NextDecade (NASDAQ:NEXT) Trading Down 6.2% – What’s Next?

Shares of NextDecade Corporation (NASDAQ:NEXT) traded down 6.2% on Monday . The company traded as low as $6.80 and last traded at $6.8790. 1,823,515 shares changed hands during trading, a decline of 51% from the average session volume of 3,705,520 shares. The stock had previously closed at $7.33.

Analysts Set New Price Targets

A number of brokerages have commented on NEXT. Capital One Financial started coverage on shares of NextDecade in a report on Friday, February 6th. They issued an “overweight” rating and a $7.00 target price for the company. TD Cowen lowered their price target on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NextDecade in a research report on Monday, December 29th. Finally, Morgan Stanley decreased their target price on shares of NextDecade from $10.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.67.

NextDecade Price Performance

The stock has a 50 day moving average of $5.45 and a 200-day moving average of $5.97. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $1.86 billion, a PE ratio of -6.00 and a beta of 2.02.

NextDecade (NASDAQ:NEXT) last announced its quarterly earnings data on Friday, February 27th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.20). Equities analysts predict that NextDecade Corporation will post -0.61 earnings per share for the current year.

Hedge Funds Weigh In On NextDecade

A number of institutional investors have recently bought and sold shares of the business. US Bancorp DE lifted its stake in NextDecade by 22,782.4% during the 3rd quarter. US Bancorp DE now owns 3,890 shares of the company’s stock valued at $26,000 after acquiring an additional 3,873 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of NextDecade in the second quarter worth $36,000. Comerica Bank raised its holdings in shares of NextDecade by 88.0% during the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after purchasing an additional 1,900 shares during the last quarter. Bessemer Group Inc. purchased a new position in shares of NextDecade during the third quarter worth $29,000. Finally, Federated Hermes Inc. acquired a new position in NextDecade during the third quarter valued at $38,000. 66.74% of the stock is 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.