Pacer Advisors Inc. Boosts Stake in NextDecade Corporation $NEXT

Pacer Advisors Inc. grew its holdings in shares of NextDecade Corporation (NASDAQ:NEXT) by 56.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 416,955 shares of the company’s stock after acquiring an additional 150,844 shares during the period. Pacer Advisors Inc. owned about 0.16% of NextDecade worth $3,194,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NEXT. US Bancorp DE lifted its stake in shares of NextDecade by 22,782.4% in the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $26,000 after acquiring an additional 3,873 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in NextDecade by 302.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company’s stock valued at $32,000 after purchasing an additional 3,161 shares in the last quarter. Comerica Bank increased its holdings in NextDecade by 88.0% during the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after purchasing an additional 1,900 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in NextDecade during the 2nd quarter worth approximately $36,000. Finally, Aster Capital Management DIFC Ltd increased its holdings in NextDecade by 111.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 7,201 shares of the company’s stock worth $38,000 after purchasing an additional 3,792 shares during the last quarter. 66.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Morgan Stanley increased their target price on NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 21st. The Goldman Sachs Group began coverage on shares of NextDecade in a research report on Wednesday, July 15th. They set a “neutral” rating and a $8.50 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextDecade in a report on Friday, July 24th. Finally, Citigroup began coverage on shares of NextDecade in a report on Wednesday, May 13th. They issued a “buy” rating and a $11.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, NextDecade presently has a consensus rating of “Hold” and a consensus price target of $8.10.

NextDecade Price Performance

Shares of NASDAQ:NEXT opened at $6.80 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 3.70. NextDecade Corporation has a fifty-two week low of $4.75 and a fifty-two week high of $11.27. The firm has a 50-day simple moving average of $7.58 and a 200 day simple moving average of $7.02. The company has a market cap of $1.81 billion, a PE ratio of -5.00 and a beta of 1.55.

NextDecade (NASDAQ:NEXT) last issued its earnings results on Thursday, July 30th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.41. On average, sell-side analysts anticipate that NextDecade Corporation will post -2.94 EPS for the current year.

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.