1,047,217 Shares in NextDecade Corporation $NEXT Bought by Nuveen LLC

Key Points

• Nuveen LLC acquired 1,047,217 shares of NextDecade Corporation valued at approximately $8,147,000, representing about 0.40% of the company's total shares.
• NextDecade's stock currently has a market cap of $2.68 billion and has shown a 12-month price range between $4.27 and $12.12.
• Wall Street analysts have shown confidence in NextDecade, with multiple upgrades, a consensus price target of $13.00, and an average rating of "Buy."

Nuveen LLC acquired a new position in shares of NextDecade Corporation (NASDAQ:NEXT - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,047,217 shares of the company's stock, valued at approximately $8,147,000. Nuveen LLC owned approximately 0.40% of NextDecade as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in NextDecade by 137.2% during the first quarter. PNC Financial Services Group Inc. now owns 3,261 shares of the company's stock worth $25,000 after acquiring an additional 1,886 shares during the period. GAMMA Investing LLC boosted its stake in NextDecade by 2,302.6% during the first quarter. GAMMA Investing LLC now owns 6,535 shares of the company's stock worth $51,000 after buying an additional 6,263 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of NextDecade by 201.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,797 shares of the company's stock valued at $60,000 after purchasing an additional 5,212 shares during the period. Broadway Wealth Solutions Inc. purchased a new position in shares of NextDecade in the first quarter valued at approximately $79,000. Finally, Quantinno Capital Management LP purchased a new position in shares of NextDecade in the fourth quarter valued at approximately $79,000. 66.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NEXT shares. Cowen upgraded shares of NextDecade from a "hold" rating to a "buy" rating in a research note on Tuesday, June 24th. TD Cowen upgraded shares of NextDecade from a "hold" rating to a "buy" rating and set a $11.00 price target for the company in a research note on Tuesday, June 24th. Morgan Stanley restated an "overweight" rating and set a $15.00 price objective (up previously from $10.00) on shares of NextDecade in a research report on Friday, July 11th. Finally, Seaport Res Ptn upgraded shares of NextDecade to a "strong-buy" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. Based on data from MarketBeat, NextDecade currently has a consensus rating of "Buy" and a consensus target price of $13.00.

NextDecade Price Performance

Shares of NextDecade stock traded down $0.08 on Tuesday, hitting $10.35. The company's stock had a trading volume of 2,325,016 shares, compared to its average volume of 2,443,043. The company has a market capitalization of $2.71 billion, a P/E ratio of -13.27 and a beta of 1.22. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 2.77. The firm has a fifty day moving average price of $10.15 and a 200-day moving average price of $8.56. NextDecade Corporation has a 52-week low of $4.27 and a 52-week high of $12.12.

NextDecade (NASDAQ:NEXT - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.23) EPS for the quarter, meeting analysts' consensus estimates of ($0.23). On average, equities research analysts expect that NextDecade Corporation will post -0.61 earnings per share for the current fiscal year.

NextDecade Profile

NextDecade Corp. is a development company.