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

NextDecade Corporation (NASDAQ:NEXT) has been given an average recommendation of “Hold” by the six brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $8.00.

Several brokerages have commented on NEXT. TD Cowen lowered their price target on NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday, March 5th. Citigroup began coverage on NextDecade in a report on Wednesday, May 13th. They set a “buy” rating and a $11.00 price target on the stock. Morgan Stanley increased their price target on NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Tuesday, April 21st. Finally, Weiss Ratings upgraded NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th.

NextDecade Trading Down 8.0%

Shares of NEXT stock opened at $7.73 on Tuesday. NextDecade has a 12 month low of $4.75 and a 12 month high of $12.12. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.96. The business’s 50 day moving average is $8.01 and its two-hundred day moving average is $6.52. The company has a market cap of $2.05 billion, a PE ratio of -5.77 and a beta of 1.60.

NextDecade (NASDAQ:NEXT) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.15. Equities analysts predict that NextDecade will post -2.16 EPS for the current year.

Insider Buying and Selling

In related news, Director Pamela K.M. Beall purchased 71,500 shares of the stock in a transaction on Monday, March 23rd. The shares were bought at an average price of $7.07 per share, for a total transaction of $505,505.00. Following the completion of the acquisition, the director directly owned 71,500 shares in the company, valued at approximately $505,505. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of NextDecade

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position 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 purchasing an additional 52,803 shares during the last quarter. Man Investment Partners US LP acquired a new stake in NextDecade in the 4th quarter worth $48,879,000. Catalyst Capital Advisors LLC grew its position in NextDecade by 12.4% in the 1st quarter. Catalyst Capital Advisors LLC now owns 5,216,592 shares of the company’s stock worth $39,959,000 after purchasing an additional 574,080 shares during the last quarter. Wolf Hill Capital Management LP grew its position in NextDecade by 25.9% in the 4th quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company’s stock worth $19,493,000 after purchasing an additional 761,299 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in NextDecade by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 3,457,163 shares of the company’s stock worth $18,222,000 after purchasing an additional 45,757 shares during the last quarter. 66.74% of the stock is owned by institutional investors.

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.