Adage Capital Partners GP L.L.C. Buys New Position in NextDecade Corporation $NEXT

Adage Capital Partners GP L.L.C. bought a new position in NextDecade Corporation (NASDAQ:NEXT - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 250,000 shares of the company's stock, valued at approximately $1,945,000. Adage Capital Partners GP L.L.C. owned 0.10% of NextDecade at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Scoggin Management LP purchased a new stake in shares of NextDecade in the 1st quarter worth about $3,890,000. MAI Capital Management lifted its position in NextDecade by 1,047.6% during the 1st quarter. MAI Capital Management now owns 7,230 shares of the company's stock valued at $56,000 after acquiring an additional 6,600 shares during the period. Comerica Bank lifted its position in 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 acquiring an additional 1,900 shares during the period. MetLife Investment Management LLC lifted its position in NextDecade by 2.4% during the 1st quarter. MetLife Investment Management LLC now owns 68,611 shares of the company's stock valued at $534,000 after acquiring an additional 1,602 shares during the period. Finally, Jump Financial LLC purchased a new position in NextDecade during the 1st quarter valued at about $166,000. 66.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. TD Cowen raised shares of NextDecade from a "hold" rating to a "buy" rating and set a $11.00 price target for the company in a research report on Tuesday, June 24th. Zacks Research upgraded shares of NextDecade from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. Morgan Stanley restated an "equal weight" rating and set a $10.00 price objective (down from $15.00) on shares of NextDecade in a research note on Friday. Seaport Res Ptn upgraded shares of NextDecade to a "strong-buy" rating in a research note on Friday, July 25th. Finally, Cowen upgraded shares of NextDecade from a "hold" rating to a "buy" rating in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $10.50.

NextDecade Stock Performance

Shares of NEXT stock traded down $0.82 during trading hours on Friday, reaching $6.84. The company had a trading volume of 10,187,568 shares, compared to its average volume of 3,486,239. The business has a fifty day moving average price of $10.43 and a 200-day moving average price of $8.73. NextDecade Corporation has a one year low of $4.59 and a one year high of $12.12. The firm has a market cap of $1.79 billion, a PE ratio of -8.77 and a beta of 1.35. The company has a debt-to-equity ratio of 2.77, a quick ratio of 0.70 and a current ratio of 0.70.

NextDecade (NASDAQ:NEXT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported ($0.23) EPS for the quarter, hitting analysts' consensus estimates of ($0.23). Sell-side analysts predict that NextDecade Corporation will post -0.61 earnings per share for the current fiscal year.

NextDecade Company Profile

NextDecade Corp. is a development company.