Brokerages Set NextDecade Corporation (NASDAQ:NEXT) PT at $8.00

Shares of NextDecade Corporation (NASDAQ:NEXT) have earned a consensus rating of “Hold” from the six analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $8.00.

NEXT has been the topic of a number of analyst reports. TD Cowen cut their price target on NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday, March 5th. Weiss Ratings upgraded NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th. Morgan Stanley lifted their price target on NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Tuesday, April 21st. Citigroup initiated coverage on NextDecade in a report on Wednesday, May 13th. They issued a “buy” rating and a $11.00 price target on the stock. Finally, Capital One Financial initiated coverage on NextDecade in a report on Friday, February 6th. They issued an “overweight” rating and a $7.00 price target on the stock.

Insider Activity

In related news, Director Pamela K.M. Beall purchased 71,500 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were acquired at an average cost of $7.07 per share, for a total transaction of $505,505.00. Following the acquisition, the director owned 71,500 shares of the company’s stock, valued at $505,505. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its holdings in shares of NextDecade by 302.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company’s stock valued at $32,000 after acquiring an additional 3,161 shares during the period. Empowered Funds LLC grew its stake in NextDecade by 11.6% during the 1st quarter. Empowered Funds LLC now owns 356,264 shares of the company’s stock worth $2,729,000 after buying an additional 36,917 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in NextDecade by 10.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 77,953 shares of the company’s stock worth $597,000 after buying an additional 7,087 shares during the last quarter. Quantinno Capital Management LP grew its stake in NextDecade by 150.3% during the 1st quarter. Quantinno Capital Management LP now owns 195,185 shares of the company’s stock worth $1,495,000 after buying an additional 117,201 shares during the last quarter. Finally, Clough Capital Partners L P purchased a new position in NextDecade during the 1st quarter worth $2,702,000. 66.74% of the stock is currently owned by hedge funds and other institutional investors.

NextDecade Trading Up 1.0%

NEXT opened at $8.05 on Friday. The stock’s fifty day moving average is $7.83 and its two-hundred day moving average is $6.32. The company has a market capitalization of $2.13 billion, a P/E ratio of -6.01 and a beta of 1.65. NextDecade has a 52 week low of $4.75 and a 52 week high of $12.12. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.96.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings data on Friday, February 27th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.20). Analysts forecast that NextDecade will post -2.16 earnings per share for the current year.

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.