NextDecade (NASDAQ:NEXT) Sets New 12-Month High on Analyst Upgrade

NextDecade Corporation (NASDAQ:NEXT - Get Free Report)'s share price reached a new 52-week high during trading on Saturday after Morgan Stanley raised their price target on the stock from $10.00 to $15.00. Morgan Stanley currently has an overweight rating on the stock. NextDecade traded as high as $10.79 and last traded at $10.77, with a volume of 9721965 shares trading hands. The stock had previously closed at $9.21.

Other equities analysts also recently issued research reports about the stock. Cowen raised shares of NextDecade from a "hold" rating to a "buy" rating in a research note on Tuesday, June 24th. TD Cowen raised NextDecade from a "hold" rating to a "buy" rating and set a $11.00 price objective on the stock in a research note on Tuesday, June 24th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its position in NextDecade by 137.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,261 shares of the company's stock valued at $25,000 after purchasing an additional 1,886 shares during the period. Comerica Bank lifted its stake in shares of NextDecade by 88.0% in the first quarter. Comerica Bank now owns 4,060 shares of the company's stock valued at $32,000 after buying an additional 1,900 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of NextDecade by 350.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,479 shares of the company's stock valued at $35,000 after buying an additional 3,485 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of NextDecade by 21,395.5% during the second quarter. Farther Finance Advisors LLC now owns 4,729 shares of the company's stock worth $42,000 after acquiring an additional 4,707 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of NextDecade by 2,302.6% in the 1st quarter. GAMMA Investing LLC now owns 6,535 shares of the company's stock worth $51,000 after acquiring an additional 6,263 shares during the last quarter. 66.74% of the stock is owned by institutional investors.

NextDecade Stock Performance

The firm has a market cap of $2.81 billion, a P/E ratio of -15.84 and a beta of 1.08. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.64. The company's 50-day moving average is $8.26 and its two-hundred day moving average is $7.95.

About NextDecade

NextDecade Corp. is a development company.

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