thursday. The firm’s fifty day moving average is $7.61 and its two-hundred day moving average is $7.01. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -4.72 and a beta of 1.55. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.37 and a current ratio of 0.37. NextDecade has a one year low of $4.75 and a one year high of $11.28.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.41. Research analysts expect that NextDecade will post -2.94 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEXT. Alliancebernstein L.P. increased its holdings in NextDecade by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 122,020 shares of the company’s stock worth $829,000 after acquiring an additional 1,800 shares in the last quarter. Comerica Bank grew its position 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. Collective Family Office LLC grew its position in shares of NextDecade by 13.4% in the second quarter. Collective Family Office LLC now owns 17,194 shares of the company’s stock valued at $130,000 after purchasing an additional 2,033 shares during the period. Inscription Capital LLC increased its stake in shares of NextDecade by 16.0% during the fourth quarter. Inscription Capital LLC now owns 15,739 shares of the company’s stock worth $83,000 after purchasing an additional 2,172 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its position in shares of 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 purchasing an additional 2,235 shares during the last quarter. Hedge funds and other institutional investors own 66.74% of the company’s stock.

About NextDecade

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.