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.

NextDecade (NASDAQ:NEXT - Get Free Report)'s stock had its "hold" rating reiterated by stock analysts at TD Cowen in a research note issued to investors on Monday, MarketBeat.com reports. They currently have a $8.00 target price on the stock. TD Cowen's target price would suggest a potential upside of 16.96% from the company's previous close.

NEXT has been the topic of a number of other reports. Seaport Res Ptn raised NextDecade to a "strong-buy" rating in a research note on Friday, July 25th. Zacks Research raised NextDecade from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. Morgan Stanley reissued an "equal weight" rating and issued a $10.00 price objective (down from $15.00) on shares of NextDecade in a research note on Friday. Finally, Cowen raised NextDecade from a "hold" rating to a "buy" rating in a research note on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $9.00.

NextDecade Stock Down 10.7%

NEXT stock opened at $6.84 on Monday. The stock's 50 day simple moving average is $10.43 and its 200 day simple moving average is $8.74. NextDecade has a fifty-two week low of $4.59 and a fifty-two week high of $12.12. 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 company has a market cap of $1.79 billion, a P/E ratio of -8.77 and a beta of 1.35.

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, hitting analysts' consensus estimates of ($0.23). On average, research analysts expect that NextDecade will post -0.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextDecade

Several institutional investors and hedge funds have recently bought and sold shares of the company. Westwood Holdings Group Inc. grew its holdings in NextDecade by 6.5% during the second quarter. Westwood Holdings Group Inc. now owns 1,255,874 shares of the company's stock valued at $11,190,000 after purchasing an additional 76,238 shares during the period. Castleark Management LLC grew its holdings in NextDecade by 98.8% during the second quarter. Castleark Management LLC now owns 106,250 shares of the company's stock valued at $947,000 after purchasing an additional 52,810 shares during the period. Tower Research Capital LLC TRC grew its holdings in NextDecade by 89.1% during the second quarter. Tower Research Capital LLC TRC now owns 14,910 shares of the company's stock valued at $133,000 after purchasing an additional 7,024 shares during the period. Captrust Financial Advisors grew its holdings in NextDecade by 6.2% during the second quarter. Captrust Financial Advisors now owns 55,444 shares of the company's stock valued at $494,000 after purchasing an additional 3,219 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in NextDecade by 249.2% during the second quarter. BNP Paribas Financial Markets now owns 30,842 shares of the company's stock valued at $275,000 after purchasing an additional 22,009 shares during the period. 66.74% of the stock is owned by institutional investors.

NextDecade Company Profile

NextDecade Corp. is a development company.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.