TD Cowen Cuts NextDecade (NASDAQ:NEXT) Price Target to $6.00

NextDecade (NASDAQ:NEXT) had its target price lowered by investment analysts at TD Cowen from $7.00 to $6.00 in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price objective points to a potential upside of 1.18% from the company’s current price.

A number of other equities research analysts have also weighed in on NEXT. Weiss Ratings reissued a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. Morgan Stanley decreased their price target on NextDecade from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 24th. Finally, Capital One Financial began coverage on NextDecade in a research note on Friday, February 6th. They set an “overweight” rating and a $7.00 price objective for the company. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.67.

NextDecade Trading Up 5.7%

Shares of NEXT opened at $5.93 on Thursday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.64 and a current ratio of 0.54. NextDecade has a fifty-two week low of $4.75 and a fifty-two week high of $12.12. The firm has a 50 day moving average price of $5.26 and a 200-day moving average price of $6.36. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -5.07 and a beta of 2.02.

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

Insider Buying and Selling at NextDecade

In other NextDecade news, major shareholder Aerospace Co. Ltd. Hanwha purchased 800,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was bought at an average price of $5.54 per share, with a total value of $4,432,000.00. Following the completion of the purchase, the insider directly owned 26,420,222 shares of the company’s stock, valued at $146,368,029.88. The trade was a 3.12% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders purchased 2,735,627 shares of company stock valued at $16,078,438. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NextDecade

Several institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE increased its position in shares of NextDecade by 22,782.4% during the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock valued at $26,000 after buying an additional 3,873 shares during the period. Bessemer Group Inc. bought a new position in shares of NextDecade in the 3rd quarter worth approximately $29,000. Comerica Bank lifted its stake in shares of 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 purchasing an additional 1,900 shares during the period. AlphaQuest LLC boosted its position in shares of NextDecade by 102.2% during the second quarter. AlphaQuest LLC now owns 3,961 shares of the company’s stock valued at $35,000 after purchasing an additional 2,002 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in NextDecade in the second quarter worth $36,000. 66.74% of the stock is owned by hedge funds and other institutional investors.

About NextDecade

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.