NextDecade Corporation (NASDAQ:NEXT) Given Average Rating of “Buy” by Brokerages

Shares of NextDecade Corporation (NASDAQ:NEXT) have earned an average recommendation of “Buy” from the four brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $13.00.

Several research analysts have commented on the company. TD Cowen raised NextDecade from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research 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. Seaport Res Ptn raised shares of NextDecade to a “strong-buy” rating in a research report on Friday, July 25th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $15.00 price target (up previously from $10.00) on shares of NextDecade in a report on Friday, July 11th.

NextDecade Price Performance

Shares of NextDecade stock opened at $9.49 on Wednesday. The business’s fifty day moving average price is $9.96 and its 200 day moving average price is $8.49. NextDecade has a twelve month low of $4.27 and a twelve month high of $12.12. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 2.77. The stock has a market capitalization of $2.49 billion, a P/E ratio of -12.17 and a beta of 1.22.

NextDecade (NASDAQ:NEXT) last posted its quarterly 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, research analysts anticipate that NextDecade will post -0.61 earnings per share for the current year.

Hedge Funds Weigh In On NextDecade

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bardin Hill Management Partners LP boosted its position in shares of NextDecade by 3.9% during the 4th quarter. Bardin Hill Management Partners LP now owns 8,917,873 shares of the company’s stock valued at $68,757,000 after purchasing an additional 334,012 shares in the last quarter. Wolf Hill Capital Management LP increased its position in NextDecade by 330.1% in the 4th quarter. Wolf Hill Capital Management LP now owns 8,142,024 shares of the company’s stock worth $62,775,000 after purchasing an additional 6,248,757 shares during the last quarter. Catalyst Capital Advisors LLC grew its position in NextDecade by 2.3% in the second quarter. Catalyst Capital Advisors LLC now owns 4,704,427 shares of the company’s stock worth $41,916,000 after acquiring an additional 107,004 shares in the last quarter. Geode Capital Management LLC raised its holdings in NextDecade by 12.3% during the second quarter. Geode Capital Management LLC now owns 3,541,633 shares of the company’s stock valued at $31,559,000 after buying an additional 386,613 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in NextDecade by 16.7% during the second quarter. Bank of America Corp DE now owns 3,102,352 shares of the company’s stock valued at $27,642,000 after purchasing an additional 444,518 shares during the last quarter. 66.74% of the stock is currently owned by institutional investors and hedge funds.

About NextDecade

NextDecade Corp. is a development company.