NextDecade (NASDAQ:NEXT) Raised to Hold at The Goldman Sachs Group

Key Points

• Goldman Sachs upgraded NextDecade to a Hold rating, adding to a mixed analyst picture that now shows an average Hold consensus and an $8.10 target price.
• NextDecade’s stock opened at $7.59, below its 52-week high of $12.12 but above its low of $4.75, while the company remains unprofitable with a negative EPS and projected full-year losses.
• The company is still drawing institutional interest, with hedge funds and other investors owning about 66.74% of shares, and its main LNG project is the Rio Grande LNG facility in Texas.

NextDecade (NASDAQ:NEXT - Get Free Report) was upgraded by analysts at The Goldman Sachs Group to a "hold" rating in a report issued on Wednesday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Citigroup started coverage on shares of NextDecade in a research report on Wednesday, May 13th. They set a "buy" rating and a $11.00 target price on the stock. Morgan Stanley raised their price target on shares of NextDecade from $7.00 to $8.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 21st. Finally, Weiss Ratings upgraded shares of NextDecade from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, NextDecade has an average rating of "Hold" and a consensus target price of $8.10.

NextDecade Price Performance

Shares of NEXT stock opened at $7.59 on Wednesday. NextDecade has a fifty-two week low of $4.75 and a fifty-two week high of $12.12. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -5.66 and a beta of 1.51. The company has a debt-to-equity ratio of 3.96, a quick ratio of 0.40 and a current ratio of 0.40. The stock's 50-day simple moving average is $8.04 and its 200-day simple moving average is $6.83.

NextDecade (NASDAQ:NEXT - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.15. As a group, equities analysts forecast that NextDecade will post -2.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextDecade

A number of institutional investors have recently modified their holdings of NEXT. Collective Family Office LLC boosted its stake in shares of NextDecade by 13.4% in the second quarter. Collective Family Office LLC now owns 17,194 shares of the company's stock worth $130,000 after buying an additional 2,033 shares during the last quarter. Pacer Advisors Inc. grew its holdings in NextDecade by 56.7% during the first quarter. Pacer Advisors Inc. now owns 416,955 shares of the company's stock worth $3,194,000 after acquiring an additional 150,844 shares during the period. EverSource Wealth Advisors LLC raised its position in NextDecade by 302.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company's stock valued at $32,000 after acquiring an additional 3,161 shares in the last quarter. Empowered Funds LLC raised its position in NextDecade by 11.6% during the first quarter. Empowered Funds LLC now owns 356,264 shares of the company's stock valued at $2,729,000 after acquiring an additional 36,917 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in NextDecade by 10.0% in the first quarter. The Manufacturers Life Insurance Company now owns 77,953 shares of the company's stock valued at $597,000 after acquiring an additional 7,087 shares during the period. Hedge funds and other institutional investors own 66.74% of the company's stock.

NextDecade Company Profile

NextDecade Corporation is a Houston‐based liquefied natural gas (LNG) and decarbonization company focused on the development, engineering, construction and operation of large‐scale LNG export facilities. The company's core mission is to deliver cleaner energy solutions to global customers while integrating carbon capture and sequestration technologies to reduce greenhouse gas emissions. NextDecade's projects are designed to leverage abundant U.S. natural gas supplies to meet growing worldwide demand for low‐carbon fuel.

NextDecade's flagship project, Rio Grande LNG, is located at the Port of Brownsville in southern Texas.

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