Deutsche Bank AG Makes New $1.31 Million Investment in NextDecade Corporation $NEXT

Key Points

• Deutsche Bank purchased 173,342 NextDecade shares worth approximately $1.31 million in the second quarter, joining other institutional investors; institutions now own 66.74% of the company.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $8.10. Ratings range from Strong Buy to Sell, including Goldman Sachs at Neutral with an $8.50 target and Citigroup at Buy with an $11 target.
• NextDecade shares opened at $7.35, within a 52-week range of $4.75 to $11.27. The company reported a quarterly loss of $0.25 per share, beating the consensus estimate of a $0.66 loss.

Deutsche Bank AG purchased a new position in NextDecade Corporation (NASDAQ:NEXT - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 173,342 shares of the company's stock, valued at approximately $1,307,000. Deutsche Bank AG owned 0.07% of NextDecade at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Alliancebernstein L.P. raised its stake in shares of NextDecade by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 122,020 shares of the company's stock worth $829,000 after buying an additional 1,800 shares in the last quarter. Comerica Bank grew its holdings in NextDecade by 88.0% during the first quarter. Comerica Bank now owns 4,060 shares of the company's stock worth $32,000 after acquiring an additional 1,900 shares during the period. Collective Family Office LLC lifted its holdings in NextDecade by 13.4% in the 2nd quarter. Collective Family Office LLC now owns 17,194 shares of the company's stock valued at $130,000 after acquiring an additional 2,033 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in NextDecade by 0.3% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 644,417 shares of the company's stock valued at $4,936,000 after acquiring an additional 2,235 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of NextDecade by 302.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company's stock valued at $32,000 after purchasing an additional 3,161 shares in the last quarter. 66.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NEXT shares. The Goldman Sachs Group started coverage on shares of NextDecade in a research note on Wednesday, July 15th. They set a "neutral" rating and a $8.50 target price for the company. Weiss Ratings restated a "sell (d-)" rating on shares of NextDecade in a research report on Friday, July 24th. Finally, Citigroup started coverage on NextDecade in a report on Wednesday, May 13th. They issued a "buy" rating and a $11.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $8.10.

NextDecade Stock Performance

NextDecade stock opened at $7.35 on Friday. NextDecade Corporation has a fifty-two week low of $4.75 and a fifty-two week high of $11.27. The firm's 50 day simple moving average is $7.26 and its 200-day simple moving average is $7.22. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market cap of $1.96 billion, a P/E ratio of -5.40 and a beta of 1.55.

NextDecade (NASDAQ:NEXT - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.41. As a group, equities research analysts predict that NextDecade Corporation will post -2.94 EPS for the current year.

NextDecade Profile

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