NextDecade Corporation (NASDAQ:NEXT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of NextDecade Corporation (NASDAQ:NEXT) have received a consensus rating of “Hold” from the six ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $8.00.

Several research firms have commented on NEXT. Citigroup started coverage on NextDecade in a research note on Wednesday, May 13th. They set a “buy” rating and a $11.00 price objective for the company. Weiss Ratings upgraded NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, April 27th. Finally, Morgan Stanley increased their price target on NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 21st.

NextDecade Stock Down 0.6%

Shares of NASDAQ NEXT traded down $0.05 during midday trading on Friday, hitting $7.99. 1,488,083 shares of the company’s stock were exchanged, compared to its average volume of 2,917,950. The firm’s fifty day simple moving average is $8.03 and its 200-day simple moving average is $6.76. The company has a market cap of $2.12 billion, a PE ratio of -5.96 and a beta of 1.51. NextDecade has a twelve month low of $4.75 and a twelve month high of $12.12. The company has a debt-to-equity ratio of 3.96, a current ratio of 0.40 and a quick ratio of 0.40.

NextDecade (NASDAQ:NEXT) last announced 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. Research analysts predict that NextDecade will post -2.16 EPS for the current fiscal year.

Institutional Investors Weigh In On NextDecade

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Collective Family Office LLC boosted its position in NextDecade by 13.4% during the second quarter. Collective Family Office LLC now owns 17,194 shares of the company’s stock worth $130,000 after purchasing an additional 2,033 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of NextDecade by 56.7% in the first quarter. Pacer Advisors Inc. now owns 416,955 shares of the company’s stock valued at $3,194,000 after buying an additional 150,844 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of NextDecade by 302.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company’s stock worth $32,000 after buying an additional 3,161 shares during the last quarter. Empowered Funds LLC boosted its position in shares of NextDecade by 11.6% in the 1st quarter. Empowered Funds LLC now owns 356,264 shares of the company’s stock worth $2,729,000 after buying an additional 36,917 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of NextDecade by 10.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 77,953 shares of the company’s stock worth $597,000 after buying an additional 7,087 shares in the last quarter. Institutional investors and hedge funds own 66.74% of the company’s stock.

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.