Morgan Stanley Reiterates Equal Weight Rating for NextDecade (NASDAQ:NEXT)

NextDecade (NASDAQ:NEXT)‘s stock had its “equal weight” rating reiterated by investment analysts at Morgan Stanley in a report issued on Friday, MarketBeat.com reports. They currently have a $10.00 price objective on the stock, down from their prior price objective of $15.00. Morgan Stanley’s price target would indicate a potential upside of 46.20% from the stock’s previous close.

Several other equities analysts have also commented on the stock. Cowen raised shares of NextDecade from a “hold” rating to a “buy” rating in a report on Tuesday, June 24th. TD Cowen raised 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 raised shares of NextDecade to a “strong-buy” rating in a research report on Friday, July 25th. Finally, Zacks Research raised shares of NextDecade from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.50.

NextDecade Price Performance

NEXT stock opened at $6.84 on Friday. The company has a debt-to-equity ratio of 2.77, a quick ratio of 0.70 and a current ratio of 0.70. NextDecade has a 52 week low of $4.59 and a 52 week high of $12.12. The firm’s fifty day moving average is $10.43 and its 200 day moving average is $8.73. The firm has a market cap of $1.79 billion, a P/E ratio of -8.77 and a beta of 1.35.

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

Institutional Investors Weigh In On NextDecade

A number of large investors have recently modified their holdings of the stock. Westwood Holdings Group Inc. boosted its stake in shares of NextDecade by 6.5% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,255,874 shares of the company’s stock valued at $11,190,000 after purchasing an additional 76,238 shares in the last quarter. Castleark Management LLC boosted its stake in shares of NextDecade by 98.8% during the 2nd quarter. Castleark Management LLC now owns 106,250 shares of the company’s stock valued at $947,000 after purchasing an additional 52,810 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of NextDecade by 89.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 14,910 shares of the company’s stock valued at $133,000 after purchasing an additional 7,024 shares in the last quarter. Captrust Financial Advisors lifted its position in NextDecade by 6.2% during the 2nd quarter. Captrust Financial Advisors now owns 55,444 shares of the company’s stock valued at $494,000 after acquiring an additional 3,219 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in NextDecade by 249.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 30,842 shares of the company’s stock valued at $275,000 after acquiring an additional 22,009 shares during the period. Institutional investors own 66.74% of the company’s stock.

NextDecade Company Profile

NextDecade Corp. is a development company.