Analysts Set NextDecade Corporation (NASDAQ:NEXT) Target Price at $10.50

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 received a consensus rating of "Hold" from the five analysts that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $9.00.

A number of brokerages recently issued reports on NEXT. Cowen cut shares of NextDecade from a "buy" rating to a "hold" rating in a research note on Monday. Seaport Res Ptn raised NextDecade to a "strong-buy" rating in a report on Friday, July 25th. TD Cowen restated a "hold" rating and set a $8.00 price target (down previously from $11.00) on shares of NextDecade in a report on Monday. Zacks Research raised shares of NextDecade from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $10.00 price target (down from $15.00) on shares of NextDecade in a report on Friday, September 12th.

NextDecade Stock Up 2.6%

NASDAQ:NEXT traded up $0.17 during trading hours on Friday, hitting $6.62. 3,150,231 shares of the company traded hands, compared to its average volume of 2,487,015. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 2.77. The company has a market cap of $1.73 billion, a PE ratio of -8.44 and a beta of 1.35. NextDecade has a one year low of $4.59 and a one year high of $12.12. The firm's 50-day simple moving average is $10.23 and its 200-day simple moving average is $8.70.

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

Insider Activity at NextDecade

In other news, Director Edward Andrew Jr. Scoggins bought 15,000 shares of NextDecade stock in a transaction on Thursday, September 18th. The shares were bought at an average cost of $6.46 per share, with a total value of $96,900.00. Following the completion of the purchase, the director directly owned 200,070 shares of the company's stock, valued at approximately $1,292,452.20. This trade represents a 8.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew K. Schatzman purchased 281,500 shares of NextDecade stock in a transaction dated Friday, September 12th. The stock was bought at an average cost of $7.14 per share, for a total transaction of $2,009,910.00. Following the completion of the purchase, the chief executive officer directly owned 5,246,316 shares in the company, valued at approximately $37,458,696.24. This trade represents a 5.67% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 653,521 shares of company stock valued at $4,598,817. 1.80% of the stock is owned by company insiders.

Institutional Trading of NextDecade

Hedge funds and other institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. raised its stake in shares of 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 worth $13,810,000 after buying an additional 1,300,000 shares during the last quarter. Nuveen LLC bought a new stake in shares of NextDecade in the 1st quarter valued at approximately $8,147,000. Brightline Capital Management LLC acquired a new position in shares of NextDecade during the first quarter worth approximately $7,780,000. Millennium Management LLC boosted its holdings in shares of NextDecade by 262.2% in the fourth quarter. Millennium Management LLC now owns 1,276,202 shares of the company's stock worth $9,840,000 after buying an additional 923,898 shares during the period. Finally, Riposte Capital LLC purchased a new position in NextDecade in the first quarter valued at about $6,613,000. Institutional investors and hedge funds own 66.74% of the company's stock.

About NextDecade

NextDecade Corp. is a development company.