NextDecade Corporation (NASDAQ:NEXT) Given Average Rating of “Hold” by Brokerages

NextDecade Corporation (NASDAQ:NEXT) has been assigned an average rating of “Hold” from the five brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $6.6667.

Several equities analysts have recently issued reports on NEXT shares. Capital One Financial began coverage on NextDecade in a research report on Friday, February 6th. They set an “overweight” rating and a $7.00 price target on the stock. Morgan Stanley cut their price objective on NextDecade from $10.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, February 24th. TD Cowen decreased their target price on NextDecade from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NextDecade in a report on Monday, December 29th.

NextDecade Stock Down 0.9%

NEXT stock opened at $5.77 on Friday. NextDecade has a 52 week low of $4.75 and a 52 week high of $12.12. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -4.93 and a beta of 2.02. The firm’s 50-day moving average is $5.30 and its two-hundred day moving average is $6.14. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 3.70.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings data on Friday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.20). On average, analysts forecast that NextDecade will post -0.61 earnings per share for the current fiscal year.

Institutional Trading of NextDecade

Hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank boosted its holdings in NextDecade by 88.0% during the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after buying an additional 1,900 shares in the last quarter. AQR Capital Management LLC acquired a new position in NextDecade in the first quarter worth approximately $386,000. Millennium Management LLC increased its holdings in shares of 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 buying an additional 128,568 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of NextDecade during the 1st quarter valued at $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of NextDecade by 13.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 277,307 shares of the company’s stock valued at $2,157,000 after acquiring an additional 33,941 shares during the last quarter. 66.74% of the stock is currently owned by institutional investors.

NextDecade Company Profile

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.