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

Key Points

• NextDecade has a consensus analyst rating of "Hold", based on coverage from six analysts. The average 12-month price target is $8.00.
• Recent analyst activity has been mixed: Morgan Stanley raised its target to $8.00 with an “equal weight” rating, while Citigroup initiated coverage with a buy rating and a $11.00 target.
• The stock slipped 0.6% to $7.99, and the company reported a narrower-than-expected quarterly loss of ($0.51) per share, beating estimates by $0.15.

Shares of NextDecade Corporation (NASDAQ:NEXT - Get Free Report) have been given a consensus rating of "Hold" by the six analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $8.00.

A number of research analysts have recently commented on NEXT shares. Morgan Stanley boosted their price target on shares of NextDecade from $7.00 to $8.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 21st. Citigroup began coverage on NextDecade in a research note on Wednesday, May 13th. They set a "buy" rating and a $11.00 price objective for the company. Finally, Weiss Ratings upgraded NextDecade from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, April 27th.

NextDecade Stock Down 0.6%

Shares of NEXT stock traded down $0.05 during trading hours on Friday, reaching $7.99. The company had a trading volume of 1,488,083 shares, compared to its average volume of 2,917,950. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -5.96 and a beta of 1.51. The company has a debt-to-equity ratio of 3.96, a current ratio of 0.40 and a quick ratio of 0.40. NextDecade has a 12 month low of $4.75 and a 12 month high of $12.12. The business has a fifty day simple moving average of $8.03 and a 200-day simple moving average of $6.76.

NextDecade (NASDAQ:NEXT - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.15. On average, research analysts expect that NextDecade will post -2.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NextDecade

Several hedge funds have recently bought and sold shares of NEXT. Alliancebernstein L.P. increased its holdings in NextDecade by 1.5% during the 3rd quarter. Alliancebernstein L.P. now owns 122,020 shares of the company's stock worth $829,000 after purchasing an additional 1,800 shares during the period. Comerica Bank boosted its stake in shares of NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company's stock valued at $32,000 after buying an additional 1,900 shares during the period. Collective Family Office LLC grew its position in shares of NextDecade by 13.4% during the second quarter. Collective Family Office LLC now owns 17,194 shares of the company's stock worth $130,000 after buying an additional 2,033 shares in the last quarter. Inscription Capital LLC increased its stake in shares of NextDecade by 16.0% during the fourth quarter. Inscription Capital LLC now owns 15,739 shares of the company's stock worth $83,000 after buying an additional 2,172 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in shares of NextDecade by 0.3% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 644,417 shares of the company's stock worth $4,936,000 after buying an additional 2,235 shares during the period. 66.74% of the stock is currently owned by institutional investors.

About NextDecade

NextDecade Corporation is a Houston‐based liquefied natural gas (LNG) and decarbonization company focused on the development, engineering, construction and operation of large‐scale LNG export facilities. The company's core mission is to deliver cleaner energy solutions to global customers while integrating carbon capture and sequestration technologies to reduce greenhouse gas emissions. NextDecade's projects are designed to leverage abundant U.S. natural gas supplies to meet growing worldwide demand for low‐carbon fuel.

NextDecade's flagship project, Rio Grande LNG, is located at the Port of Brownsville in southern Texas.

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