NextDecade (NASDAQ:NEXT) Raised to “Overweight” at Morgan Stanley

Morgan Stanley upgraded shares of NextDecade (NASDAQ:NEXT) from an equal weight rating to an overweight rating in a research report report published on Monday, Price Targets.com reports. They currently have $6.00 target price on the stock, up from their prior target price of $2.00.

Several other analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of NextDecade from a sell rating to a hold rating in a research note on Tuesday, March 23rd. Credit Suisse Group raised shares of NextDecade from a neutral rating to an outperform rating and set a $3.00 price objective for the company in a research note on Wednesday, March 24th.

NEXT stock opened at $4.60 on Monday. NextDecade has a one year low of $1.19 and a one year high of $6.13. The stock has a 50 day moving average price of $2.40.

NextDecade (NASDAQ:NEXT) last released its earnings results on Monday, May 17th. The company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. As a group, equities analysts anticipate that NextDecade will post -0.27 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in shares of NextDecade by 6.8% during the 4th quarter. BlackRock Inc. now owns 1,470,611 shares of the company’s stock valued at $3,074,000 after acquiring an additional 93,191 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of NextDecade by 8.7% during the 1st quarter. Geode Capital Management LLC now owns 1,143,397 shares of the company’s stock valued at $3,052,000 after acquiring an additional 91,902 shares in the last quarter. Baker Hughes Holdings LLC acquired a new position in shares of NextDecade during the 4th quarter valued at $1,338,000. Millennium Management LLC lifted its holdings in NextDecade by 1,745.8% in the 1st quarter. Millennium Management LLC now owns 462,294 shares of the company’s stock worth $1,234,000 after buying an additional 437,248 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in NextDecade in the 1st quarter worth $668,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

NextDecade Company Profile

NextDecade Corporation, a liquefied natural gas (LNG) development company, engages in the development activities related to the liquefaction and sale of LNG. It focusses on the development activities of Rio Grande LNG terminal facility located in the Port of Brownsville, southern Texas. The company is headquartered in Houston, Texas.

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