NextDecade (NASDAQ:NEXT) Receives “Hold” Rating from TD Cowen

TD Cowen reissued their hold rating on shares of NextDecade (NASDAQ:NEXT) in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The firm currently has a $8.00 target price on the stock, down from their prior target price of $11.00.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley restated an “equal weight” rating and issued a $10.00 price objective (down previously from $15.00) on shares of NextDecade in a research note on Friday. Cowen upgraded shares of NextDecade from a “hold” rating to a “buy” rating in a research note on Tuesday, June 24th. Seaport Res Ptn upgraded shares of NextDecade to a “strong-buy” rating in a research note on Friday, July 25th. Finally, Zacks Research upgraded shares of NextDecade from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, NextDecade has a consensus rating of “Moderate Buy” and an average target price of $9.00.

NextDecade Price Performance

NASDAQ:NEXT opened at $6.74 on Monday. The stock has a market cap of $1.77 billion, a P/E ratio of -8.64 and a beta of 1.35. NextDecade has a one year low of $4.59 and a one year high of $12.12. The company has a fifty day moving average price of $10.38 and a 200 day moving average price of $8.73. 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 (NASDAQ:NEXT) last announced its quarterly earnings data on Thursday, July 31st. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.23). Analysts anticipate that NextDecade will post -0.61 earnings per share for the current year.

Insider Activity

In other NextDecade news, CEO Matthew K. Schatzman bought 281,500 shares of NextDecade stock in a transaction dated Friday, September 12th. The shares were bought at an average price of $7.14 per share, with a total value of $2,009,910.00. Following the purchase, the chief executive officer owned 5,246,316 shares of the company’s stock, valued at $37,458,696.24. This trade represents a 5.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in NextDecade by 137.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,261 shares of the company’s stock worth $25,000 after acquiring an additional 1,886 shares during the last quarter. Comerica Bank boosted its stake in NextDecade by 88.0% during the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after acquiring an additional 1,900 shares during the last quarter. AlphaQuest LLC boosted its stake in NextDecade by 102.2% during the 2nd quarter. AlphaQuest LLC now owns 3,961 shares of the company’s stock worth $35,000 after acquiring an additional 2,002 shares during the last quarter. Raymond James Financial Inc. bought a new position in NextDecade during the 2nd quarter worth approximately $36,000. Finally, Farther Finance Advisors LLC boosted its stake in NextDecade by 21,395.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,729 shares of the company’s stock worth $42,000 after acquiring an additional 4,707 shares during the last quarter. Institutional investors own 66.74% of the company’s stock.

About NextDecade

NextDecade Corp. is a development company.