NextDecade Corporation (NASDAQ:NEXT) Given Average Rating of “Hold” by Brokerages

NextDecade Corporation (NASDAQ:NEXT) has earned a consensus rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $8.00.

Several analysts have issued reports on the company. Citigroup assumed coverage on NextDecade in a research note on Wednesday, May 13th. They issued a “buy” rating and a $11.00 price target on the stock. Morgan Stanley lifted their price target on NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 21st. TD Cowen dropped their price target on NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Thursday, March 5th. Finally, Weiss Ratings raised NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, April 27th.

Insider Activity

In related news, Director Pamela K.M. Beall bought 71,500 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were acquired at an average price of $7.07 per share, with a total value of $505,505.00. Following the completion of the transaction, the director owned 71,500 shares in the company, valued at $505,505. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of NextDecade

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. grew its holdings in NextDecade by 1.5% during the third quarter. Alliancebernstein L.P. now owns 122,020 shares of the company’s stock worth $829,000 after purchasing an additional 1,800 shares during the period. Comerica Bank grew its holdings in NextDecade by 88.0% during 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. Inscription Capital LLC grew its holdings in NextDecade by 16.0% during the fourth quarter. Inscription Capital LLC now owns 15,739 shares of the company’s stock worth $83,000 after purchasing an additional 2,172 shares during the period. Fort Washington Investment Advisors Inc. OH grew its holdings in NextDecade by 0.3% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 644,417 shares of the company’s stock worth $4,936,000 after purchasing an additional 2,235 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of NextDecade by 302.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company’s stock worth $32,000 after acquiring an additional 3,161 shares during the period. Institutional investors and hedge funds own 66.74% of the company’s stock.

NextDecade Stock Performance

Shares of NextDecade stock opened at $7.35 on Tuesday. The company has a market capitalization of $1.95 billion, a PE ratio of -5.49 and a beta of 1.60. NextDecade has a 12 month low of $4.75 and a 12 month high of $12.12. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.96. The stock’s fifty day simple moving average is $7.95 and its 200 day simple moving average is $6.56.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.15. On average, research analysts predict that NextDecade will post -2.16 EPS 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.