TD Cowen Lowers NextDecade (NASDAQ:NEXT) Price Target to $7.00

NextDecade (NASDAQ:NEXT) had its price objective cut by research analysts at TD Cowen from $8.00 to $7.00 in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s target price would suggest a potential upside of 20.07% from the company’s previous close.

A number of other research firms have also weighed in on NEXT. Seaport Res Ptn raised shares of NextDecade to a “strong-buy” rating in a research report on Friday, July 25th. Cowen lowered shares of NextDecade from a “buy” rating to a “hold” rating in a research report on Monday, September 15th. Morgan Stanley reaffirmed an “equal weight” rating and set a $10.00 target price (down from $15.00) on shares of NextDecade in a research report on Friday, September 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextDecade in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of NextDecade from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, NextDecade presently has a consensus rating of “Hold” and an average price target of $8.50.

NextDecade Stock Performance

NextDecade stock opened at $5.83 on Thursday. The company has a debt-to-equity ratio of 2.77, a current ratio of 0.70 and a quick ratio of 0.70. NextDecade has a 1-year low of $5.16 and a 1-year high of $12.12. The firm has a market capitalization of $1.53 billion, a P/E ratio of -7.47 and a beta of 1.78. The company’s 50-day moving average is $7.90 and its 200 day moving average is $8.49.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.23) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.23). Research analysts forecast that NextDecade will post -0.61 EPS for the current year.

Insider Buying and Selling at NextDecade

In other NextDecade news, CEO Matthew K. Schatzman acquired 281,500 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were purchased at an average cost of $7.14 per share, for a total transaction of $2,009,910.00. Following the completion of the purchase, the chief executive officer owned 5,246,316 shares in the company, valued at approximately $37,458,696.24. This trade represents a 5.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Bardin Hill Investment Partner acquired 357,021 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were acquired at an average price of $6.98 per share, for a total transaction of $2,492,006.58. Following the completion of the purchase, the director owned 9,274,894 shares of the company’s stock, valued at approximately $64,738,760.12. This represents a 4.00% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 1,654,850 shares of company stock valued at $11,611,592 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On NextDecade

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in shares of NextDecade during the third quarter valued at approximately $140,000. Moody Aldrich Partners LLC bought a new position in shares of NextDecade during the third quarter valued at approximately $1,207,000. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in shares of NextDecade by 83.9% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 132,164 shares of the company’s stock valued at $897,000 after purchasing an additional 60,300 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of NextDecade by 12.9% during the third quarter. Pacer Advisors Inc. now owns 247,066 shares of the company’s stock valued at $1,678,000 after purchasing an additional 28,295 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of NextDecade during the third quarter valued at approximately $139,000. 66.74% of the stock is currently owned by institutional investors.

NextDecade Company Profile

NextDecade Corp. is a development company.