NextDecade Corporation (NASDAQ:NEXT) Receives Average Recommendation of “Hold” from Analysts

Shares of NextDecade Corporation (NASDAQ:NEXT) have been given an average recommendation of “Hold” by the six ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $8.50.

Several analysts recently issued reports on NEXT shares. TD Cowen dropped their target price on NextDecade from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, October 23rd. Cowen downgraded shares of NextDecade from a “buy” rating to a “hold” rating in a research note on Monday, September 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextDecade in a research note on Wednesday, October 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $10.00 target price (down from $15.00) on shares of NextDecade in a research note on Friday, September 12th. Finally, Seaport Res Ptn upgraded shares of NextDecade to a “strong-buy” rating in a research note on Friday, July 25th.

NextDecade Stock Performance

NEXT opened at $5.93 on Monday. NextDecade has a 52-week low of $5.16 and a 52-week high of $12.12. The firm has a market capitalization of $1.57 billion, a PE ratio of -8.12 and a beta of 1.71. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.64 and a current ratio of 0.64. The business’s 50-day simple moving average is $7.50 and its 200 day simple moving average is $8.48.

NextDecade (NASDAQ:NEXT) last released its earnings results on Thursday, October 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.10). As a group, sell-side analysts expect that NextDecade will post -0.61 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Matthew K. Schatzman bought 281,500 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was acquired at an average cost of $7.14 per share, for a total transaction of $2,009,910.00. Following the purchase, the chief executive officer owned 5,246,316 shares of the company’s stock, valued at approximately $37,458,696.24. This trade represents a 5.67% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Aerospace Co. Ltd. Hanwha acquired 449,510 shares of the business’s stock in a transaction on Wednesday, September 24th. The shares were bought at an average price of $7.02 per share, with a total value of $3,155,560.20. Following the completion of the transaction, the insider directly owned 18,537,697 shares of the company’s stock, valued at approximately $130,134,632.94. The trade was a 2.49% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 1,654,850 shares of company stock valued at $11,611,592. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On NextDecade

Several hedge funds have recently bought and sold shares of NEXT. PNC Financial Services Group Inc. lifted its position in NextDecade by 137.2% during the first 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 lifted its position in NextDecade by 88.0% during the first 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 lifted its position in NextDecade by 102.2% during the second 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. acquired a new stake in NextDecade during the second quarter worth approximately $36,000. Finally, Farther Finance Advisors LLC lifted its position in NextDecade by 21,395.5% during the second 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. 66.74% of the stock is currently owned by institutional investors and hedge funds.

NextDecade Company Profile

NextDecade Corp. is a development company.