NextDecade (NASDAQ:NEXT) Shares Up 5.8% - Still a Buy?

Key Points

• NextDecade shares rose 5.8% to $6.2550, although trading volume was 76% below the average daily level.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an $8.10 average price target; Goldman Sachs initiated coverage with a neutral rating and an $8.50 target.
• The company exceeded quarterly EPS expectations, reporting a loss of $0.25 per share versus the expected $0.66 loss, but it remains highly leveraged with a debt-to-equity ratio of 3.70 and is expected to post a full-year loss.

NextDecade Corporation (NASDAQ:NEXT - Get Free Report)'s stock price rose 5.8% during trading on Friday. The stock traded as high as $6.22 and last traded at $6.2550. Approximately 788,371 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 3,342,734 shares. The stock had previously closed at $5.91.

Analysts Set New Price Targets

A number of analysts recently commented on NEXT shares. The Goldman Sachs Group assumed coverage on NextDecade in a research report on Wednesday, July 15th. They set a "neutral" rating and a $8.50 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of NextDecade in a research report on Thursday. Finally, Wall Street Zen upgraded NextDecade from a "strong sell" rating to a "sell" rating in a research note on Saturday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $8.10.

NextDecade Price Performance

The firm has a fifty day moving average of $6.90 and a two-hundred day moving average of $7.40. The company has a market capitalization of $1.65 billion, a PE ratio of -4.56 and a beta of 1.53. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 3.70.

NextDecade (NASDAQ:NEXT - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.66) by $0.41. Research analysts anticipate that NextDecade Corporation will post -2.10 EPS for the current fiscal year.

Hedge Funds Weigh In On NextDecade

Institutional investors have recently made changes to their positions in the business. Collective Family Office LLC increased its holdings in NextDecade by 13.4% in the 2nd quarter. Collective Family Office LLC now owns 17,194 shares of the company's stock worth $130,000 after acquiring an additional 2,033 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of NextDecade by 0.3% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 644,417 shares of the company's stock worth $4,936,000 after purchasing an additional 2,235 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of NextDecade by 112.5% in the second quarter. NewEdge Advisors LLC now owns 5,327 shares of the company's stock worth $40,000 after purchasing an additional 2,820 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of NextDecade by 58.5% in the third quarter. Farther Finance Advisors LLC now owns 7,816 shares of the company's stock worth $50,000 after buying an additional 2,886 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of NextDecade by 302.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company's stock worth $32,000 after buying an additional 3,161 shares in the last quarter. Institutional investors own 66.74% of the company's stock.

NextDecade Company Profile

NextDecade Corporation is an energy company focused on developing liquefied natural gas (LNG) infrastructure and related carbon-management solutions. The company's principal project is Rio Grande LNG, an LNG export facility located near Brownsville, Texas, on the U.S. Gulf Coast.

Rio Grande LNG is designed to receive natural gas, process it into LNG, and export the product by ship to customers in international markets. The project is being developed in multiple phases and is intended to serve energy markets in Europe, Asia and other regions seeking access to U.S.

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