NextDecade (NASDAQ:NEXT) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of NextDecade (NASDAQ:NEXT) from a sell rating to a strong sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

NEXT has been the subject of several other research reports. The Goldman Sachs Group assumed coverage on NextDecade in a research report on Wednesday, July 15th. They issued a “neutral” rating and a $8.50 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of NextDecade in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NextDecade presently has an average rating of “Hold” and a consensus target price of $8.10.

NextDecade Stock Up 0.2%

Shares of NASDAQ NEXT opened at $6.30 on Friday. The firm’s fifty day moving average is $6.86 and its 200 day moving average is $6.90. NextDecade has a 52 week low of $4.75 and a 52 week high of $9.24. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 3.70. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -4.63 and a beta of 1.53.

NextDecade (NASDAQ:NEXT) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.41. On average, equities research analysts expect that NextDecade will post -2.10 earnings per share for the current year.

Hedge Funds Weigh In On NextDecade

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nykredit A S purchased a new stake in NextDecade during the 2nd quarter valued at $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of NextDecade by 302.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company’s stock worth $32,000 after purchasing an additional 3,161 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of NextDecade by 112.5% in the 2nd quarter. NewEdge Advisors LLC now owns 5,327 shares of the company’s stock worth $40,000 after purchasing an additional 2,820 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of NextDecade by 153.9% in 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 in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of NextDecade in the second quarter worth $50,000. 66.74% of the stock is 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.