NextDecade Corporation (NASDAQ:NEXT) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of NextDecade Corporation (NASDAQ:NEXT) have been assigned an average rating of “Hold” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $8.10.

Several equities analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of NextDecade in a research report on Friday, July 24th. The Goldman Sachs Group began coverage on NextDecade in a research note on Wednesday, July 15th. They issued a “neutral” rating and a $8.50 target price on the stock. Finally, Wall Street Zen upgraded shares of NextDecade from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 5th.

NextDecade Stock Down 3.4%

NextDecade stock opened at $6.34 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $1.69 billion, a P/E ratio of -4.66 and a beta of 1.57. The stock’s fifty day simple moving average is $7.02 and its 200-day simple moving average is $7.49. NextDecade has a twelve month low of $4.75 and a twelve month high of $9.24.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.41. As a group, equities analysts expect that NextDecade will post -2.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NextDecade

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in NextDecade in the 2nd quarter valued at about $179,608,000. Man Investment Partners US LP acquired a new stake in shares of NextDecade in the fourth quarter worth approximately $48,879,000. Catalyst Capital Advisors LLC grew its stake in shares of NextDecade by 12.4% during the 1st quarter. Catalyst Capital Advisors LLC now owns 5,216,592 shares of the company’s stock valued at $39,959,000 after buying an additional 574,080 shares during the period. Wolf Hill Capital Management LP grew its position in NextDecade by 25.9% during 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 acquiring an additional 761,299 shares during the period. Finally, Bank of America Corp DE purchased a new stake in shares of NextDecade during the 2nd quarter worth about $14,415,000. Hedge funds and other institutional investors own 66.74% of the company’s stock.

NextDecade Company Profile

NextDecade Corporation is an energy infrastructure company focused on developing liquefied natural gas (LNG) facilities and related projects. The company is headquartered in Houston, Texas, and its activities center on the development, construction and operation of LNG export infrastructure designed to serve international natural gas markets.

NextDecade’s primary project is Rio Grande LNG, an export terminal under development at the Port of Brownsville in southern Texas. The project is planned to include multiple LNG production trains, storage facilities, marine loading infrastructure and related pipeline connections.