NextDecade (NASDAQ:NEXT) Price Target Raised to $8.00 at Morgan Stanley

NextDecade (NASDAQ:NEXT) had its price target raised by Morgan Stanley from $7.00 to $8.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also recently weighed in on the company. Capital One Financial began coverage on NextDecade in a research note on Friday, February 6th. They set an “overweight” rating and a $7.00 target price for the company. 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 reaffirmed a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.00.

NextDecade Stock Performance

Shares of NEXT stock opened at $7.51 on Tuesday. NextDecade has a 12-month low of $4.75 and a 12-month high of $12.12. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -6.42 and a beta of 1.69. The business has a 50 day simple moving average of $6.54 and a 200 day simple moving average of $5.98. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.54 and a quick ratio of 0.54.

NextDecade (NASDAQ:NEXT) last issued its quarterly earnings results on Friday, February 27th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.20). On average, equities research analysts anticipate that NextDecade will post -2.89 EPS for the current year.

Insider Buying and Selling

In related news, Director Pamela K.M. Beall purchased 71,500 shares of the stock in a transaction on Monday, March 23rd. The shares were bought at an average price of $7.07 per share, for a total transaction of $505,505.00. Following the completion of the acquisition, the director directly owned 71,500 shares in the company, valued at approximately $505,505. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NextDecade

A number of hedge funds have recently bought and sold shares of NEXT. Alliancebernstein L.P. lifted its holdings in shares of NextDecade by 1.5% during the third quarter. Alliancebernstein L.P. now owns 122,020 shares of the company’s stock valued at $829,000 after acquiring an additional 1,800 shares during the period. Comerica Bank lifted its position in shares of NextDecade by 88.0% during 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 in the last quarter. Inscription Capital LLC lifted its holdings in NextDecade by 16.0% during the 4th quarter. Inscription Capital LLC now owns 15,739 shares of the company’s stock worth $83,000 after buying an additional 2,172 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of NextDecade by 15.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 20,222 shares of the company’s stock valued at $150,000 after acquiring an additional 2,686 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in NextDecade by 57.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 7,460 shares of the company’s stock valued at $51,000 after purchasing an additional 2,731 shares during the period. 66.74% of the stock is currently owned by institutional investors.

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.