NextDecade (NASDAQ:NEXT) Issues Earnings Results, Beats Expectations By $0.41 EPS

NextDecade (NASDAQ:NEXT) issued its earnings results on Wednesday. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.41, FiscalAI reports.

NextDecade Price Performance

NASDAQ NEXT traded up $0.39 during trading on Thursday, reaching $6.73. The company’s stock had a trading volume of 2,911,238 shares, compared to its average volume of 2,583,866. The firm has a fifty day moving average of $7.75 and a 200 day moving average of $6.96. NextDecade has a one year low of $4.75 and a one year high of $11.59. The stock has a market capitalization of $1.78 billion, a PE ratio of -5.02 and a beta of 1.51. The company has a debt-to-equity ratio of 3.96, a current ratio of 0.40 and a quick ratio of 0.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NEXT. Adage Capital Partners GP L.L.C. increased its position in shares of NextDecade by 520.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company’s stock worth $13,810,000 after purchasing an additional 1,300,000 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in NextDecade by 77.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,676,336 shares of the company’s stock worth $8,834,000 after buying an additional 732,550 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in NextDecade in the 3rd quarter worth approximately $4,935,000. Squarepoint Ops LLC grew its stake in NextDecade by 425.0% in the 3rd quarter. Squarepoint Ops LLC now owns 790,009 shares of the company’s stock worth $5,364,000 after buying an additional 639,534 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of NextDecade by 16.7% in the 2nd quarter. Bank of America Corp DE now owns 3,102,352 shares of the company’s stock worth $27,642,000 after buying an additional 444,518 shares during the last quarter. Hedge funds and other institutional investors own 66.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NEXT. Citigroup initiated coverage on shares of NextDecade in a report on Wednesday, May 13th. They issued a “buy” rating and a $11.00 price target on the stock. The Goldman Sachs Group began coverage on shares of NextDecade in a report on Wednesday, July 15th. They set a “neutral” rating and a $8.50 target price on the stock. Morgan Stanley increased their target price on shares of NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NextDecade in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, NextDecade has an average rating of “Hold” and a consensus target price of $8.10.

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.