NextDecade Corporation (NASDAQ:NEXT) Given Consensus Recommendation of “Hold” by Brokerages

NextDecade Corporation (NASDAQ:NEXT) has received a consensus rating of “Hold” from the five research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $6.6667.

A number of research analysts recently issued reports on NEXT shares. Capital One Financial initiated coverage on NextDecade in a research report on Friday, February 6th. They set an “overweight” rating and a $7.00 price objective for the company. Morgan Stanley cut their price target on NextDecade from $10.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. Finally, TD Cowen lowered their price target on NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday, March 5th.

Insider Transactions at NextDecade

In related news, Director Pamela K.M. Beall bought 71,500 shares of the stock in a transaction on Monday, March 23rd. The shares were purchased at an average price of $7.07 per share, with a total value of $505,505.00. Following the purchase, the director owned 71,500 shares in the company, valued at approximately $505,505. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NextDecade

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEXT. Comerica Bank lifted its position in NextDecade by 88.0% in the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after purchasing an additional 1,900 shares during the period. AQR Capital Management LLC acquired a new position in shares of NextDecade during the 1st quarter valued at $386,000. Millennium Management LLC raised its stake in shares of NextDecade by 10.1% in the 1st quarter. Millennium Management LLC now owns 1,404,770 shares of the company’s stock worth $10,929,000 after buying an additional 128,568 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of NextDecade in the 1st quarter worth $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of NextDecade by 13.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 277,307 shares of the company’s stock valued at $2,157,000 after buying an additional 33,941 shares during the period. Institutional investors own 66.74% of the company’s stock.

NextDecade Stock Performance

Shares of NASDAQ NEXT opened at $7.34 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 3.70. The firm’s 50-day moving average price is $5.86 and its two-hundred day moving average price is $5.91. NextDecade has a 52-week low of $4.75 and a 52-week high of $12.12. The stock has a market capitalization of $1.94 billion, a P/E ratio of -6.27 and a beta of 2.02.

NextDecade (NASDAQ:NEXT) last posted its earnings results on Friday, February 27th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.20). As a group, sell-side analysts forecast that NextDecade will post -0.61 earnings per share for the current year.

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.