BlackRock Inc. acquired a new position in shares of NextDecade Corporation (NASDAQ:NEXT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,820,718 shares of the company's stock, valued at approximately $179,608,000. BlackRock Inc. owned 8.95% of NextDecade as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Deutsche Bank AG acquired a new stake in NextDecade during the second quarter worth approximately $1,307,000. Simplicity Wealth LLC acquired a new position in NextDecade in the second quarter valued at approximately $94,000. Bank of New York Mellon Corp bought a new position in shares of NextDecade during the 2nd quarter worth approximately $3,613,000. Collective Family Office LLC boosted its holdings in shares of NextDecade by 13.4% during the 2nd quarter. Collective Family Office LLC now owns 17,194 shares of the company's stock worth $130,000 after buying an additional 2,033 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of NextDecade by 56.7% during the 1st quarter. Pacer Advisors Inc. now owns 416,955 shares of the company's stock worth $3,194,000 after buying an additional 150,844 shares during the period. Institutional investors own 66.74% of the company's stock.
Analyst Ratings Changes
Several research firms have weighed in on NEXT. Citigroup initiated coverage on shares of NextDecade in a research note on Wednesday, May 13th. They issued a "buy" rating and a $11.00 price target for the company. Weiss Ratings restated a "sell (d-)" rating on shares of NextDecade in a research note on Friday, July 24th. Finally, The Goldman Sachs Group began coverage on NextDecade in a research report on Wednesday, July 15th. They issued a "neutral" rating and a $8.50 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, NextDecade currently has a consensus rating of "Hold" and a consensus target price of $8.10.
Read Our Latest Research Report on NextDecade
NextDecade Stock Performance
Shares of NEXT stock opened at $7.44 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 3.70. The firm has a fifty day simple moving average of $7.26 and a two-hundred day simple moving average of $7.22. NextDecade Corporation has a 12 month low of $4.75 and a 12 month high of $11.27. The firm has a market capitalization of $1.98 billion, a PE ratio of -5.47 and a beta of 1.55.
NextDecade (NASDAQ:NEXT - Get Free Report) last posted its earnings results 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. Analysts forecast that NextDecade Corporation will post -2.94 EPS for the current fiscal year.
About NextDecade
(
Free Report)
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.
Featured Stories
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.
Before you consider NextDecade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NextDecade wasn't on the list.
While NextDecade currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
