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

Shares of NextDecade Corporation (NASDAQ:NEXT) have been assigned a consensus rating of “Hold” from the five analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $8.00.

A number of equities analysts have issued reports on NEXT shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NextDecade in a report on Monday, December 29th. TD Cowen reduced their price target on NextDecade from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, October 23rd. Finally, Capital One Financial began coverage on shares of NextDecade in a report on Friday, February 6th. They issued an “overweight” rating and a $7.00 price objective for the company.

NextDecade Stock Performance

NASDAQ:NEXT opened at $5.20 on Wednesday. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -7.12 and a beta of 1.99. NextDecade has a fifty-two week low of $4.75 and a fifty-two week high of $12.12. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a fifty day moving average price of $5.30 and a 200-day moving average price of $6.87.

Insider Activity at NextDecade

In other NextDecade news, major shareholder Aerospace Co. Ltd. Hanwha acquired 851,971 shares of the stock in a transaction dated Thursday, December 11th. The stock was purchased at an average cost of $5.83 per share, with a total value of $4,966,990.93. Following the transaction, the insider owned 25,620,222 shares in the company, valued at approximately $149,365,894.26. The trade was a 3.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders purchased 6,586,024 shares of company stock valued at $38,800,796 over the last quarter. 1.80% of the stock is owned by insiders.

Institutional Trading of NextDecade

Several hedge funds have recently bought and sold shares of the business. Westwood Holdings Group Inc. boosted its stake in shares of NextDecade by 6.5% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,255,874 shares of the company’s stock worth $11,190,000 after buying an additional 76,238 shares during the last quarter. ELCO Management Co. LLC increased its position in shares of NextDecade by 40.7% during the second quarter. ELCO Management Co. LLC now owns 239,768 shares of the company’s stock valued at $2,136,000 after acquiring an additional 69,300 shares during the last quarter. Geode Capital Management LLC lifted its holdings in NextDecade by 12.3% during the second quarter. Geode Capital Management LLC now owns 3,541,633 shares of the company’s stock worth $31,559,000 after acquiring an additional 386,613 shares during the period. Catalyst Capital Advisors LLC lifted its holdings in NextDecade by 2.3% during the second quarter. Catalyst Capital Advisors LLC now owns 4,704,427 shares of the company’s stock worth $41,916,000 after acquiring an additional 107,004 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in NextDecade in the second quarter worth $815,000. Institutional investors and hedge funds own 66.74% of the company’s stock.

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.