Northern Trust Corp raised its stake in Nextdecade Corp (NASDAQ:NEXT) by 5.0% during the second quarter, Holdings Channel reports. The fund owned 86,717 shares of the company’s stock after buying an additional 4,147 shares during the period. Northern Trust Corp’s holdings in Nextdecade were worth $548,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also bought and sold shares of NEXT. Gradient Investments LLC bought a new stake in shares of Nextdecade in the second quarter valued at approximately $63,000. Bank of New York Mellon Corp raised its position in shares of Nextdecade by 36.5% in the second quarter. Bank of New York Mellon Corp now owns 29,655 shares of the company’s stock valued at $187,000 after purchasing an additional 7,926 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Nextdecade by 38.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 33,210 shares of the company’s stock valued at $210,000 after purchasing an additional 9,206 shares during the period. 85.21% of the stock is currently owned by institutional investors.
Nextdecade stock opened at $6.41 on Monday. The firm’s 50 day simple moving average is $6.01 and its 200 day simple moving average is $5.55. The company has a current ratio of 6.84, a quick ratio of 6.84 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $706.36 million, a PE ratio of -15.63 and a beta of -0.26. Nextdecade Corp has a 1-year low of $3.15 and a 1-year high of $6.75.
Nextdecade (NASDAQ:NEXT) last posted its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.08. Research analysts forecast that Nextdecade Corp will post -0.41 earnings per share for the current year.
Several analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Nextdecade from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. ValuEngine lowered shares of Nextdecade from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Morgan Stanley assumed coverage on shares of Nextdecade in a research report on Friday, September 20th. They issued an “underweight” rating and a $5.00 price target on the stock. Finally, Evercore ISI assumed coverage on shares of Nextdecade in a research report on Tuesday, September 17th. They issued an “outperform” rating and a $11.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $7.17.
Nextdecade Company Profile
NextDecade Corporation, a liquefied natural gas (LNG) development company, engages in the development of LNG export projects and associated pipelines in the State of Texas. It intends to develop a portfolio of LNG projects, including Rio Grande LNG export facility, which has a liquefaction capacity of 27 million tons of LNG per annum located in Brownsville, Texas; and the 137-mile Rio Bravo Pipeline that transports natural gas from the Agua Dulce supply area to Rio Grande LNG.
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