NextDecade Corporation (NASDAQ:NEXT) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• NextDecade Corporation has received a consensus recommendation of "Moderate Buy" from five brokerages, with an average 12-month price target of $10.50.
• Several analysts have recently upgraded their ratings for NextDecade, including TD Cowen, which moved its rating from "hold" to "buy", with a target price of $11.00.
• NextDecade's stock has decreased 10.7%, currently trading at $6.84, with a market cap of $1.79 billion.

NextDecade Corporation (NASDAQ:NEXT - Get Free Report) has been given an average recommendation of "Moderate Buy" by the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $10.50.

Several equities research analysts have recently issued reports on NEXT shares. TD Cowen upgraded shares of NextDecade from a "hold" rating to a "buy" rating and set a $11.00 price target for the company in a research note on Tuesday, June 24th. Morgan Stanley restated an "equal weight" rating and issued a $10.00 target price (down from $15.00) on shares of NextDecade in a research note on Friday. Zacks Research upgraded NextDecade from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. Seaport Res Ptn upgraded NextDecade to a "strong-buy" rating in a research note on Friday, July 25th. Finally, Cowen upgraded shares of NextDecade from a "hold" rating to a "buy" rating in a research report on Tuesday, June 24th.

Institutional Investors Weigh In On NextDecade

A number of hedge funds and other institutional investors have recently bought and sold shares of NEXT. Catalyst Capital Advisors LLC lifted its position in shares of NextDecade by 2.3% during the second quarter. Catalyst Capital Advisors LLC now owns 4,704,427 shares of the company's stock worth $41,916,000 after acquiring an additional 107,004 shares in the last quarter. Geode Capital Management LLC lifted its holdings in NextDecade by 12.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,541,633 shares of the company's stock worth $31,559,000 after purchasing an additional 386,613 shares in the last quarter. Bank of America Corp DE lifted its holdings in NextDecade by 16.7% during the 2nd quarter. Bank of America Corp DE now owns 3,102,352 shares of the company's stock worth $27,642,000 after purchasing an additional 444,518 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in NextDecade by 17.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,248,028 shares of the company's stock worth $17,490,000 after purchasing an additional 338,429 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its holdings in NextDecade by 520.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company's stock valued at $13,810,000 after buying an additional 1,300,000 shares in the last quarter. Institutional investors own 66.74% of the company's stock.

NextDecade Trading Down 10.7%

Shares of NextDecade stock opened at $6.84 on Friday. The firm has a market cap of $1.79 billion, a PE ratio of -8.77 and a beta of 1.35. NextDecade has a 1 year low of $4.59 and a 1 year high of $12.12. The company has a debt-to-equity ratio of 2.77, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a fifty day moving average price of $10.43 and a 200-day moving average price of $8.73.

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

NextDecade Company Profile

NextDecade Corp. is a development company.

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