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

Shares of NextDecade Corporation (NASDAQ:NEXT) have been assigned a consensus rating of “Hold” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $8.10.

A number of brokerages have issued reports on NEXT. Citigroup initiated coverage on shares of NextDecade in a research note on Wednesday, May 13th. They set a “buy” rating and a $11.00 price target on the stock. Morgan Stanley boosted their price objective on shares of NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Tuesday, April 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of NextDecade in a research report on Friday, July 24th. Finally, The Goldman Sachs Group assumed coverage on NextDecade in a research note on Wednesday, July 15th. They issued a “neutral” rating and a $8.50 target price for the company.

NextDecade Price Performance

Shares of NASDAQ NEXT opened at $6.42 on Thursday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market cap of $1.71 billion, a PE ratio of -4.72 and a beta of 1.55. The business has a 50-day simple moving average of $7.61 and a two-hundred day simple moving average of $7.01. NextDecade has a fifty-two week low of $4.75 and a fifty-two week high of $11.28.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.41. As a group, equities analysts expect that NextDecade will post -2.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NEXT. Comerica Bank boosted its position in NextDecade by 88.0% in the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after buying an additional 1,900 shares during the last quarter. AQR Capital Management LLC acquired a new position in NextDecade in the 1st quarter worth approximately $386,000. Millennium Management LLC raised its position in NextDecade by 10.1% during 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 during the last quarter. Caxton Associates LLP purchased a new position in NextDecade during the 1st quarter worth approximately $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in NextDecade by 13.9% during the 1st 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 acquiring an additional 33,941 shares during the period. 66.74% of the stock is currently owned by hedge funds and other institutional investors.

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.