NextDecade Corporation (NASDAQ:NEXT) Given Consensus Rating of "Buy" by Brokerages

Key Points

• NextDecade Corporation has received an average buy rating from four brokerage firms, with a consensus price target of $13.00.
• Recent upgrades include Morgan Stanley raising its target price from $10.00 to $15.00 and a strong buy rating from Seaport Res Ptn.
• Institutional investors own 66.74% of NextDecade's stock, signaling strong interest and confidence in the company.

NextDecade Corporation (NASDAQ:NEXT - Get Free Report) has received an average recommendation of "Buy" from the four ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $13.00.

Several equities analysts have commented on NEXT shares. Morgan Stanley reissued an "overweight" rating and set a $15.00 target price (up from $10.00) on shares of NextDecade in a research report on Friday, July 11th. Cowen raised NextDecade from a "hold" rating to a "buy" rating in a report on Tuesday, June 24th. TD Cowen raised NextDecade from a "hold" rating to a "buy" rating and set a $11.00 price objective on the stock in a research note on Tuesday, June 24th. Finally, Seaport Res Ptn upgraded NextDecade to a "strong-buy" rating in a report on Friday.

NextDecade Stock Down 1.6%

NEXT opened at $11.32 on Friday. The company has a market capitalization of $2.95 billion, a PE ratio of -16.65 and a beta of 1.08. The company has a debt-to-equity ratio of 2.64, a current ratio of 0.85 and a quick ratio of 0.85. NextDecade has a fifty-two week low of $4.27 and a fifty-two week high of $12.12. The business has a 50-day moving average of $9.01 and a 200-day moving average of $8.22.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Wolf Hill Capital Management LP boosted its holdings in NextDecade by 330.1% during the fourth quarter. Wolf Hill Capital Management LP now owns 8,142,024 shares of the company's stock valued at $62,775,000 after acquiring an additional 6,248,757 shares during the period. Nuveen LLC bought a new stake in NextDecade during the 1st quarter valued at approximately $8,147,000. Brightline Capital Management LLC bought a new stake in NextDecade during the 1st quarter valued at approximately $7,780,000. Millennium Management LLC grew its holdings in NextDecade by 262.2% in the 4th quarter. Millennium Management LLC now owns 1,276,202 shares of the company's stock valued at $9,840,000 after buying an additional 923,898 shares during the last quarter. Finally, Riposte Capital LLC bought a new position in NextDecade in the 1st quarter worth approximately $6,613,000. Institutional investors own 66.74% of the company's stock.

About NextDecade

NextDecade Corp. is a development company.

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