NextDecade Corporation (NASDAQ:NEXT) Receives Consensus Recommendation of “Hold” from Analysts

NextDecade Corporation (NASDAQ:NEXT) has received an average recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $8.00.

Several equities research analysts have issued reports on the stock. Capital One Financial started coverage on shares of NextDecade in a research note on Friday, February 6th. They set an “overweight” rating and a $7.00 price target on the stock. Morgan Stanley raised their target price on shares of NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 21st. Weiss Ratings raised shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, April 27th. TD Cowen decreased their target price on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Thursday, March 5th. Finally, Citigroup began coverage on shares of NextDecade in a research report on Wednesday, May 13th. They issued a “buy” rating and a $11.00 target price on the stock.

Insider Activity

In related news, Director Pamela K.M. Beall bought 71,500 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were acquired at an average cost of $7.07 per share, with a total value of $505,505.00. Following the completion of the transaction, the director owned 71,500 shares of the company’s stock, valued at approximately $505,505. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On NextDecade

Hedge funds have recently modified their holdings of the stock. US Bancorp DE boosted its position in shares of NextDecade by 22,782.4% in the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $26,000 after acquiring an additional 3,873 shares during the last quarter. Raymond James Financial Inc. purchased a new position in NextDecade in the second quarter valued at approximately $36,000. Comerica Bank raised its holdings in 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 buying an additional 1,900 shares during the period. EverSource Wealth Advisors LLC raised its holdings in NextDecade by 302.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company’s stock valued at $32,000 after buying an additional 3,161 shares during the period. Finally, Bessemer Group Inc. purchased a new position in NextDecade in the third quarter valued at approximately $29,000. 66.74% of the stock is owned by institutional investors and hedge funds.

NextDecade Price Performance

NextDecade stock opened at $8.45 on Friday. NextDecade has a 12-month low of $4.75 and a 12-month high of $12.12. The stock has a market capitalization of $2.24 billion, a P/E ratio of -6.31 and a beta of 1.65. The firm’s 50-day moving average is $7.59 and its two-hundred day moving average is $6.24. The company has a debt-to-equity ratio of 3.96, a current ratio of 0.40 and a quick ratio of 0.40.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings results on Friday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.20). Equities analysts predict that NextDecade will post -2.16 earnings per share for the current year.

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.