NextDecade (NASDAQ:NEXT) Shares Gap Down - Time to Sell?

Key Points

• NextDecade's share price gapped down from $7.66 to $7.42, and it last traded at $7.12, indicating a decline of 4.7%.
• Analysts have mixed ratings on NextDecade; while Cowen and TD Cowen have upgraded it to a "buy" rating with a target price of $11.00, Morgan Stanley has lowered its target from $15.00 to $10.00.
• Institutional investors hold 66.74% of NextDecade's stock, indicating strong backing from large financial entities despite the recent downturn.

NextDecade Corporation (NASDAQ:NEXT - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $7.66, but opened at $7.42. NextDecade shares last traded at $7.12, with a volume of 1,271,640 shares traded.

Wall Street Analyst Weigh In

NEXT has been the subject of a number of recent analyst reports. Cowen raised NextDecade from a "hold" rating to a "buy" rating in a research report on Tuesday, June 24th. Morgan Stanley reaffirmed an "equal weight" rating and set a $10.00 target price (down previously from $15.00) on shares of NextDecade in a research report on Friday. TD Cowen raised NextDecade from a "hold" rating to a "buy" rating and set a $11.00 target price for the company in a research report on Tuesday, June 24th. Seaport Res Ptn raised NextDecade to a "strong-buy" rating in a research report on Friday, July 25th. Finally, Zacks Research raised NextDecade from a "strong sell" rating to a "hold" rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $10.50.

NextDecade Stock Down 4.7%

The firm has a fifty day moving average price of $10.47 and a 200 day moving average price of $8.72. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 2.77. The company has a market cap of $1.91 billion, a P/E ratio of -9.38 and a beta of 1.35.

NextDecade (NASDAQ:NEXT - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported ($0.23) EPS for the quarter, hitting the consensus estimate of ($0.23). Equities research analysts forecast that NextDecade Corporation will post -0.61 earnings per share for the current year.

Hedge Funds Weigh In On NextDecade

Several large investors have recently made changes to their positions in NEXT. PNC Financial Services Group Inc. lifted its stake in shares of NextDecade by 137.2% during the first quarter. PNC Financial Services Group Inc. now owns 3,261 shares of the company's stock valued at $25,000 after acquiring an additional 1,886 shares during the period. Comerica Bank lifted its stake in shares of NextDecade by 88.0% during the first quarter. Comerica Bank now owns 4,060 shares of the company's stock valued at $32,000 after acquiring an additional 1,900 shares during the period. AlphaQuest LLC lifted its stake in shares of NextDecade by 102.2% during the second quarter. AlphaQuest LLC now owns 3,961 shares of the company's stock valued at $35,000 after acquiring an additional 2,002 shares during the period. Raymond James Financial Inc. acquired a new position in shares of NextDecade during the second quarter valued at $36,000. Finally, Farther Finance Advisors LLC lifted its stake in NextDecade by 21,395.5% in the second quarter. Farther Finance Advisors LLC now owns 4,729 shares of the company's stock valued at $42,000 after buying an additional 4,707 shares during the period. 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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