Brokerages Set NextDecade Corporation (NASDAQ:NEXT) Target Price at $8.50

Shares of NextDecade Corporation (NASDAQ:NEXT) have received an average recommendation of “Hold” from the six research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $8.50.

Several research firms have recently weighed in on NEXT. Weiss Ratings restated a “sell (e+)” rating on shares of NextDecade in a research report on Monday, December 22nd. Cowen downgraded NextDecade from a “buy” rating to a “hold” rating in a research note on Monday, September 15th. Morgan Stanley restated an “equal weight” rating and issued a $10.00 price objective (down previously from $15.00) on shares of NextDecade in a report on Friday, September 12th. Zacks Research raised shares of NextDecade from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Finally, TD Cowen reduced their target price on shares of NextDecade from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, October 23rd.

Insider Transactions at NextDecade

In other NextDecade news, major shareholder Aerospace Co. Ltd. Hanwha acquired 800,000 shares of the business’s stock in a transaction on Friday, December 12th. The stock was bought at an average price of $5.54 per share, for a total transaction of $4,432,000.00. Following the acquisition, the insider owned 26,420,222 shares in the company, valued at approximately $146,368,029.88. The trade was a 3.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have bought 7,177,861 shares of company stock worth $42,393,247. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NextDecade

A number of large investors have recently made changes to their positions in the stock. US Bancorp DE increased its holdings in shares of NextDecade by 22,782.4% in the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock valued at $26,000 after purchasing an additional 3,873 shares during the last quarter. Bessemer Group Inc. purchased a new stake in NextDecade in the 3rd quarter valued at $29,000. Comerica Bank increased its stake in shares of NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after acquiring an additional 1,900 shares during the last quarter. AlphaQuest LLC increased its stake in shares of NextDecade by 102.2% in the 2nd quarter. AlphaQuest LLC now owns 3,961 shares of the company’s stock worth $35,000 after acquiring an additional 2,002 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of NextDecade during the 2nd quarter worth $36,000. 66.74% of the stock is currently owned by hedge funds and other institutional investors.

NextDecade Stock Performance

NEXT opened at $5.41 on Tuesday. The firm’s fifty day simple moving average is $5.82 and its two-hundred day simple moving average is $7.92. NextDecade has a 52-week low of $4.99 and a 52-week high of $12.12. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -7.41 and a beta of 1.90. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 3.34.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings results on Thursday, October 30th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.10). Equities analysts anticipate that NextDecade will post -0.61 earnings per share for the current fiscal year.

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.