NextDecade (NASDAQ:NEXT) Rating Increased to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded NextDecade from “strong sell” to “sell,” while the broader analyst consensus remains “hold” with a target price of $8.10.
• NextDecade shares opened at $7.34, with a market capitalization of approximately $1.95 billion; the stock has traded between $4.75 and $10.84 over the past year.
• The company reported a quarterly loss of $0.25 per share, beating the consensus estimate of a $0.66 loss, though analysts expect a full-year loss of approximately $2.94 per share.

NextDecade (NASDAQ:NEXT - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report issued on Saturday, Wall Street Zen reports.

A number of other research firms also recently weighed in on NEXT. Weiss Ratings restated a "sell (d-)" rating on shares of NextDecade in a research report on Friday, July 24th. Citigroup began coverage on NextDecade in a research note on Wednesday, May 13th. They set a "buy" rating and a $11.00 price objective for the company. Finally, The Goldman Sachs Group assumed coverage on NextDecade in a report on Wednesday, July 15th. They issued a "neutral" rating and a $8.50 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, NextDecade currently has a consensus rating of "Hold" and a consensus target price of $8.10.

NextDecade Stock Down 1.1%

NASDAQ NEXT opened at $7.34 on Friday. The stock's 50 day simple moving average is $7.26 and its 200 day simple moving average is $7.29. NextDecade has a one year low of $4.75 and a one year high of $10.84. The firm has a market cap of $1.95 billion, a PE ratio of -5.40 and a beta of 1.57. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.37 and a quick ratio of 0.37.

NextDecade (NASDAQ:NEXT - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.41. As a group, sell-side analysts forecast that NextDecade will post -2.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextDecade

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nykredit A S acquired a new position in shares of NextDecade in the 2nd quarter valued at $25,000. US Bancorp DE raised its stake in NextDecade by 22,782.4% during the 3rd quarter. US Bancorp DE now owns 3,890 shares of the company's stock worth $26,000 after buying an additional 3,873 shares during the period. EverSource Wealth Advisors LLC raised its stake in NextDecade by 302.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company's stock worth $32,000 after buying an additional 3,161 shares during the period. Comerica Bank lifted its holdings in NextDecade by 88.0% during the first quarter. Comerica Bank now owns 4,060 shares of the company's stock worth $32,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in NextDecade during the second quarter worth about $36,000. 66.74% of the stock is owned by institutional investors.

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.

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