NextDecade Corporation (NASDAQ:NEXT) Receives $6.67 Average Target Price from Brokerages

Shares of NextDecade Corporation (NASDAQ:NEXT) have earned a consensus rating of “Hold” from the five brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $6.6667.

A number of analysts recently issued reports on NEXT shares. TD Cowen lowered their price target on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday, March 5th. Capital One Financial started coverage on shares of NextDecade in a research report on Friday, February 6th. They issued an “overweight” rating and a $7.00 price objective for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. Finally, Morgan Stanley cut their price target on NextDecade from $10.00 to $7.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 24th.

NextDecade Stock Performance

Shares of NASDAQ:NEXT opened at $5.56 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 3.70. NextDecade has a 12-month low of $4.75 and a 12-month high of $12.12. The business has a 50 day moving average of $5.27 and a two-hundred day moving average of $6.21. The company has a market capitalization of $1.47 billion, a PE ratio of -4.75 and a beta of 2.02.

NextDecade (NASDAQ:NEXT) last issued its quarterly earnings data on Friday, February 27th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.20). As a group, analysts forecast that NextDecade will post -0.61 EPS for the current year.

Insider Buying and Selling

In other NextDecade news, major shareholder Aerospace Co. Ltd. Hanwha acquired 800,000 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was acquired at an average cost of $5.54 per share, for a total transaction of $4,432,000.00. Following the completion of the transaction, the insider directly owned 26,420,222 shares of the company’s stock, valued at $146,368,029.88. This represents a 3.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On NextDecade

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in NextDecade by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 10,378,992 shares of the company’s stock worth $70,473,000 after acquiring an additional 52,803 shares in the last quarter. Man Investment Partners US LP purchased a new position in NextDecade during the fourth quarter valued at $48,879,000. Wolf Hill Capital Management LP grew its position in shares of NextDecade by 25.9% in the fourth quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company’s stock valued at $19,493,000 after purchasing an additional 761,299 shares during the period. Geode Capital Management LLC increased its stake in shares of NextDecade by 12.3% during the second quarter. Geode Capital Management LLC now owns 3,541,633 shares of the company’s stock worth $31,559,000 after purchasing an additional 386,613 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of NextDecade by 16.7% during the second quarter. Bank of America Corp DE now owns 3,102,352 shares of the company’s stock worth $27,642,000 after purchasing an additional 444,518 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.