NextDecade Corporation (NASDAQ:NEXT) Stock Has Average Target Price of $8.10 According to Analysts

NextDecade Corporation (NASDAQ:NEXT) has been given an average recommendation of “Hold” by the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $8.10.

Several equities research analysts have commented on the stock. Wall Street Zen lowered shares of NextDecade from a “sell” rating to a “strong sell” rating in a research note on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of NextDecade in a research report on Thursday. Finally, The Goldman Sachs Group initiated 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.

NextDecade Stock Performance

NASDAQ NEXT opened at $6.30 on Tuesday. The company has a fifty day moving average price of $6.86 and a 200-day moving average price of $6.90. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -4.63 and a beta of 1.53. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.37 and a quick ratio of 0.37. NextDecade has a 1 year low of $4.75 and a 1 year high of $9.24.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.41. As a group, equities research analysts predict that NextDecade will post -2.10 EPS for the current fiscal year.

Institutional Trading of NextDecade

A number of hedge funds have recently bought and sold shares of the business. Nykredit A S purchased a new position in NextDecade in the second quarter worth $25,000. EverSource Wealth Advisors LLC increased its position in shares of 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 during the last quarter. NewEdge Advisors LLC increased its position in shares of NextDecade by 112.5% during the 2nd quarter. NewEdge Advisors LLC now owns 5,327 shares of the company’s stock valued at $40,000 after purchasing an additional 2,820 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of NextDecade by 153.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,602 shares of the company’s stock worth $43,000 after purchasing an additional 3,396 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of NextDecade during the 2nd quarter worth $50,000. 66.74% of the stock is currently owned by institutional investors.

About NextDecade

NextDecade Corporation is an energy company focused on developing liquefied natural gas (LNG) infrastructure and related carbon-management solutions. The company’s principal project is Rio Grande LNG, an LNG export facility located near Brownsville, Texas, on the U.S. Gulf Coast.

Rio Grande LNG is designed to receive natural gas, process it into LNG, and export the product by ship to customers in international markets. The project is being developed in multiple phases and is intended to serve energy markets in Europe, Asia and other regions seeking access to U.S.