NextDecade (NASDAQ:NEXT) Stock Price Up 5% – Should You Buy?

NextDecade Corporation (NASDAQ:NEXT) traded up 5% during mid-day trading on Tuesday . The company traded as high as $7.95 and last traded at $7.9670. 542,718 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 3,775,245 shares. The stock had previously closed at $7.59.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NEXT. Citigroup initiated coverage on shares of NextDecade in a research report on Wednesday, May 13th. They issued a “buy” rating and a $11.00 price objective on the stock. Weiss Ratings raised shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, April 27th. Finally, Morgan Stanley lifted their price target on shares of NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, NextDecade has an average rating of “Hold” and a consensus target price of $8.00.

NextDecade Stock Up 4.1%

The firm has a 50-day moving average of $8.01 and a 200 day moving average of $6.73. The company has a debt-to-equity ratio of 3.96, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -6.07 and a beta of 1.51.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.15. As a group, sell-side analysts forecast that NextDecade Corporation will post -2.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextDecade

A number of institutional investors have recently added to or reduced their stakes in the company. Man Investment Partners US LP bought a new stake in NextDecade during the fourth quarter worth $48,879,000. Adage Capital Partners GP L.L.C. grew 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 valued at $13,810,000 after acquiring an additional 1,300,000 shares during the period. Wolf Hill Capital Management LP increased its stake in shares of NextDecade by 25.9% during 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 stake in shares of NextDecade by 77.6% during 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 valued at about $4,935,000. 66.74% of the stock is currently owned by institutional investors and hedge funds.

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.