NextDecade (NASDAQ:NEXT) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of NextDecade (NASDAQ:NEXT) to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Several other research firms also recently weighed in on NEXT. Morgan Stanley upped their price target on shares of NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 21st. Weiss Ratings upgraded NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th. Finally, Citigroup started coverage on NextDecade in a research note on Wednesday, May 13th. They set a “buy” rating and a $11.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, NextDecade has an average rating of “Hold” and an average price target of $8.10.

NextDecade Price Performance

NextDecade stock opened at $7.68 on Wednesday. The stock has a market capitalization of $2.04 billion, a P/E ratio of -5.73 and a beta of 1.51. The company’s fifty day moving average price is $8.05 and its 200 day moving average price is $6.84. The company has a debt-to-equity ratio of 3.96, a quick ratio of 0.40 and a current ratio of 0.40. NextDecade has a 1 year low of $4.75 and a 1 year high of $12.12.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.15. As a group, equities research analysts anticipate that NextDecade will post -2.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextDecade

Institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE boosted its stake in NextDecade by 22,782.4% during the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $26,000 after buying an additional 3,873 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of NextDecade in the 2nd quarter worth $36,000. Comerica Bank raised its holdings 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. EverSource Wealth Advisors LLC raised its holdings in shares of NextDecade by 302.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company’s stock worth $32,000 after acquiring an additional 3,161 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of NextDecade by 153.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,602 shares of the company’s stock worth $43,000 after acquiring an additional 3,396 shares during the period. Hedge funds and other 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.