Brokerages Set NextDecade Corporation (NASDAQ:NEXT) Target Price at $13.00

Key Points

• NextDecade Corporation has received an average rating of "Buy" from four brokerages, with a price target of $13.00 for the next twelve months.
• Significant upgrades from analysts include TD Cowen raising their rating from "hold" to "buy" with a price objective of $11.00 and Morgan Stanley increasing its target to $15.00.
• Institutional investors own 66.74% of NextDecade's stock, indicating strong interest and investment from hedge funds and other large entities.

NextDecade Corporation (NASDAQ:NEXT - Get Free Report) has been given an average recommendation of "Buy" by the four brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $13.00.

NEXT has been the topic of several research analyst reports. Seaport Res Ptn raised shares of NextDecade to a "strong-buy" rating in a research report on Friday, July 25th. Cowen upgraded shares of NextDecade from a "hold" rating to a "buy" rating in a research note on Tuesday, June 24th. TD Cowen upgraded shares of NextDecade from a "hold" rating to a "buy" rating and set a $11.00 price target on the stock in a research note on Tuesday, June 24th. Finally, Morgan Stanley restated an "overweight" rating and issued a $15.00 price target (up from $10.00) on shares of NextDecade in a research note on Friday, July 11th.

Hedge Funds Weigh In On NextDecade

Several institutional investors and hedge funds have recently modified their holdings of NEXT. LPL Financial LLC grew its stake in shares of NextDecade by 46.0% in the fourth quarter. LPL Financial LLC now owns 100,281 shares of the company's stock valued at $773,000 after acquiring an additional 31,580 shares in the last quarter. Wells Fargo & Company MN lifted its position in NextDecade by 48.0% during the fourth quarter. Wells Fargo & Company MN now owns 56,776 shares of the company's stock worth $438,000 after purchasing an additional 18,414 shares during the period. Invesco Ltd. lifted its position in NextDecade by 502.5% during the fourth quarter. Invesco Ltd. now owns 169,425 shares of the company's stock worth $1,306,000 after purchasing an additional 141,305 shares during the period. Legal & General Group Plc lifted its position in NextDecade by 21.7% during the fourth quarter. Legal & General Group Plc now owns 141,840 shares of the company's stock worth $1,094,000 after purchasing an additional 25,336 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in NextDecade during the fourth quarter worth about $436,000. 66.74% of the stock is currently owned by institutional investors and hedge funds.

NextDecade Stock Performance

Shares of NEXT traded down $0.07 during trading hours on Wednesday, hitting $10.24. The company had a trading volume of 2,502,064 shares, compared to its average volume of 2,490,247. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -13.13 and a beta of 1.22. The business has a fifty day moving average of $10.06 and a 200-day moving average of $8.52. NextDecade has a 12 month low of $4.27 and a 12 month high of $12.12. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 2.77.

NextDecade (NASDAQ:NEXT - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.23) earnings per share for the quarter, meeting the consensus estimate of ($0.23). Equities analysts anticipate that NextDecade will post -0.61 EPS for the current fiscal year.

About NextDecade

NextDecade Corp. is a development company.