NextDecade (NASDAQ:NEXT) Upgraded to “Strong-Buy” at Citigroup

Citigroup upgraded shares of NextDecade (NASDAQ:NEXT) to a strong-buy rating in a report published on Wednesday,Zacks.com reports.

NEXT has been the topic of several other research reports. Capital One Financial initiated coverage on shares of NextDecade in a report on Friday, February 6th. They set an “overweight” rating and a $7.00 target price on the stock. Weiss Ratings upgraded shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th. TD Cowen reduced their target price on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday, March 5th. Finally, Morgan Stanley lifted their target price on shares of NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, NextDecade currently has a consensus rating of “Hold” and an average target price of $8.00.

NextDecade Stock Performance

NASDAQ:NEXT opened at $8.92 on Wednesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.96. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of -6.66 and a beta of 1.65. The firm’s fifty day simple moving average is $7.27 and its 200 day simple moving average is $6.14. NextDecade has a twelve month low of $4.75 and a twelve month high of $12.12.

NextDecade (NASDAQ:NEXT) last posted its earnings results on Friday, February 27th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.20). As a group, equities research analysts expect that NextDecade will post -2.16 earnings per share for the current fiscal year.

Insider Buying and Selling at NextDecade

In related news, Director Pamela K.M. Beall bought 71,500 shares of the company’s stock in a transaction dated Monday, March 23rd. The stock was bought at an average price of $7.07 per share, with a total value of $505,505.00. Following the transaction, the director owned 71,500 shares of the company’s stock, valued at approximately $505,505. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On NextDecade

Several hedge funds and other institutional investors have recently modified their holdings of NEXT. Man Investment Partners US LP bought a new stake in shares of NextDecade in the 4th quarter worth about $48,879,000. Adage Capital Partners GP L.L.C. increased its position in shares of NextDecade by 520.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company’s stock worth $13,810,000 after purchasing an additional 1,300,000 shares during the last quarter. Wolf Hill Capital Management LP increased its position in shares of NextDecade by 25.9% in the 4th quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company’s stock worth $19,493,000 after purchasing an additional 761,299 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of NextDecade by 77.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,676,336 shares of the company’s stock worth $8,834,000 after purchasing an additional 732,550 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of NextDecade in the 3rd quarter worth about $4,935,000. Institutional investors own 66.74% of the company’s stock.

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.