NextDecade (NASDAQ:NEXT) Stock Price Up 5.8% – Still a Buy?

NextDecade Corporation (NASDAQ:NEXT) shares were up 5.8% during mid-day trading on Friday. The stock traded as high as $6.22 and last traded at $6.2550. Approximately 788,371 shares traded hands during trading, a decline of 76% from the average daily volume of 3,342,734 shares. The stock had previously closed at $5.91.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NEXT shares. The Goldman Sachs Group assumed coverage on shares of NextDecade in a research report on Wednesday, July 15th. They issued a “neutral” rating and a $8.50 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of NextDecade in a research note on Thursday. Finally, Wall Street Zen raised NextDecade from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.10.

NextDecade Price Performance

The stock has a 50 day moving average of $6.90 and a 200-day moving average of $7.40. 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 $1.65 billion, a PE ratio of -4.56 and a beta of 1.53.

NextDecade (NASDAQ:NEXT) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.41. Equities analysts predict that NextDecade Corporation will post -2.10 earnings per share for the current year.

Hedge Funds Weigh In On NextDecade

Institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its holdings in NextDecade by 58.5% in the third quarter. Farther Finance Advisors LLC now owns 7,816 shares of the company’s stock valued at $50,000 after acquiring an additional 2,886 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in NextDecade during the 2nd quarter valued at about $182,000. Integrated Wealth Concepts LLC acquired a new position in NextDecade during the second quarter worth $50,000. NewEdge Advisors LLC raised its stake in NextDecade by 112.5% during the second quarter. NewEdge Advisors LLC now owns 5,327 shares of the company’s stock worth $40,000 after purchasing an additional 2,820 shares during the period. Finally, Arizona State Retirement System grew its holdings in shares of NextDecade by 24.2% during the 2nd quarter. Arizona State Retirement System now owns 40,206 shares of the company’s stock worth $303,000 after purchasing an additional 7,823 shares during the period. 66.74% of the stock is owned by hedge funds and other institutional investors.

NextDecade Company Profile

NextDecade Corporation is an energy company focused on developing liquefied natural gas (LNG) infrastructure and related carbon-management solutions. The company’s principal project is Rio Grande LNG, an LNG export facility located near Brownsville, Texas, on the U.S. Gulf Coast.

Rio Grande LNG is designed to receive natural gas, process it into LNG, and export the product by ship to customers in international markets. The project is being developed in multiple phases and is intended to serve energy markets in Europe, Asia and other regions seeking access to U.S.