Russell Investments Group Ltd. Increases Stock Position in NextDecade Corporation $NEXT

Russell Investments Group Ltd. grew its stake in shares of NextDecade Corporation (NASDAQ:NEXT) by 932.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,491 shares of the company’s stock after acquiring an additional 41,083 shares during the quarter. Russell Investments Group Ltd.’s holdings in NextDecade were worth $354,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NEXT. Wells Fargo & Company MN lifted its stake in shares of NextDecade by 48.0% in the 4th quarter. Wells Fargo & Company MN now owns 56,776 shares of the company’s stock worth $438,000 after purchasing an additional 18,414 shares during the period. Renaissance Technologies LLC bought a new position in shares of NextDecade in the 4th quarter worth approximately $436,000. Mariner LLC lifted its stake in shares of NextDecade by 19.6% in the 4th quarter. Mariner LLC now owns 15,836 shares of the company’s stock worth $122,000 after purchasing an additional 2,592 shares during the period. Marshall Wace LLP bought a new position in shares of NextDecade in the 4th quarter worth approximately $139,000. Finally, MetLife Investment Management LLC lifted its stake in shares of NextDecade by 15.2% in the 4th quarter. MetLife Investment Management LLC now owns 67,009 shares of the company’s stock worth $517,000 after purchasing an additional 8,843 shares during the period. Institutional investors own 66.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. TD Cowen upgraded shares of NextDecade from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Tuesday, June 24th. Seaport Res Ptn upgraded shares of NextDecade to a “strong-buy” rating in a research report on Friday, July 25th. Cowen upgraded shares of NextDecade from a “hold” rating to a “buy” rating in a research report on Tuesday, June 24th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $15.00 price target (up from $10.00) on shares of NextDecade in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat.com, NextDecade presently has an average rating of “Buy” and a consensus price target of $13.00.

NextDecade Trading Up 1.0%

NextDecade stock opened at $10.72 on Tuesday. The stock has a market cap of $2.81 billion, a P/E ratio of -13.74 and a beta of 1.35. The company has a debt-to-equity ratio of 2.77, a current ratio of 0.70 and a quick ratio of 0.70. NextDecade Corporation has a 1 year low of $4.27 and a 1 year high of $12.12. The firm’s 50 day moving average price is $10.33 and its 200-day moving average price is $8.64.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings data on Thursday, July 31st. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.23). On average, equities analysts predict that NextDecade Corporation will post -0.61 earnings per share for the current fiscal year.

NextDecade Company Profile

NextDecade Corp. is a development company.