Zacks Investment Research cut shares of Nextdecade (NASDAQ:NEXT) from a hold rating to a sell rating in a report released on Wednesday morning.

According to Zacks, “NextDecade Corporation is a development and management company of land-based and floating LNG projects primarily in the global integrated natural gas industry. It principally focuses on a land-based project on the U.S. Gulf Coast called Rio Grande LNG in Brownsville, Texas. NextDecade Corporation is based in The Woodlands, United States. “

NEXT has been the topic of several other reports. Credit Suisse Group assumed coverage on shares of Nextdecade in a research note on Thursday, October 11th. They issued a neutral rating and a $6.00 price target on the stock. Wolfe Research assumed coverage on shares of Nextdecade in a research note on Tuesday, November 13th. They issued an underperform rating on the stock. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The stock has a consensus rating of Hold and a consensus price target of $6.90.

NASDAQ:NEXT opened at $3.27 on Wednesday. Nextdecade has a one year low of $3.17 and a one year high of $7.53.

Several hedge funds have recently added to or reduced their stakes in the stock. York Capital Management Global Advisors LLC grew its stake in shares of Nextdecade by 1.3% in the third quarter. York Capital Management Global Advisors LLC now owns 58,321,201 shares of the company’s stock valued at $293,647,000 after acquiring an additional 722,198 shares in the last quarter. Valinor Management L.P. grew its stake in shares of Nextdecade by 0.5% in the third quarter. Valinor Management L.P. now owns 19,551,334 shares of the company’s stock valued at $110,465,000 after acquiring an additional 94,021 shares in the last quarter. Perella Weinberg Partners Capital Management LP grew its stake in shares of Nextdecade by 10.6% in the fourth quarter. Perella Weinberg Partners Capital Management LP now owns 1,527,369 shares of the company’s stock valued at $8,248,000 after acquiring an additional 146,009 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Nextdecade in the second quarter valued at about $2,531,000. Finally, Verition Fund Management LLC grew its stake in shares of Nextdecade by 422.8% in the third quarter. Verition Fund Management LLC now owns 135,919 shares of the company’s stock valued at $768,000 after acquiring an additional 109,919 shares in the last quarter. Institutional investors and hedge funds own 87.27% of the company’s stock.

Nextdecade Company Profile

NextDecade Corporation, a liquefied natural gas (LNG) development company, engages in the development of LNG export projects and associated pipelines in the State of Texas. It intends to develop a portfolio of LNG projects, including Rio Grande LNG export facility, which has a liquefaction capacity of 27 million tons of LNG per annum located in Brownsville, Texas; and the 4.5 Bcf/d Rio Bravo Pipeline that transports natural gas from the Agua Dulce supply area to Rio Grande LNG.

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