NextDecade Corporation (NASDAQ:NEXT) Receives $8.10 Consensus Price Target from Analysts

Shares of NextDecade Corporation (NASDAQ:NEXT) have received a consensus rating of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $8.10.

A number of research analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of NextDecade in a report on Friday, July 24th. Citigroup initiated coverage on shares of NextDecade in a report on Wednesday, May 13th. They set a “buy” rating and a $11.00 price target on the stock. The Goldman Sachs Group initiated coverage on shares of NextDecade in a research note on Wednesday, July 15th. They issued a “neutral” rating and a $8.50 price objective for the company. Finally, Wall Street Zen upgraded shares of NextDecade from a “strong sell” rating to a “sell” rating in a research report on Saturday.

NextDecade Stock Performance

Shares of NEXT opened at $7.34 on Monday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.37 and a current ratio of 0.37. NextDecade has a 52-week low of $4.75 and a 52-week high of $10.84. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -5.40 and a beta of 1.57. The business’s fifty day moving average is $7.26 and its 200-day moving average is $7.31.

NextDecade (NASDAQ:NEXT) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.41. Equities analysts anticipate that NextDecade will post -2.94 EPS for the current fiscal year.

Institutional Investors Weigh In On NextDecade

Hedge funds have recently modified their holdings of the company. 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 worth $32,000 after purchasing an additional 1,900 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of NextDecade during the first quarter valued at $386,000. Millennium Management LLC lifted its holdings in shares of NextDecade by 10.1% during the first quarter. Millennium Management LLC now owns 1,404,770 shares of the company’s stock worth $10,929,000 after purchasing an additional 128,568 shares during the period. Caxton Associates LLP acquired a new position in shares of NextDecade during the first quarter worth $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of NextDecade by 13.9% in 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 during the last quarter. Institutional investors and hedge funds own 66.74% of the company’s stock.

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.