NextDecade's (NEXT) Overweight Rating Reaffirmed at Morgan Stanley

NextDecade (NASDAQ:NEXT - Get Free Report)'s stock had its "overweight" rating reissued by stock analysts at Morgan Stanley in a note issued to investors on Friday, MarketBeat reports. They presently have a $15.00 price objective on the stock, up from their previous price objective of $10.00. Morgan Stanley's price objective indicates a potential upside of 33.69% from the company's current price.

Several other analysts also recently weighed in on NEXT. Cowen raised NextDecade from a "hold" rating to a "buy" rating in a research note on Tuesday, June 24th. TD Cowen raised NextDecade from a "hold" rating to a "buy" rating and set a $11.00 price target on the stock in a report on Tuesday, June 24th.

NextDecade Stock Performance

Shares of NEXT traded up $0.45 during mid-day trading on Friday, reaching $11.22. 7,069,582 shares of the company's stock traded hands, compared to its average volume of 1,987,730. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.85 and a current ratio of 0.85. The business's 50-day moving average price is $8.26 and its 200-day moving average price is $7.97. The stock has a market capitalization of $2.93 billion, a P/E ratio of -16.50 and a beta of 1.08. NextDecade has a 12 month low of $4.27 and a 12 month high of $11.43.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NEXT. Bank of New York Mellon Corp raised its holdings in NextDecade by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 325,367 shares of the company's stock worth $2,509,000 after purchasing an additional 2,833 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in NextDecade by 350.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,479 shares of the company's stock valued at $35,000 after purchasing an additional 3,485 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of NextDecade by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,101,775 shares of the company's stock valued at $8,495,000 after purchasing an additional 36,959 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of NextDecade in the 4th quarter worth $537,000. Finally, Arizona State Retirement System lifted its holdings in shares of NextDecade by 59.1% in the fourth quarter. Arizona State Retirement System now owns 41,360 shares of the company's stock valued at $319,000 after buying an additional 15,360 shares during the period. 66.74% of the stock is currently owned by institutional investors.

About NextDecade

NextDecade Corp. is a development company.