Brokerages Set NextDecade Corporation (NASDAQ:NEXT) Price Target at $8.50

NextDecade Corporation (NASDAQ:NEXT) has received a consensus recommendation of “Reduce” from the four research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $8.50.

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of NextDecade in a report on Monday, December 29th. TD Cowen dropped their price target on shares of NextDecade from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, October 23rd.

NextDecade Price Performance

NASDAQ:NEXT opened at $4.91 on Friday. NextDecade has a 52-week low of $4.76 and a 52-week high of $12.12. The company has a market cap of $1.30 billion, a P/E ratio of -6.73 and a beta of 1.97. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.64 and a current ratio of 0.64. The stock’s 50-day simple moving average is $5.55 and its 200 day simple moving average is $7.50.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings results on Thursday, October 30th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.10). As a group, sell-side analysts forecast that NextDecade will post -0.61 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Aerospace Co. Ltd. Hanwha bought 800,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was acquired at an average cost of $5.54 per share, for a total transaction of $4,432,000.00. Following the purchase, the insider owned 26,420,222 shares of the company’s stock, valued at approximately $146,368,029.88. This trade represents a 3.12% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders have bought 7,177,861 shares of company stock valued at $42,393,247. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of NextDecade

Institutional investors and hedge funds have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. lifted its position in shares of NextDecade by 520.0% in the second 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 buying an additional 1,300,000 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in NextDecade during the 3rd quarter valued at $4,935,000. Tudor Investment Corp ET AL lifted its holdings in NextDecade by 262.8% during the 3rd quarter. Tudor Investment Corp ET AL now owns 912,589 shares of the company’s stock valued at $6,196,000 after purchasing an additional 661,028 shares during the last quarter. Squarepoint Ops LLC boosted its position in NextDecade by 425.0% during the third quarter. Squarepoint Ops LLC now owns 790,009 shares of the company’s stock worth $5,364,000 after purchasing an additional 639,534 shares during the period. Finally, Citigroup Inc. increased its holdings in shares of NextDecade by 1,112.2% in the third quarter. Citigroup Inc. now owns 681,904 shares of the company’s stock valued at $4,630,000 after purchasing an additional 625,652 shares during the last quarter. 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.