NextDecade (NASDAQ:NEXT) Stock Price Up 5% – Time to Buy?

NextDecade Corporation (NASDAQ:NEXT)’s share price traded up 5% on Tuesday . The stock traded as high as $7.95 and last traded at $7.9670. Approximately 542,718 shares changed hands during trading, a decline of 86% from the average session volume of 3,775,245 shares. The stock had previously closed at $7.59.

Analyst Ratings Changes

NEXT has been the subject of several recent research reports. Weiss Ratings raised NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th. Citigroup initiated coverage on NextDecade in a report on Wednesday, May 13th. They issued a “buy” rating and a $11.00 target price for the company. Finally, Morgan Stanley raised their target price on NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.00.

NextDecade Stock Performance

The firm’s 50 day moving average price is $7.98 and its two-hundred day moving average price is $6.69. The firm has a market cap of $2.08 billion, a PE ratio of -5.86 and a beta of 1.51. The company has a debt-to-equity ratio of 3.96, a quick ratio of 0.40 and a current ratio of 0.40.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.15. On average, research analysts forecast that NextDecade Corporation will post -2.16 earnings per share for the current year.

Institutional Trading of NextDecade

Hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Bank raised 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. AQR Capital Management LLC acquired a new stake in shares of NextDecade during the first quarter valued at about $386,000. Millennium Management LLC raised its stake in shares of NextDecade by 10.1% in the 1st quarter. Millennium Management LLC now owns 1,404,770 shares of the company’s stock valued at $10,929,000 after acquiring an additional 128,568 shares during the period. Caxton Associates LLP acquired a new position in shares of NextDecade in the 1st quarter worth approximately $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of NextDecade by 13.9% during the 1st 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 period. 66.74% of the stock is owned by institutional investors and hedge funds.

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.