NextDecade Corporation (NASDAQ:NEXT) Receives Average Recommendation of "Hold" from Analysts

Key Points

• NextDecade has a consensus “Hold” rating from seven analysts: four holds, one sell, one buy and one strong buy. The average 12-month price target is $8.10, versus a recent share price of $7.35.
• Institutional investors own approximately 66.74% of the company, with several hedge funds and financial institutions recently increasing or initiating positions.
• NextDecade reported a quarterly loss of $0.25 per share, beating the expected loss of $0.66, though analysts forecast a full-year loss of approximately $2.94 per share.

Shares of NextDecade Corporation (NASDAQ:NEXT - Get Free Report) have been assigned a consensus rating of "Hold" from the seven research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $8.10.

NEXT has been the subject of several recent research reports. The Goldman Sachs Group assumed coverage on NextDecade in a research note on Wednesday, July 15th. They issued a "neutral" rating and a $8.50 price target for the company. Citigroup began coverage on NextDecade in a report on Wednesday, May 13th. They issued a "buy" rating and a $11.00 target price on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of NextDecade in a research report on Friday, July 24th.

Hedge Funds Weigh In On NextDecade

A number of hedge funds have recently bought and sold shares of the company. Nykredit A S bought a new stake in NextDecade during the second quarter valued at $25,000. US Bancorp DE lifted its stake in shares of NextDecade by 22,782.4% in the 3rd quarter. US Bancorp DE now owns 3,890 shares of the company's stock valued at $26,000 after purchasing an additional 3,873 shares during the period. Raymond James Financial Inc. bought a new stake in shares of NextDecade during the 2nd quarter valued at about $36,000. Comerica Bank boosted its position in shares of NextDecade by 88.0% during the 1st quarter. Comerica Bank now owns 4,060 shares of the company's stock valued at $32,000 after purchasing an additional 1,900 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in NextDecade by 302.8% during the first 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 during the period. Institutional investors own 66.74% of the company's stock.

NextDecade Price Performance

Shares of NASDAQ:NEXT opened at $7.35 on Monday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.37 and a current ratio of 0.37. NextDecade has a 52 week low of $4.75 and a 52 week high of $11.27. The firm has a market cap of $1.96 billion, a PE ratio of -5.40 and a beta of 1.55. The firm's fifty day moving average is $7.26 and its 200-day moving average is $7.23.

NextDecade (NASDAQ:NEXT - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.25) earnings per share for the quarter, beating analysts' consensus estimates of ($0.66) by $0.41. Sell-side analysts predict that NextDecade will post -2.94 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source