NextDecade (NASDAQ:NEXT) Trading Up 5% – What’s Next?

NextDecade Corporation (NASDAQ:NEXT) shares shot up 5% during trading on Tuesday . The stock traded as high as $7.95 and last traded at $7.9670. Approximately 542,718 shares traded hands during trading, a decline of 86% from the average session volume of 3,775,245 shares. The stock had previously closed at $7.59.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Tuesday, April 21st. Citigroup assumed coverage on shares of NextDecade in a research note on Wednesday, May 13th. They set a “buy” rating and a $11.00 price target on the stock. Finally, Weiss Ratings raised shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.00.

NextDecade Trading Up 3.5%

The company’s 50 day simple moving average is $7.98 and its 200 day simple moving average is $6.69. The company has a debt-to-equity ratio of 3.96, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -5.86 and a beta of 1.51.

NextDecade (NASDAQ:NEXT) last released its earnings results on Thursday, April 30th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.15. As a group, research analysts expect that NextDecade Corporation will post -2.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextDecade

Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE raised its holdings in NextDecade by 22,782.4% in the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock valued at $26,000 after acquiring an additional 3,873 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of NextDecade by 302.8% in 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 during the last quarter. Comerica Bank raised its holdings in shares of NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after purchasing an additional 1,900 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of NextDecade in the 2nd quarter valued at $36,000. Finally, Aster Capital Management DIFC Ltd lifted its position in shares of 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 institutional investors and hedge funds.

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.