NextDecade (NASDAQ:NEXT) Raised to "Hold" at Zacks Research

Key Points

• NextDecade was upgraded from a "strong sell" to a "hold" rating by Zacks Research, indicating improved confidence among analysts.
• Analysts have a consensus rating of "Buy" for NextDecade, with an average price target of $13.00.
• Despite positive analyst ratings, NextDecade shares opened at $9.94, reflecting a 1.5% decline on the day.

Zacks Research upgraded shares of NextDecade (NASDAQ:NEXT - Free Report) from a strong sell rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other equities analysts have also recently commented on the stock. Seaport Res Ptn upgraded shares of NextDecade to a "strong-buy" rating in a research report on Friday, July 25th. TD Cowen raised shares of NextDecade from a "hold" rating to a "buy" rating and set a $11.00 price target on the stock in a report on Tuesday, June 24th. Cowen raised shares of NextDecade from a "hold" rating to a "buy" rating in a report on Tuesday, June 24th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $15.00 price target (up from $10.00) on shares of NextDecade in a report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $10.50.

NextDecade Price Performance

Shares of NASDAQ:NEXT traded down $0.82 during midday trading on Monday, hitting $6.84. The stock had a trading volume of 10,187,568 shares, compared to its average volume of 3,486,239. The company's 50-day moving average price is $10.43 and its 200-day moving average price is $8.72. The company has a market capitalization of $1.79 billion, a P/E ratio of -8.77 and a beta of 1.35. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 2.77. NextDecade has a fifty-two week low of $4.59 and a fifty-two week high of $12.12.

NextDecade (NASDAQ:NEXT - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported ($0.23) EPS for the quarter, meeting the consensus estimate of ($0.23). As a group, equities research analysts predict that NextDecade will post -0.61 EPS for the current fiscal year.

Institutional Investors Weigh In On NextDecade

A number of institutional investors have recently added to or reduced their stakes in NEXT. Price T Rowe Associates Inc. MD grew its holdings in NextDecade by 20.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 44,982 shares of the company's stock worth $347,000 after acquiring an additional 7,545 shares during the last quarter. Northern Trust Corp boosted its stake in shares of NextDecade by 5.6% in the 4th quarter. Northern Trust Corp now owns 1,077,687 shares of the company's stock valued at $8,309,000 after purchasing an additional 56,895 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of NextDecade by 5.2% in the 4th quarter. Ameriprise Financial Inc. now owns 312,066 shares of the company's stock valued at $2,406,000 after purchasing an additional 15,566 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of NextDecade by 56.6% in the 4th quarter. Deutsche Bank AG now owns 101,838 shares of the company's stock valued at $785,000 after purchasing an additional 36,802 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of NextDecade in the 4th quarter valued at $371,000. 66.74% of the stock is owned by institutional investors.

NextDecade Company Profile

NextDecade Corp. is a development company.