NextDecade Corporation (NASDAQ:NEXT) Receives Consensus Recommendation of "Hold" from Analysts

NextDecade Corporation (NASDAQ:NEXT - Get Free Report) has received an average recommendation of "Hold" from the six ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $9.00.

Several equities research analysts have issued reports on the stock. Cowen cut shares of NextDecade from a "buy" rating to a "hold" rating in a research note on Monday, September 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NextDecade in a research note on Wednesday. Seaport Res Ptn raised shares of NextDecade to a "strong-buy" rating in a research note on Friday, July 25th. Zacks Research raised shares of NextDecade from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $10.00 price target (down from $15.00) on shares of NextDecade in a research note on Friday, September 12th.

NextDecade Price Performance

Shares of NASDAQ NEXT opened at $6.66 on Thursday. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -8.54 and a beta of 1.78. NextDecade has a 52 week low of $5.01 and a 52 week high of $12.12. The company's 50-day moving average price is $8.98 and its 200 day moving average price is $8.62. The company has a current ratio of 0.70, a quick 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) EPS for the quarter, meeting analysts' consensus estimates of ($0.23). As a group, research analysts forecast that NextDecade will post -0.61 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Bardin Hill Investment Partner acquired 357,021 shares of the business's stock in a transaction dated Tuesday, September 16th. The shares were acquired at an average cost of $6.98 per share, for a total transaction of $2,492,006.58. Following the acquisition, the director directly owned 9,274,894 shares in the company, valued at approximately $64,738,760.12. The trade was a 4.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Aerospace Co. Ltd. Hanwha acquired 449,510 shares of the business's stock in a transaction dated Wednesday, September 24th. The shares were bought at an average price of $7.02 per share, for a total transaction of $3,155,560.20. Following the completion of the acquisition, the insider owned 18,537,697 shares in the company, valued at approximately $130,134,632.94. This trade represents a 2.49% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 1,654,850 shares of company stock valued at $11,611,592 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its holdings in shares of NextDecade by 137.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,261 shares of the company's stock worth $25,000 after acquiring an additional 1,886 shares during the period. Comerica Bank lifted its holdings in shares of NextDecade by 88.0% during the 1st quarter. Comerica Bank now owns 4,060 shares of the company's stock worth $32,000 after acquiring an additional 1,900 shares during the period. AlphaQuest LLC lifted its holdings in shares of NextDecade by 102.2% during the 2nd quarter. AlphaQuest LLC now owns 3,961 shares of the company's stock worth $35,000 after acquiring an additional 2,002 shares during the period. Raymond James Financial Inc. purchased a new position in shares of NextDecade during the 2nd quarter worth about $36,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of NextDecade by 21,395.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,729 shares of the company's stock worth $42,000 after acquiring an additional 4,707 shares during the period. 66.74% of the stock is currently owned by hedge funds and other institutional investors.

NextDecade Company Profile

NextDecade Corp. is a development company.

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