Cowen Downgrades Nextdecade (NEXT) to Market Perform

Nextdecade (NASDAQ:NEXT) was downgraded by analysts at Cowen from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday, MarketBeat reports.

Several other equities research analysts have also recently weighed in on NEXT. Zacks Investment Research upgraded shares of Nextdecade from a “sell” rating to a “hold” rating in a research report on Wednesday, June 27th. ValuEngine lowered shares of Nextdecade from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Stifel Nicolaus set a $8.00 target price on shares of Nextdecade and gave the company a “hold” rating in a research note on Saturday, August 11th. Finally, Bank of America lowered shares of Nextdecade from a “buy” rating to a “neutral” rating and set a $6.00 target price on the stock. in a research note on Friday, September 7th. Six investment analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus target price of $7.50.

NEXT opened at $5.46 on Wednesday. Nextdecade has a 1-year low of $3.95 and a 1-year high of $10.80.

Nextdecade (NASDAQ:NEXT) last posted its quarterly earnings data on Thursday, August 9th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.06. equities research analysts forecast that Nextdecade will post -0.35 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Deprince Race & Zollo Inc. boosted its stake in shares of Nextdecade by 33.8% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 57,000 shares of the company’s stock valued at $390,000 after purchasing an additional 14,400 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Nextdecade by 44.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 55,799 shares of the company’s stock valued at $382,000 after purchasing an additional 17,151 shares during the last quarter. California Public Employees Retirement System bought a new position in shares of Nextdecade in the 2nd quarter valued at about $137,000. Bank of New York Mellon Corp bought a new position in shares of Nextdecade in the 2nd quarter valued at about $160,000. Finally, Northern Trust Corp boosted its stake in shares of Nextdecade by 434.9% in the 2nd quarter. Northern Trust Corp now owns 85,450 shares of the company’s stock valued at $585,000 after purchasing an additional 69,474 shares during the last quarter. 86.32% of the stock is currently owned by institutional investors.

Nextdecade Company Profile

NextDecade Corporation, a liquefied natural gas (LNG) development company, engages in the development of LNG export projects and associated pipelines in the State of Texas. It intends to develop a portfolio of LNG projects, including Rio Grande LNG export facility, which has a liquefaction capacity of 27 million tons of LNG per annum located in Brownsville, Texas; and the 4.5 Bcf/d Rio Bravo Pipeline that transports natural gas from the Agua Dulce supply area to Rio Grande LNG.

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