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

NextDecade Corporation (NASDAQ:NEXT) has earned a consensus recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat 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 issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $8.10.

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

Institutional Investors Weigh In On NextDecade

A number of hedge funds have recently modified their holdings of NEXT. BlackRock Inc. purchased a new position in NextDecade during the second quarter worth about $179,608,000. Man Investment Partners US LP purchased a new stake in shares of NextDecade in the 4th quarter valued at approximately $48,879,000. Catalyst Capital Advisors LLC increased its holdings 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 worth $39,959,000 after buying an additional 574,080 shares during the last quarter. Wolf Hill Capital Management LP increased its holdings in shares of NextDecade by 25.9% during the 4th quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company’s stock worth $19,493,000 after buying an additional 761,299 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of NextDecade during the 2nd quarter valued at approximately $14,415,000. Hedge funds and other institutional investors own 66.74% of the company’s stock.

NextDecade Price Performance

Shares of NASDAQ NEXT opened at $6.66 on Friday. The firm has a 50-day simple moving average of $7.09 and a 200-day simple moving average of $7.48. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -4.90 and a beta of 1.57. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 3.70. NextDecade has a 52 week low of $4.75 and a 52 week high of $9.24.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.41. On average, equities analysts predict that NextDecade will post -2.1 earnings per share for the current fiscal year.

About NextDecade

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.