NextDecade (NASDAQ:NEXT) Earns Hold Rating from TD Cowen

Key Points

• TD Cowen has reiterated a "hold" rating for NextDecade (NASDAQ:NEXT) with a target price of $8.00, suggesting a potential upside of 16.96% from the recent closing price.
• NextDecade's stock has recently seen a decline of 10.7%, opening at $6.84 following a 52-week low of $4.59 and high of $12.12.
• Institutional investors own 66.74% of NextDecade's stock, indicating significant confidence from major financial players in the company's potential.

TD Cowen reissued their hold rating on shares of NextDecade (NASDAQ:NEXT - Free Report) in a research report released on Monday morning, Marketbeat reports. They currently have a $8.00 price target on the stock, down from their prior price target of $11.00.

NEXT has been the topic of several other research reports. Seaport Res Ptn raised NextDecade to a "strong-buy" rating in a report on Friday, July 25th. Morgan Stanley reaffirmed an "equal weight" rating and set a $10.00 price objective (down previously from $15.00) on shares of NextDecade in a report on Friday, September 12th. Cowen raised NextDecade from a "hold" rating to a "buy" rating in a report on Tuesday, June 24th. Finally, Zacks Research raised NextDecade from a "strong sell" rating to a "hold" rating in a report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, NextDecade presently has a consensus rating of "Hold" and a consensus target price of $9.00.

NextDecade Price Performance

NASDAQ NEXT traded up $0.14 during trading on Monday, reaching $6.59. 4,250,878 shares of the company traded hands, compared to its average volume of 2,493,579. The company has a debt-to-equity ratio of 2.77, a quick ratio of 0.70 and a current ratio of 0.70. The stock's 50 day moving average price is $10.23 and its two-hundred day moving average price is $8.70. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -8.44 and a beta of 1.35. NextDecade has a 1-year low of $4.59 and a 1-year high of $12.12.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. MetLife Investment Management LLC lifted its position in NextDecade by 2.4% during the first quarter. MetLife Investment Management LLC now owns 68,611 shares of the company's stock valued at $534,000 after purchasing an additional 1,602 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of NextDecade by 10.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,536 shares of the company's stock worth $160,000 after purchasing an additional 1,675 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in NextDecade by 137.2% during the first quarter. PNC Financial Services Group Inc. now owns 3,261 shares of the company's stock valued at $25,000 after acquiring an additional 1,886 shares in the last quarter. Comerica Bank lifted its position in NextDecade by 88.0% during the first quarter. Comerica Bank now owns 4,060 shares of the company's stock valued at $32,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in NextDecade by 27.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 9,061 shares of the company's stock valued at $81,000 after purchasing an additional 1,956 shares during the last quarter. 66.74% of the stock is currently owned by hedge funds and other institutional investors.

About NextDecade

NextDecade Corp. is a development company.