NextDecade (NASDAQ:NEXT) Rating Increased to Strong-Buy at Seaport Res Ptn

Key Points

• NextDecade has been upgraded to a "strong-buy" by Seaport Res Ptn, indicating strong positive sentiment towards the company's stock.
• Several brokerages, including TD Cowen and Morgan Stanley, have also increased their ratings and price targets for NextDecade, reflecting heightened investor interest.
• Institutional investors hold 66.74% of NextDecade's shares, with significant stake increases reported from firms like PNC Financial Services and Farther Finance Advisors.

NextDecade (NASDAQ:NEXT - Get Free Report) was upgraded by stock analysts at Seaport Res Ptn to a "strong-buy" rating in a report released on Friday,Zacks.com reports.

NEXT has been the subject of several other research reports. Cowen raised NextDecade from a "hold" rating to a "buy" rating in a report on Tuesday, June 24th. Morgan Stanley reiterated an "overweight" rating and issued a $15.00 price objective (up previously from $10.00) on shares of NextDecade in a research report on Friday, July 11th. Finally, TD Cowen raised NextDecade from a "hold" rating to a "buy" rating and set a $11.00 target price on the stock in a research note on Tuesday, June 24th.

NextDecade Trading Up 0.0%

NEXT traded up $0.01 during trading on Friday, hitting $11.44. The company's stock had a trading volume of 793,203 shares, compared to its average volume of 2,128,059. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.64. NextDecade has a twelve month low of $4.27 and a twelve month high of $12.12. The stock's fifty day moving average price is $9.08 and its 200-day moving average price is $8.25. The firm has a market capitalization of $2.98 billion, a P/E ratio of -16.82 and a beta of 1.08.

Hedge Funds Weigh In On NextDecade

Several institutional investors have recently added to or reduced their stakes in NEXT. Commonwealth Equity Services LLC increased its holdings in shares of NextDecade by 7.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 45,594 shares of the company's stock valued at $352,000 after acquiring an additional 3,082 shares during the period. Corient Private Wealth LLC purchased a new stake in NextDecade during the 4th quarter valued at about $483,000. American Century Companies Inc. purchased a new stake in NextDecade during the 4th quarter valued at about $319,000. KLP Kapitalforvaltning AS purchased a new stake in NextDecade during the 4th quarter valued at about $221,000. Finally, LPL Financial LLC lifted its holdings in shares of NextDecade by 46.0% in the 4th quarter. LPL Financial LLC now owns 100,281 shares of the company's stock valued at $773,000 after buying an additional 31,580 shares during the period. Hedge funds and other institutional investors own 66.74% of the company's stock.

About NextDecade

NextDecade Corp. is a development company.