Analysts Set NextDecade Corporation (NASDAQ:NEXT) Target Price at $8.00

Shares of NextDecade Corporation (NASDAQ:NEXT) have earned a consensus rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $8.10.

Several equities research analysts recently commented on the company. Morgan Stanley increased their price objective on NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 21st. Weiss Ratings raised NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, April 27th. The Goldman Sachs Group assumed coverage on shares of NextDecade in a research note on Wednesday. They set a “neutral” rating and a $8.50 target price on the stock. Finally, Citigroup assumed coverage on shares of NextDecade in a report on Wednesday, May 13th. They set a “buy” rating and a $11.00 price target on the stock.

NextDecade Stock Performance

NEXT stock opened at $7.59 on Friday. The stock has a market capitalization of $2.01 billion, a PE ratio of -5.66 and a beta of 1.51. NextDecade has a 12-month low of $4.75 and a 12-month high of $12.12. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.96. The stock’s 50 day simple moving average is $8.04 and its 200 day simple moving average is $6.83.

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

Institutional Investors Weigh In On NextDecade

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE raised its stake in NextDecade by 22,782.4% during the 3rd quarter. US Bancorp DE now owns 3,890 shares of the company’s stock valued at $26,000 after buying an additional 3,873 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of NextDecade during the 2nd quarter valued at $36,000. Comerica Bank boosted its stake in shares of NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after buying an additional 1,900 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of NextDecade by 302.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company’s stock worth $32,000 after acquiring an additional 3,161 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of NextDecade by 153.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,602 shares of the company’s stock worth $43,000 after acquiring an additional 3,396 shares during the period. Hedge funds and other institutional investors own 66.74% of the company’s stock.

About NextDecade

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.