NextDecade (NASDAQ:NEXT) Raised to “Overweight” at Morgan Stanley

Morgan Stanley upgraded shares of NextDecade (NASDAQ:NEXT) from an equal weight rating to an overweight rating in a research report sent to investors on Monday, Analyst Ratings Network reports. They currently have $6.00 target price on the stock, up from their prior target price of $2.00.

A number of other brokerages have also recently commented on NEXT. Credit Suisse Group raised NextDecade from a neutral rating to an outperform rating and set a $3.00 price target for the company in a research report on Wednesday, March 24th. Zacks Investment Research raised NextDecade from a sell rating to a hold rating in a research report on Tuesday, March 23rd.

Shares of NEXT stock opened at $4.60 on Monday. NextDecade has a 1-year low of $1.19 and a 1-year high of $6.13. The stock’s fifty day simple moving average is $2.40.

NextDecade (NASDAQ:NEXT) last announced its earnings results on Monday, May 17th. The company reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. As a group, analysts predict that NextDecade will post -0.27 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP acquired a new position in shares of NextDecade in the 4th quarter valued at about $43,000. Schonfeld Strategic Advisors LLC acquired a new position in NextDecade in the 1st quarter worth about $43,000. Rhumbline Advisers raised its holdings in NextDecade by 15.2% in the 4th quarter. Rhumbline Advisers now owns 31,177 shares of the company’s stock worth $65,000 after purchasing an additional 4,117 shares during the period. Wells Fargo & Company MN raised its holdings in NextDecade by 16.7% in the 4th quarter. Wells Fargo & Company MN now owns 36,467 shares of the company’s stock worth $76,000 after purchasing an additional 5,226 shares during the period. Finally, Barclays PLC raised its holdings in NextDecade by 326.5% in the 1st quarter. Barclays PLC now owns 28,936 shares of the company’s stock worth $77,000 after purchasing an additional 22,152 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

NextDecade Company Profile

NextDecade Corporation, a liquefied natural gas (LNG) development company, engages in the development activities related to the liquefaction and sale of LNG. It focusses on the development activities of Rio Grande LNG terminal facility located in the Port of Brownsville, southern Texas. The company is headquartered in Houston, Texas.

Recommended Story: Initial Coin Offerings entail a high degree of risk

Receive News & Ratings for NextDecade Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NextDecade and related companies with MarketBeat.com's FREE daily email newsletter.