NextDecade Corporation (NASDAQ:NEXT) Receives Average Rating of “Hold” from Analysts

Shares of NextDecade Corporation (NASDAQ:NEXT) have received a consensus rating of “Hold” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $8.10.

NEXT has been the subject of a number of analyst reports. Citigroup began coverage on shares of NextDecade in a research report on Wednesday, May 13th. They issued a “buy” rating and a $11.00 price objective for the company. Morgan Stanley raised their target price on shares of NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 21st. Weiss Ratings raised shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, April 27th. Finally, The Goldman Sachs Group initiated coverage on NextDecade in a report on Wednesday. They issued a “neutral” rating and a $8.50 price target for the company.

NextDecade Stock Up 1.2%

Shares of NASDAQ:NEXT opened at $7.68 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.96. NextDecade has a 52-week low of $4.75 and a 52-week high of $12.12. The stock’s fifty day simple moving average is $8.05 and its 200-day simple moving average is $6.84. The company has a market capitalization of $2.04 billion, a P/E ratio of -5.73 and a beta of 1.51.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings data 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, equities research analysts forecast that NextDecade will post -2.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextDecade

Institutional investors have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL raised its holdings in shares of NextDecade by 262.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 912,589 shares of the company’s stock worth $6,196,000 after purchasing an additional 661,028 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of NextDecade by 168.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 394,476 shares of the company’s stock worth $2,678,000 after purchasing an additional 247,618 shares during the period. Catalyst Capital Advisors LLC increased its position in 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 purchasing an additional 574,080 shares in the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in NextDecade by 21.2% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 642,182 shares of the company’s stock valued at $3,384,000 after buying an additional 112,300 shares during the period. Finally, Wolf Hill Capital Management LP raised its holdings in NextDecade by 25.9% in the fourth quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company’s stock valued at $19,493,000 after buying an additional 761,299 shares during the period. 66.74% of the stock is currently owned by institutional investors and hedge funds.

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.