Capital One Financial Begins Coverage on NextDecade (NASDAQ:NEXT)

Capital One Financial began coverage on shares of NextDecade (NASDAQ:NEXT) in a research note issued to investors on Friday. The brokerage set an “overweight” rating and a $7.00 price target on the stock. Capital One Financial‘s price target would suggest a potential upside of 45.23% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. TD Cowen reduced their target price on shares of NextDecade from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, October 23rd. Weiss Ratings reiterated 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 given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, NextDecade currently has an average rating of “Hold” and an average target price of $8.00.

NextDecade Trading Down 4.6%

Shares of NEXT opened at $4.82 on Friday. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.64 and a quick ratio of 0.64. NextDecade has a 1-year low of $4.75 and a 1-year high of $12.12. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -6.60 and a beta of 1.99. The firm has a 50 day simple moving average of $5.39 and a 200-day simple moving average of $7.12.

Insider Activity at NextDecade

In other news, major shareholder Aerospace Co. Ltd. Hanwha acquired 851,971 shares of NextDecade stock in a transaction dated Thursday, December 11th. The shares were acquired at an average cost of $5.83 per share, with a total value of $4,966,990.93. Following the purchase, the insider directly owned 25,620,222 shares of the company’s stock, valued at approximately $149,365,894.26. This trade represents a 3.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders bought 7,177,861 shares of company stock valued at $42,393,247. Company insiders own 1.80% of the company’s stock.

Institutional Trading of NextDecade

Hedge funds and other institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of NextDecade by 10.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 17,536 shares of the company’s stock worth $160,000 after purchasing an additional 1,675 shares during the last quarter. Alliancebernstein L.P. grew its position in NextDecade by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 122,020 shares of the company’s stock valued at $829,000 after buying an additional 1,800 shares in the last quarter. Comerica Bank increased its stake in NextDecade by 88.0% during the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after buying an additional 1,900 shares during the period. Steward Partners Investment Advisory LLC raised its position in shares of NextDecade by 27.5% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 9,061 shares of the company’s stock worth $81,000 after buying an additional 1,956 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of NextDecade by 102.2% in the 2nd 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 period. 66.74% of the stock is owned by hedge funds and other 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.