NextDecade (NASDAQ:NEXT) Given "Equal Weight" Rating at Morgan Stanley

Key Points

• NextDecade's stock has been given an "equal weight" rating by Morgan Stanley, with a revised target price of $10.00, indicating a potential upside of 30.55% from its current trading price.
• Multiple research firms have recently upgraded their ratings on NextDecade, with Zacks Research moving from "strong sell" to "hold," and Cowen upgrading from "hold" to "buy."
• The company reported earnings per share of ($0.23), matching analysts' estimates, and has an average target price from analysts of $10.50, reflecting a "Moderate Buy" outlook.

NextDecade (NASDAQ:NEXT - Get Free Report)'s stock had its "equal weight" rating reaffirmed by investment analysts at Morgan Stanley in a research note issued to investors on Friday, MarketBeat.com reports. They currently have a $10.00 target price on the stock, down from their prior target price of $15.00. Morgan Stanley's price objective would indicate a potential upside of 30.55% from the company's current price.

A number of other research firms have also recently issued reports on NEXT. Zacks Research upgraded NextDecade from a "strong sell" rating to a "hold" rating in a report on Monday. Cowen upgraded NextDecade from a "hold" rating to a "buy" rating in a report on Tuesday, June 24th. TD Cowen upgraded NextDecade from a "hold" rating to a "buy" rating and set a $11.00 price target on the stock in a report on Tuesday, June 24th. Finally, Seaport Res Ptn upgraded NextDecade to a "strong-buy" rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $10.50.

NextDecade Price Performance

NextDecade stock opened at $7.66 on Friday. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -9.82 and a beta of 1.35. NextDecade has a 52-week low of $4.58 and a 52-week high of $12.12. The stock's 50 day moving average price is $10.47 and its two-hundred day moving average price is $8.72. The company has a debt-to-equity ratio of 2.77, a quick ratio of 0.70 and a current ratio of 0.70.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its holdings in NextDecade by 137.2% during the first quarter. PNC Financial Services Group Inc. now owns 3,261 shares of the company's stock worth $25,000 after buying an additional 1,886 shares during the last quarter. AlphaQuest LLC lifted its stake in NextDecade by 102.2% during the 2nd quarter. AlphaQuest LLC now owns 3,961 shares of the company's stock valued at $35,000 after acquiring an additional 2,002 shares in the last quarter. Raymond James Financial Inc. bought a new position in NextDecade during the 2nd quarter valued at $36,000. Comerica Bank lifted its stake in NextDecade by 88.0% during the 1st quarter. Comerica Bank now owns 4,060 shares of the company's stock valued at $32,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in NextDecade by 21,395.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,729 shares of the company's stock valued at $42,000 after acquiring an additional 4,707 shares in the last quarter. Institutional investors and hedge funds own 66.74% of the company's stock.

NextDecade Company Profile

NextDecade Corp. is a development company.

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