NextDecade Corporation $NEXT Shares Newly Bought by Bank of America Corp DE

Key Points

• Bank of America bought 1.91 million NextDecade shares worth approximately $14.4 million, gaining a 0.72% stake. Institutional investors collectively own 66.74% of the company, with BlackRock also establishing a significant new position.
• Analyst sentiment remains mixed but centers on a “Hold” consensus, with an average price target of $8.10. Ratings range from Strong Buy to Sell.
• NextDecade shares opened at $6.56, below their 50-day and 200-day moving averages, while the company reported a quarterly loss of $0.25 per share—better than the expected $0.66 loss.

Bank of America Corp DE bought a new position in shares of NextDecade Corporation (NASDAQ:NEXT - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,911,869 shares of the company's stock, valued at approximately $14,415,000. Bank of America Corp DE owned approximately 0.72% of NextDecade at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of NextDecade during the 2nd quarter valued at about $179,608,000. Man Investment Partners US LP purchased a new position in shares of NextDecade in the 4th quarter worth $48,879,000. Wolf Hill Capital Management LP increased its holdings in shares of NextDecade by 25.9% in the 4th quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company's stock worth $19,493,000 after buying an additional 761,299 shares during the last quarter. Catalyst Capital Advisors LLC raised its position in shares of NextDecade by 12.4% during the 1st quarter. Catalyst Capital Advisors LLC now owns 5,216,592 shares of the company's stock valued at $39,959,000 after buying an additional 574,080 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of NextDecade in the 2nd quarter valued at about $3,613,000. 66.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of NextDecade in a research report on Friday, July 24th. The Goldman Sachs Group initiated coverage on shares of NextDecade in a research report on Wednesday, July 15th. They issued a "neutral" rating and a $8.50 price objective on the stock. Finally, Wall Street Zen raised shares of NextDecade from a "strong sell" rating to a "sell" rating in a research note on Saturday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $8.10.

NextDecade Trading Down 1.5%

NASDAQ NEXT opened at $6.56 on Friday. NextDecade Corporation has a 1 year low of $4.75 and a 1 year high of $9.24. The company has a market capitalization of $1.75 billion, a PE ratio of -4.82 and a beta of 1.57. The company has a fifty day moving average of $7.07 and a 200 day moving average of $7.47. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.37 and a quick ratio of 0.37.

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, topping the consensus estimate of ($0.66) by $0.41. Research analysts forecast that NextDecade Corporation will post -2.1 earnings per share for the current year.

NextDecade Company Profile

NextDecade Corporation is an energy infrastructure company focused on developing liquefied natural gas (LNG) facilities and related projects. The company is headquartered in Houston, Texas, and its activities center on the development, construction and operation of LNG export infrastructure designed to serve international natural gas markets.

NextDecade's primary project is Rio Grande LNG, an export terminal under development at the Port of Brownsville in southern Texas. The project is planned to include multiple LNG production trains, storage facilities, marine loading infrastructure and related pipeline connections.

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