NextDecade Corporation (NASDAQ:NEXT) Receives $13.00 Average PT from Analysts

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 a consensus recommendation of "Buy" from the four brokerages that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $13.00.

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

Institutional Investors Weigh In On NextDecade

Institutional investors have recently modified their holdings of the company. Bardin Hill Management Partners LP increased its stake in NextDecade by 3.9% in the fourth quarter. Bardin Hill Management Partners LP now owns 8,917,873 shares of the company's stock valued at $68,757,000 after purchasing an additional 334,012 shares during the period. Wolf Hill Capital Management LP increased its stake in NextDecade by 330.1% in 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 purchasing an additional 6,248,757 shares during the period. Catalyst Capital Advisors LLC increased its stake in shares of NextDecade by 22.6% during the first quarter. Catalyst Capital Advisors LLC now owns 4,597,423 shares of the company's stock worth $35,768,000 after acquiring an additional 846,937 shares during the period. Geode Capital Management LLC increased its stake in shares of NextDecade by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,075,331 shares of the company's stock worth $23,717,000 after acquiring an additional 48,401 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of NextDecade by 17.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,248,028 shares of the company's stock worth $17,490,000 after acquiring an additional 338,429 shares during the period. 66.74% of the stock is owned by hedge funds and other institutional investors.

NextDecade Price Performance

NextDecade stock traded up $0.09 during mid-day trading on Friday, hitting $11.52. 1,012,936 shares of the company were exchanged, compared to its average volume of 2,129,396. NextDecade has a 1-year low of $4.27 and a 1-year high of $12.12. The company has a market capitalization of $3.00 billion, a PE ratio of -16.96 and a beta of 1.08. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.64. The business has a fifty day moving average of $9.08 and a 200 day moving average of $8.25.

About NextDecade

NextDecade Corp. is a development company.