NextDecade Corporation (NASDAQ:NEXT) Given Average Rating of “Hold” by Analysts

NextDecade Corporation (NASDAQ:NEXT) has received an average recommendation of “Hold” from the five analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.6667.

Several equities analysts have recently weighed in on the company. Capital One Financial initiated coverage on NextDecade in a research note on Friday, February 6th. They issued an “overweight” rating and a $7.00 price objective on the stock. Morgan Stanley cut their price target on shares of NextDecade from $10.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 24th. TD Cowen decreased their price objective on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of NextDecade in a research report on Monday, December 29th.

Insider Transactions at NextDecade

In other news, Director Pamela K.M. Beall purchased 71,500 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was acquired at an average cost of $7.07 per share, with a total value of $505,505.00. Following the acquisition, the director owned 71,500 shares in the company, valued at approximately $505,505. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of NextDecade

Several institutional investors and hedge funds have recently bought and sold shares of the company. US Bancorp DE grew its position in shares of NextDecade by 22,782.4% in 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 in the last quarter. Bessemer Group Inc. bought a new position in NextDecade during the third quarter worth $29,000. Comerica Bank boosted its holdings in NextDecade by 88.0% in the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after purchasing an additional 1,900 shares during the period. Raymond James Financial Inc. bought a new stake in NextDecade during the second quarter valued at $36,000. Finally, Federated Hermes Inc. bought a new stake in NextDecade during the third quarter valued at $38,000. Institutional investors and hedge funds own 66.74% of the company’s stock.

NextDecade Stock Performance

NASDAQ:NEXT opened at $7.34 on Thursday. The company has a market cap of $1.94 billion, a P/E ratio of -6.27 and a beta of 2.02. The firm’s 50 day moving average is $5.86 and its two-hundred day moving average is $5.91. NextDecade has a fifty-two week low of $4.75 and a fifty-two week high of $12.12. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 3.70.

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

About NextDecade

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.