NextDecade (NASDAQ:NEXT) Sets New 52-Week High - Still a Buy?

NextDecade Corporation (NASDAQ:NEXT - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $11.64 and last traded at $11.54, with a volume of 2887060 shares traded. The stock had previously closed at $11.44.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Morgan Stanley restated an "overweight" rating and set a $15.00 price objective (up from $10.00) on shares of NextDecade in a report on Friday, July 11th. TD Cowen upgraded NextDecade from a "hold" rating to a "buy" rating and set a $11.00 price objective for the company in a research report on Tuesday, June 24th. Finally, Cowen raised NextDecade from a "hold" rating to a "buy" rating in a research note on Tuesday, June 24th.

NextDecade Price Performance

The company's 50 day simple moving average is $8.58 and its 200 day simple moving average is $8.08. The company has a debt-to-equity ratio of 2.64, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $3.01 billion, a P/E ratio of -16.97 and a beta of 1.08.

Institutional Trading of NextDecade

Several institutional investors and hedge funds have recently bought and sold shares of NEXT. PNC Financial Services Group Inc. grew its position 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 in the last quarter. Comerica Bank raised its position in NextDecade by 88.0% during the 1st quarter. Comerica Bank now owns 4,060 shares of the company's stock worth $32,000 after purchasing an additional 1,900 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in NextDecade by 350.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,479 shares of the company's stock worth $35,000 after purchasing an additional 3,485 shares during the last quarter. Farther Finance Advisors LLC raised its position in NextDecade by 21,395.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,729 shares of the company's stock worth $42,000 after purchasing an additional 4,707 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in NextDecade by 2,302.6% during the 1st quarter. GAMMA Investing LLC now owns 6,535 shares of the company's stock worth $51,000 after purchasing an additional 6,263 shares during the last quarter. Institutional investors own 66.74% of the company's stock.

NextDecade Company Profile

NextDecade Corp. is a development company.

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