NextDecade (NASDAQ:NEXT) Raised to Strong-Buy at Citigroup

NextDecade (NASDAQ:NEXT) was upgraded by equities research analysts at Citigroup to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, April 27th. TD Cowen dropped their price objective on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. Capital One Financial began coverage on shares of NextDecade in a research note on Friday, February 6th. They set an “overweight” rating and a $7.00 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, NextDecade presently has an average rating of “Hold” and a consensus target price of $8.00.

NextDecade Stock Up 4.4%

NEXT stock opened at $8.92 on Wednesday. The stock has a market capitalization of $2.36 billion, a P/E ratio of -6.66 and a beta of 1.65. The firm has a 50-day simple moving average of $7.27 and a 200-day simple moving average of $6.14. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.96. NextDecade has a 52 week low of $4.75 and a 52 week high of $12.12.

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

Insider Buying and Selling at NextDecade

In other news, Director Pamela K.M. Beall purchased 71,500 shares of the company’s stock in a transaction dated Monday, March 23rd. The stock was acquired at an average price of $7.07 per share, with a total value of $505,505.00. Following the purchase, the director directly owned 71,500 shares in the company, valued at approximately $505,505. This represents a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of NextDecade

Several hedge funds have recently made changes to their positions in the company. Cannell & Spears LLC purchased a new stake in shares of NextDecade in the 1st quarter valued at approximately $429,000. Sei Investments Co. grew its stake in shares of NextDecade by 77.3% in the 1st quarter. Sei Investments Co. now owns 146,558 shares of the company’s stock valued at $1,123,000 after buying an additional 63,900 shares during the period. Cetera Investment Advisers purchased a new stake in shares of NextDecade in the 1st quarter valued at approximately $970,000. PNC Financial Services Group Inc. grew its stake in shares of NextDecade by 153.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,602 shares of the company’s stock valued at $43,000 after buying an additional 3,396 shares during the period. Finally, Earned Wealth Advisors LLC purchased a new stake in shares of NextDecade in the 1st quarter valued at approximately $93,000. Hedge funds and other institutional investors own 66.74% of the company’s stock.

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.