Clough Capital Partners L P Invests $2.70 Million in NextDecade Corporation $NEXT

Clough Capital Partners L P bought a new position in shares of NextDecade Corporation (NASDAQ:NEXT) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 352,759 shares of the company’s stock, valued at approximately $2,702,000.

A number of other hedge funds also recently modified their holdings of NEXT. US Bancorp DE lifted its position in NextDecade by 22,782.4% during the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $26,000 after purchasing an additional 3,873 shares during the period. Raymond James Financial Inc. acquired a new stake in NextDecade during the second quarter worth about $36,000. Comerica Bank increased its holdings in 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 buying an additional 1,900 shares during the period. PNC Financial Services Group Inc. increased its holdings in NextDecade by 153.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,602 shares of the company’s stock valued at $43,000 after buying an additional 3,396 shares during the period. Finally, Aster Capital Management DIFC Ltd raised its position in shares of NextDecade by 111.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 7,201 shares of the company’s stock valued at $38,000 after buying an additional 3,792 shares in the last quarter. Institutional investors own 66.74% of the company’s stock.

NextDecade Price Performance

NEXT stock opened at $7.01 on Monday. The stock has a market capitalization of $1.86 billion, a P/E ratio of -5.23 and a beta of 1.51. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.96. NextDecade Corporation has a 12 month low of $4.75 and a 12 month high of $11.85. The firm has a 50-day moving average price of $7.93 and a 200-day moving average price of $6.93.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.15. As a group, equities research analysts anticipate that NextDecade Corporation will post -2.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NEXT. Weiss Ratings raised shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th. Morgan Stanley lifted their price objective on shares of NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 21st. The Goldman Sachs Group started coverage on shares of NextDecade in a research report on Wednesday, July 15th. They set a “neutral” rating and a $8.50 price objective for the company. Finally, Citigroup initiated coverage on NextDecade in a research note on Wednesday, May 13th. They set a “buy” rating and a $11.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.10.

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.