NextDecade (NASDAQ:NEXT - Get Free Report) was upgraded by research analysts at TD Cowen from a "hold" rating to a "buy" rating in a research note issued on Tuesday,Finviz reports. The firm presently has a $11.00 price target on the stock. TD Cowen's price target indicates a potential upside of 33.66% from the company's current price.
NextDecade Trading Down 2.5%
Shares of NEXT opened at $8.23 on Tuesday. The stock has a 50 day simple moving average of $7.83 and a 200-day simple moving average of $7.74. NextDecade has a 1 year low of $4.27 and a 1 year high of $9.71. The stock has a market cap of $2.15 billion, a PE ratio of -12.10 and a beta of 1.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.64.
Hedge Funds Weigh In On NextDecade
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEXT. Wolf Hill Capital Management LP boosted its holdings in NextDecade by 330.1% during the fourth quarter. Wolf Hill Capital Management LP now owns 8,142,024 shares of the company's stock worth $62,775,000 after buying an additional 6,248,757 shares during the last quarter. Nuveen LLC bought a new position in NextDecade during the first quarter worth about $8,147,000. Brightline Capital Management LLC bought a new position in NextDecade during the first quarter worth about $7,780,000. Millennium Management LLC boosted its holdings in NextDecade by 262.2% during the fourth quarter. Millennium Management LLC now owns 1,276,202 shares of the company's stock worth $9,840,000 after buying an additional 923,898 shares during the last quarter. Finally, Riposte Capital LLC bought a new position in NextDecade during the first quarter worth about $6,613,000. Institutional investors own 66.74% of the company's stock.
About NextDecade
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NextDecade Corp. is a development company.
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