NextDecade (NASDAQ:NEXT) Hits New 1-Year High After Analyst Upgrade

NextDecade Corporation (NASDAQ:NEXT) shares reached a new 52-week high during trading on Saturday after Morgan Stanley raised their price target on the stock from $10.00 to $15.00. Morgan Stanley currently has an overweight rating on the stock. NextDecade traded as high as $10.79 and last traded at $10.77, with a volume of 9721965 shares. The stock had previously closed at $9.21.

Other equities research analysts have also issued reports about the stock. Cowen raised shares of NextDecade from a “hold” rating to a “buy” rating in a report on Tuesday, June 24th. TD Cowen raised shares of NextDecade from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Tuesday, June 24th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NEXT. PNC Financial Services Group Inc. increased its position in shares of NextDecade by 137.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,261 shares of the company’s stock worth $25,000 after acquiring an additional 1,886 shares in the last quarter. Comerica Bank grew its holdings in NextDecade by 88.0% during the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after purchasing an additional 1,900 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in NextDecade by 350.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,479 shares of the company’s stock worth $35,000 after buying an additional 3,485 shares during the period. Farther Finance Advisors LLC increased its stake in NextDecade by 21,395.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,729 shares of the company’s stock worth $42,000 after buying an additional 4,707 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in NextDecade by 2,302.6% in the 1st quarter. GAMMA Investing LLC now owns 6,535 shares of the company’s stock worth $51,000 after buying an additional 6,263 shares in the last quarter. 66.74% of the stock is currently owned by institutional investors and hedge funds.

NextDecade Trading Up 16.9%

The business’s 50-day simple moving average is $8.26 and its two-hundred day simple moving average is $7.97. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.64. The company has a market capitalization of $2.81 billion, a PE ratio of -15.84 and a beta of 1.08.

About NextDecade

NextDecade Corp. is a development company.