NextDecade (NASDAQ:NEXT) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded NextDecade from “sell” to “strong sell,” while the broader analyst consensus remains “hold” with an $8.10 target price.
• NextDecade shares opened at $6.29, with a market capitalization of $1.67 billion; the stock has traded between $4.75 and $9.24 over the past year.
• The company reported a quarterly loss of $0.25 per share, beating estimates for a $0.66 loss, while institutional investors and hedge funds own 66.74% of its shares.

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

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group began coverage on shares of NextDecade in a report on Wednesday, July 15th. They set a "neutral" rating and a $8.50 target price on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of NextDecade in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, NextDecade currently has a consensus rating of "Hold" and a consensus target price of $8.10.

NextDecade Stock Up 6.4%

Shares of NEXT opened at $6.29 on Friday. The stock has a market capitalization of $1.67 billion, a PE ratio of -4.62 and a beta of 1.53. NextDecade has a 1 year low of $4.75 and a 1 year high of $9.24. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.37 and a current ratio of 0.37. The company's 50-day simple moving average is $6.88 and its 200-day simple moving average is $7.40.

NextDecade (NASDAQ:NEXT - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.41. Analysts forecast that NextDecade will post -2.10 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextDecade

A number of institutional investors and hedge funds have recently made changes to their positions in NEXT. BlackRock Inc. acquired a new stake in NextDecade in the second quarter valued at approximately $179,608,000. Bank of America Corp DE acquired a new position in NextDecade during the 2nd quarter worth approximately $14,415,000. Catalyst Capital Advisors LLC grew its holdings 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 acquiring an additional 574,080 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of NextDecade in the 2nd quarter valued at approximately $3,613,000. Finally, Man Group plc purchased a new stake in shares of NextDecade in the 2nd quarter valued at approximately $2,895,000. 66.74% of the stock is owned by institutional investors and hedge funds.

NextDecade Company Profile

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.

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