TD Cowen Cuts NextDecade (NASDAQ:NEXT) Price Target to $6.00

NextDecade (NASDAQ:NEXT) had its price objective decreased by TD Cowen from $7.00 to $6.00 in a research report report published on Thursday, Marketbeat.com reports. TD Cowen currently has a hold rating on the stock.

A number of other brokerages also recently issued reports on NEXT. Weiss Ratings restated a “sell (e+)” rating on shares of NextDecade in a research report on Monday, December 29th. Morgan Stanley decreased their price objective on shares of NextDecade from $10.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 24th. Finally, Capital One Financial started coverage on shares of NextDecade in a report on Friday, February 6th. They issued an “overweight” rating and a $7.00 target price on the stock. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.67.

NextDecade Trading Up 2.7%

NASDAQ NEXT opened at $5.63 on Thursday. The business’s 50-day moving average price is $5.26 and its two-hundred day moving average price is $6.30. NextDecade has a 12 month low of $4.75 and a 12 month high of $12.12. The firm has a market capitalization of $1.49 billion, a PE ratio of -4.81 and a beta of 2.02. The company has a current ratio of 0.54, a quick ratio of 0.64 and a debt-to-equity ratio of 3.70.

NextDecade (NASDAQ:NEXT) last issued its quarterly earnings data on Friday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.20). On average, analysts expect that NextDecade will post -0.61 EPS for the current year.

Insider Transactions at NextDecade

In other news, major shareholder Aerospace Co. Ltd. Hanwha bought 851,971 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were bought at an average cost of $5.83 per share, for a total transaction of $4,966,990.93. Following the acquisition, the insider directly owned 25,620,222 shares in the company, valued at approximately $149,365,894.26. This trade represents a 3.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased a total of 2,584,569 shares of company stock valued at $15,140,368 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NEXT. US Bancorp DE boosted its holdings in NextDecade by 22,782.4% during the 3rd quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $26,000 after acquiring an additional 3,873 shares during the last quarter. AlphaQuest LLC grew its position in shares of NextDecade by 102.2% during the 2nd quarter. AlphaQuest LLC now owns 3,961 shares of the company’s stock valued at $35,000 after acquiring an additional 2,002 shares during the period. Raymond James Financial Inc. bought a new position in NextDecade during the second quarter valued at $36,000. Comerica Bank grew its stake in shares of 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 period. Finally, Bessemer Group Inc. purchased a new position in shares of NextDecade in the third quarter worth about $29,000. Institutional investors own 66.74% of the company’s stock.

NextDecade Company Profile

NextDecade Corporation is a Houston‐based liquefied natural gas (LNG) and decarbonization company focused on the development, engineering, construction and operation of large‐scale LNG export facilities. The company’s core mission is to deliver cleaner energy solutions to global customers while integrating carbon capture and sequestration technologies to reduce greenhouse gas emissions. NextDecade’s projects are designed to leverage abundant U.S. natural gas supplies to meet growing worldwide demand for low‐carbon fuel.

NextDecade’s flagship project, Rio Grande LNG, is located at the Port of Brownsville in southern Texas.