NextDecade Corporation (NASDAQ:NEXT) Receives Average Recommendation of “Hold” from Analysts

Shares of NextDecade Corporation (NASDAQ:NEXT) have earned an average recommendation of “Hold” from the five brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $8.00.

A number of equities research analysts recently issued reports on NEXT shares. Weiss Ratings reissued a “sell (e+)” rating on shares of NextDecade in a report on Monday, December 29th. Capital One Financial initiated coverage on shares of NextDecade in a research note on Friday, February 6th. They issued an “overweight” rating and a $7.00 price target for the company. Finally, TD Cowen reduced their price target on shares of NextDecade from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, October 23rd.

Insider Buying and Selling

In other NextDecade news, major shareholder Aerospace Co. Ltd. Hanwha purchased 800,000 shares of the stock in a transaction dated Friday, December 12th. The stock was acquired at an average cost of $5.54 per share, for a total transaction of $4,432,000.00. Following the acquisition, the insider owned 26,420,222 shares in the company, valued at $146,368,029.88. This trade represents a 3.12% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 5,521,600 shares of company stock valued at $32,477,483 in the last quarter. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Comerica Bank raised its stake in shares of NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after acquiring an additional 1,900 shares during the period. AQR Capital Management LLC acquired a new stake in NextDecade in the 1st quarter valued at approximately $386,000. Millennium Management LLC raised its position in NextDecade by 10.1% in the first quarter. Millennium Management LLC now owns 1,404,770 shares of the company’s stock valued at $10,929,000 after purchasing an additional 128,568 shares during the period. Caxton Associates LLP purchased a new stake in NextDecade in the first quarter valued at 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 first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 277,307 shares of the company’s stock worth $2,157,000 after purchasing an additional 33,941 shares in the last quarter. Hedge funds and other institutional investors own 66.74% of the company’s stock.

NextDecade Stock Down 2.3%

Shares of NASDAQ:NEXT opened at $5.08 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 3.34. The business has a fifty day moving average of $5.25 and a two-hundred day moving average of $6.72. The stock has a market cap of $1.35 billion, a P/E ratio of -6.96 and a beta of 1.99. NextDecade has a 52-week low of $4.75 and a 52-week high of $12.12.

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.